Tampa Bay area third in the nation for new business applications this year

TAMPA, Fla. – The Tampa Bay area has become a hot spot for new businesses, with tens of thousands of residents applying to start their own companies this year. 

Since 2019, new business applications in the region have doubled, rising from nearly 50,000 to more than 90,000 annually, placing Tampa among the top three cities nationwide for startups.

This boom is attributed to an influx of new residents, especially from the northeast, drawn by Florida’s sunshine – and lack of personal income tax. 

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“We saw a lot of people with disposable income who brought that with them and are now starting businesses,” said Bob Rohrlack, the CEO of the Tampa Chamber of Commerce.

Entrepreneur Brock Laramie is the founder of Young Entrepreneurs of America, which helps people kick start their own business. He told FOX 13 that the COVID-19 pandemic made many people reconsider job security. 

“A lot of people lost their jobs during COVID and realized they weren’t as stable as they once thought,” said Lamarie. “Many are now looking for something else, especially with the rise of technology and AI.”

While new business applications are soaring, experts emphasize that most entrepreneurs are not quitting their jobs but are starting businesses on the side. This spike in startups is beneficial for the local economy, with new businesses creating jobs and boosting the standard of living.

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