Tampa’s $200 Billion GDP At Risk From Hurricane Milton
Several researchers, including one from the Bureau of Economic Analysis, estimate the Tampa Bay region’s GDP at $188 billion in 2022. Given the area’s growth, that figure will be $200 billion this year. At least several billion dollars are at risk as Hurricane Milton will strike the region hard this week, on top of the damage caused by Hurricane Helene.
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GDP is not the only economic measure of the damage. Billions of dollars worth of residences and businesses will be destroyed or partially destroyed. Some will take months to rebuild, and some will not be rebuilt at all.
Tampa is a major center for military activity and one of the largest southern hubs for technology. It has been nicknamed the “Wall Street of the South.” Other large industries include healthcare, health sciences, manufacturing, and the export of goods. Finally, Tampa is a significant tourist destination, although that activity drops off in March and does not start again until December. However, some hotels damaged by the storm may not reopen for months.
City GDPs
Most people are not familiar with city GDP, and certainly not at the level of national GDP. However, economic activity is relevant to measure a city’s financial health or lack thereof. Tampa’s is about to be reduced.
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