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Key Takeaways on Economic Competitiveness

The trend analysis of the economic competitiveness of the Tampa Bay region paints a not-so rosy picture. Though the Tampa Bay region鈥檚 ranking improved on the various indicators over the years, the improvement has not been on par with comparison MSAs, evidenced by the declining competitive position of the Tampa Bay region.

In terms of unemployment rate and poverty rate, the Tampa Bay region is positioned in the bottom half of the comparison group. In terms of gross regional product per capita, the Tampa Bay MSA is positioned at rock bottom. The analysis makes it clear that the region needs a stronger push along these indicators to keep up with other top performing MSAs.

On a positive note, the racial gap in terms of economic prosperity has been declining for most of the MSAs, including the Tampa Bay region. The Tampa Bay MSA has been improving in terms of competitive position along the lines of the Black-White poverty rate gap and income inequality.