Make us your home page

Brookings: Tampa Bay among hardest-hit metro areas in U.S.

Tampa Bay continues to have one of the weakest-performing economies in the country with its marks for housing particularly dismal, according to a study released Monday.

The analysis by the Brookings Institution compares the top 100 metros nationwide based on 16 measures.

The report doesn't give an overall ranking for metros. However, Tampa Bay ranked in the bottom 20 in most categories and in the bottom 20 overall.

Two categories related to housing stuck out, but not in a good way.

The region ranked worst in the country for quarterly change in the number of houses that were taken by banks. Its 3.7 percent drop in housing prices over the quarter was second-worst in the country.

Overall, the recovery of the country's metro areas has been "slow, uneven and inconsistent," Brookings' Metro Monitor report concluded. The economies suffering the most were tethered either to the auto industry or to the housing boom-and-bust.

Locales that suffered the least relied substantially on government, health care, education, or oil/gas. More than half of the metro areas had made a complete recovery of their prerecession economic output by December 2010.

"We're starting to see metro areas recover, but jobs are recovering at a glacial pace," said Howard Wial, a Brookings fellow and co-author of the report.

In 65 of the 100 largest metros, the unemployment rate was lower than a year ago. Tampa wasn't among them. Based on revised numbers released by state officials last week, Florida's unemployment rate hit a record 12 percent in December, and retracted slightly to 11.9 percent in January.

.Fast facts

No Florida cities make Top 20

Brookings Institution's Metro Monitor groups the economies of the 100 largest metro areas into top 20 and bottom 20, without giving an explicit 1-100 ranking.

Tampa Bay was one of five Florida metros included in the bottom 20, along with Cape Coral, Miami, North Port and Palm Bay. There were no Florida entries among the 20 strongest-performing metros, which included five cities from Texas. A sampling of best-performing metros: Albuquerque, N.M.; Dallas; Raleigh, N.C.; Pittsburgh; and Washington, D.C.

Brookings: Tampa Bay among hardest-hit metro areas in U.S. 03/14/11 [Last modified: Monday, March 14, 2011 9:19pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Ousted to political Siberia by Corcoran, Kathleen Peters sets sights on Pinellas Commission

    State Roundup

    TALLAHASSEE — The perks of power in Tallahassee are a coveted chairmanship, a Capitol office in a prime location and a prominent seat on the House floor. Now Rep. Kathleen Peters has lost all three, but here's the twist: Her trip to "Siberia" might actually help her reach the next step on the Tampa Bay political …

    Rep. Kathleen Peters, R-South Pasadena, has been relegated to the back row in the State House chamber, moved to a fouth floor office and stripped of her job as chairwoman of a House subcommittee after a series of disagreements with House Speaker Richard Corcoran. [SCOTT KEELER | Tampa Bay Times]
  2. UPS relocates express operations from St. Pete-Clearwater to TIA


    TAMPA — United Parcel Service Inc. is switching airports for its express air operations. Beginning in October, UPS will relocate from St. Pete-Clearwater International Airport to Tampa International Airport.

    Beginning in October, UPS will move from St. Pete-Clearwater International Airport to Tampa International Airport. [Associated Press file photo]

  3. Richard Corcoran takes aim at public financing of campaigns

    State Roundup

    TALLAHASSEE — House Speaker Richard Corcoran, R-Land O'Lakes, may not be running for governor — not yet anyway — but his latest idea will get the attention of those who are.

    House Speaker Richard Corcoran wants the Constitu?tion Revision Commis?sion to ask voters to repeal the state’s system of partial financing of statewide elections.
  4. Related Group breaks ground on complex at old Tampa Tribune site

    Real Estate

    TAMPA — When Miami developer Jorge Perez first eyed a 4.2-acre tract on the west bank of the Hillsborough River two years ago, people asked him if he wouldn't prefer to build on the opposite side closer to the downtown core.

    No way.

    From left, Related Group executive associate Arturo Penaa, Jorge Perez, center, founder and CEO of the Related Group, Mayor Bob Buckhorn and Steve Patterson, the President of Related Development dig their shovels  during the groundbreaking ceremony of the 400 unit Riverwalk Manor apartment complex on site of the old Tampa Tribune building on Wednesday. [OCTAVIO JONES | Times]
  5. Eat 3-course meals for $35 at these 100 restaurants for Orlando's Magical Dining Month

    Food & Dining

    In the early 1900s, hotels offered "table d'hote" or "prix fixe" menus as a form of loss leader. Hotels didn't necessarily make money on these lower-priced, multi-course meals, often served at communal tables, but they made up for it on the booze. Prohibition may have contributed to a gradual shift toward a la carte …

    Bulla Gastrobar serves a variety of Spanish and Portuguese dishes.