ST. PETERSBURG, Fla. — A state of the economy was delivered on Wednesday in St. Petersburg as the city is still in the middle of its renaissance.
One topic discussed was the status of the new billion dollar stadium for the Tampa Bay Rays, it’s the largest potential project in the city’s history.
“I've been confident since day one that it will happen,” said Mayor Ken Welch after his address and presentation from staff. “But we're going to take our time and do it right.”
Questions remain about getting a new stadium built before the Rays lease runs out in 2027.
“We're nearing the completion of this and we want to make sure it's done right,” Welch said. “So there's no deadline we're going to fall off a cliff. We're in the best position we've been in and I'm confident we're going to get it done.”
The numbers for the city's economy are all trending upward, including more residents, more investment and more valuable taxable property last year than ever before.
Also touted during the state of the economy was the new office of supplier diversity, which is trying to find more minority and women owned businesses that can qualify for government contracts. The kind of business that owner Renee Edwards helps at her St. Pete vendor market, the Saturday Shoppes.
“So this new age of helping out minorities, especially women owned businesses like me, it's amazing because 5 years ago that was not the case,” Edwards said.
The city says it still needs to work on affordable housing. It still is about 3000 units short goals for new or preserved units. Increasing downtown office space is another goal for the city.
Currently there are almost no vacancies, but new construction of office space would double lease prices.