Tampa Bay's economy among nation's fastest-growing
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Tampa Bay's economy was one of the fastest-growing among large U.S. metros last year, according to new federal data.
Why it matters: The numbers released this month show the region's economy has been booming.
By the numbers: Tampa Bay's gross domestic product increased by 4.3% from 2022 to 2023, hitting $198 billion last year, per the data from the U.S. Bureau of Economic Analysis.
- Our region had the seventh-highest growth rate among metro areas with a population of over 1.5 million.
Zoom in: The finance, insurance and real estate industries drove much of the growth in the Tampa-St. Petersburg-Clearwater metro area, generating $52 billion last year — up from $50 billion in 2022, per BEA data.
- The health care and social assistance fields also made gains, rising from $18 billion in 2022 to over $20 billion last year.
Zoom out: Seattle saw the highest economic growth among large metros. Houston, Charlotte, San Antonio and Austin rounded out the top 5.
- In Florida, Orlando, Tampa Bay, Jacksonville and Miami made the top 10.