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Economic Impact Study on the New St. Pete Pier
Lambert Advisory, an economic advisory service firm contracted by the the City of St. Petersburg, has recently completed an economic and fiscal impact analysis for the new Pier District. The Pier District, which begins under-water construction next month, is anticipated to create measurable short-term economic benefits associated with its construction, as well as long-term recurring economic and fiscal benefits resulting from its operations.
Some report highlights:
- Total economic impact directly from the Pier District estimated at $80 million - a complete return on investment in the first year of operation
- An estimated 365 Full-Time Equivalent (FTE) jobs, nearly $17.5 million in total construction wages and over $3.5 million in professional fees during construction
- Total expenditures for Pier and St. Petersburg estimated at $40 million annually
- $15 million in annual hotel expenditures
- 102,000 increase in annual new room nights
- 1,080 additional full-time equivalent Pinellas county jobs
- Approximately $935,000 in annual bed tax revenue
Mayor Rick Kriseman: "I am thrilled that the new St. Petersburg Pier District will not only be a world-class destination for residents and for visitors from around the world, but that it will also have such a strong economic impact. It will bring jobs as well as millions in revenue from tourism, food and beverage, and bed taxes. Construction on the new pier begins soon, and that means the impact of the $17.5 million in construction wages will be felt soon, too. My thanks to Lambert Advisory, an independent economic advisory firm, for conducting this important study."
Methodology for this study compared financial impact of other major Piers in the U.S. as well as outside the U.S. It also assessed the economic impact on the local economy of ongoing Pier operations and visits to the park by both local and out-of-area visitors.
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Attn: South St. Petersburg CRA Grant Programs accepting applications through June 16th
The city is accepting applications for the 2017 cycle of its South St. Petersburg
CRA Grant Program
to help support private investment in the South St. Petersburg Community Redevelopment Area (CRA). The deadline to submit an application is Friday, June 16th at 5:00 pm. City Council recently approved budget amounts for the CRA grants including nearly $412,000 for commercial grants and nearly $122,000 for housing and neighborhood revitalization and multi-family residential property improvement grants.
Learn more about the five available programs and download applications
here
.
The
CRA Grant Program
was created in 2015 as part of the city's innovative, 30-year revitalization plan for South St. Pete designed to help boost private investment in commercial and multifamily residential development in South St. Petersburg. The CRA is generally located between Fourth St. and 49th St., from Second Ave. N. to 30th Ave. S. View the CRA boundaries here.
In advance of the grant application deadline, workshops and satellite office hours at various locations are offered to assist with preparing the application.
Workshops at The Greenhouse, 440 2nd Ave N:
- May 24th, 6:00 to 7:30 pm
Satellite Office Hours, 1:00 to 5:00 pm on the following dates:
- May 24th, Enoch Davis Recreation Center, 1111 18th Ave S
- May 31st, Childs Park YMCA, 691 43rd Street S
- June 7th, Enoch Davis Recreation Center, 1111 18th Ave S
- June 14th, Childs Park YMCA, 691 43rd Street S
If you have questions, please contact Anthony Chan, Economic Development Specialist, at 727-551-3279 or
tony.chan@stpete.org.
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#BurgBiz Spotlight on Stevie & Fern
Meet
Thomas, Kojak and Mary Kay - founders of
Stevie & Fern, a small branding agency with big clients (
WTA,
Station House St. Pete, and Heineken). Both from big northeast cities, they made the move to St. Pete because (well the weather) and they saw the magic happening here and wanted to contribute...and boy have they. From teaching classes at USF St. Pete, to holding free branding work shops and creating websites for community events - they're challenging expectations and creating real relationships.
"We're all about the 'community not competition' approach - we don't want to compete within St. Pete, we want St. Pete to compete with the world." Their motto says it best: 3 cats, 2 friends, 1 dog and a mission to connect people. Keep up the good work!
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City Council approves lease agreement with Jabil Circuit
On May 18th, City Council approved a lease agreement between the Tampa Bay Research Institute (TBRI) and Jabil Circuit, Inc. The agreement allows Jabil to expand their headquarters at 10900 Roosevelt Boulevard North and TBRI will move to the Blue Heron office park. As part of the agreement, Jabil will retain 800 employees in St. Petersburg.
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Ribbon cutting showcases renovated Greenhouse
To kick off Small Business Week on Monday, May 1st,
The Greenhouse staff hosted a ribbon cutting ceremony celebrating the recently completed renovation of their upstairs training space. The building, originally the 1902 Domestic Science and Manual Training School, now contains a small upstairs training room in addition to the existing conference room and larger downstairs training room. The space has also been equipped with modern furniture and office space for The Greenhouse staff and clients.
Mayor Rick Kriseman and Chamber President Chris Steinocher spoke outside The Greenhouse during the event attended by various entrepreneurs and business leaders in the community. T
he event featured free Kahwa coffee from the Kahwa bus as well as sweet treats by Entrepreneurial Academy graduate Jennifer Jacobs, owner of Wandering Whisk Bakeshop.
The Greenhouse is St. Petersburg's front door to business growth, providing business owners and entrepreneurs with the education, resources and assistance necessary to thrive in today's economy. Comprised of an expert team from the City of St. Petersburg and the St. Petersburg Area Chamber of Commerce, along with a wide network of partners, we are committed to the economic growth and development of St. Petersburg's economy. Learn more about opportunities and resources at The Greenhouse by visiting their
website.
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Construction on Deuces Live lighting project begins next month
On May 18th, City Council approved the lighting installation project at the I-275 overpass along 22nd Street South, the Deuces Live Main Street corridor. The project will include landscaping, enhanced pedestrian facilities, and LED lighting on the bridge structure and support columns. Work will begin in June and the project is expected to be complete in October.
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Best Places to Work in Tampa Bay
The
Tampa Bay Business Journal
(TBBJ) recently released their list of Best Places to Work in Tampa Bay in 2017. Employee surveys conducted by a third party were used to develop the rankings. TBBJ divides companies based on number of employees. Congratulations to the following St. Pete companies that made the list!
Nearly Big (10-24 employees)
- Priatek, LLC
- American Capital Assurance Corp.
- Founders Professional, LLC
- 360 Advanced, Inc.
Bigger (50-99 employees)
- Stahl & Associates Insurance, Inc.
- WRH Realty Services, Inc.
Biggest (100+ employees)
- Modern Business Associates
- Power Design, Inc.
- Catholic Charities, Dioceses of St. Petersburg, Inc.
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Learn how to create an engaging space for your business at the June TECH Talk
Tampa Bay Innovation Center will host Florida Business Interiors and Haworth for their June TECH Talk program on Tuesday, June 13th at 8:30 am at the Microsoft Headquarters offices in Tampa, 5426 Bay Center Dr, Suite 700.
In a unique combination of insights into office design and workplace behaviors, the June program, "Office Designs that Encourage Engagement: Start with your Culture," reflects statistics indicating that only 30 percent of workers are engaged in the work they do for their company. In their interactive and practical, how-to program, presenters will share the importance of understanding organizational culture as a springboard to create spaces in which employees love to do their best work.
There is no fee to attend, but space is limited so attendees are encouraged to register here.
Additional information is available by contacting Mary Rodriguez Gort at 727-547-7341 or gortm@tbinnovates.com.
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"Building on the Future" Small Business Salon on May 25th
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New SEO class at The Greenhouse
Using SEO to Improve Your Google Rankings
Wednesday, June 21st, 2 to 4 pm
This FREE workshop will help attendees understand the basics of Google Rankings and Search Results. Learn more and register here.
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Upcoming Events & Opportunities
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May 23, 8:15 am to 5:00 pm
SPC Epicenter, 13805 58th Street N
Mahaffey Theater
May 25, 6 to 8 pm
Manhattan Casino, 642 22nd Street S
May 30, 5 to 7 pm
The Mandarin Hide, 231 Central Ave
Starts June 5, 6 to 8 pm; 6 sessions
The Greenhouse, 440 2nd Ave N
June 16, 6 to 10 pm
Port St. Pete, 250 8th Ave SE
June 21, 2 to 4 pm
The Greenhouse, 440 2nd Ave N
Special note:
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Have a development update, project announcement, or success
story to share?
Contact Sophia Sorolis, 727-893-7787
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City of St. Petersburg
Economic Development Division
P.O. Box 2842
St. Petersburg, FL 33731
800.874.9026 (toll free)
727.893.7100 (phone)
727.892.5465 (fax)
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