Local Businesses to Flourish in Tampa Bay
Tampa is experiencing a frenzy of development and a rise in economy that will continue to have an influence on established local business like Ciccio Restaurant Group. In Downtown Tampa, alone, multi-billion dollar commercial projects including The Heights, Port Tampa Bay, and an unnamed Vinik venture are pure examples of this region’s economic vitality.
“In my 25 years now in Florida, this is the healthiest I’ve seen the market,” said Larry Richey, Tampa-based Florida market leader for real estate servicer, Cushman & Wakefield of Florida Inc.
Florida-born grocer, Publix, has solidified plans to add several storefronts in different areas around the bay over the next year. The increase of grocery stores usually follows a boom in population like the one that Tampa is experiencing.More neighborhoods and apartment buildings are springing up in prime real estate locations which will help to increase the bay’s current population by about 1.6 percent to over two million.
“Personal income growth in the region is expected to be 5.3 percent on average each year,” said Sean Snaith, a UCF Economist. “The real per capita income level should average $41,400 with an average annual wage level of $55,300,” he said.
So where does Ciccio Restaurant Group come in to all of this?
Since CRG established themselves in South Tampa over 20 years ago, they have continued to introduce new brands that evolve with the changing and expanding demographic in the bay. Each day more people are moving to Tampa which means there are more stomachs to feed. It is Ciccio Restaurant Group’s goal to use the area’s development as an advantage to serve bigger communities.
With more requests to expand to other areas of the bay area, CRG will stay on top of local trends and the needs of customers as the company expands to prosperous areas of Tampa bay.
Stay tuned to our website for updates on expansions!