If you’re looking to expand or grow your business, then Florida is a very logical state to look at as a place for potential expansion. The amount of consumer dollars available here is pretty impressive. The state already enjoys a large population, but it is a population that continues to grow.
Retirement is certainly something that draws plenty of folks here, and Baby Boomers and their elders are certainly one demographic to target if you want to make money. That segment of the population currently holds an estimated two-thirds of all consumer wealth, and with lifespans and expectancies still rising, that financial abundance is not likely going to be inherited by Generation X or Millennials any time soon.
Retirees are far from the only ones with money in this state though, or the only ones moving here. Given the state’s location, it’s also a hub of immigration from other nations. Many tourists also pass through here every week of the year, so not all the dollars spent are local. Many working age adults also flock here from around the nation to be a part of the economy that services so many people. Retirees and tourists put money into the local economy and create demand, yet they do not make their money here, so jobs are abundant and need filling. Employment and lots of sunshine appeal to many in less lucky states.
Many companies that look to Florida for expansion sometimes turn immediately to places they know or have heard of. Miami is certainly one such place that gets a lot of attention. Other cities that perhaps have more name recognition than St. Petersburg include Orlando, Jacksonville, and Tampa Bay. Of these, Tampa Bay is not actually a competitor to St. Petersburg, since they cumulatively form a metropolitan region of their own.
That combined metropolitan area is actually the second largest in the state, which is why you should consider St. Petersburg for your expansion into the Sunshine State. A quarter million citizens call this city home as-is, and you have immediate access to the second biggest market in one of the nation’s most populated states.
The city of St. Petersburg sits on a peninsula between Tampa Bay and the Gulf of Mexico, making it one of the few places in the United States that can see the sun rise and also set over the water.