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PO Box 1212 Tampa, FL 33601 Pinellas (727) 726-8811 Hillsborough (813) 258-5827 Toll Free 1-888-683-7538 Fax (813) 258-5902 TOOLS CONVERSION CHART MORTGAGE CALCULATOR Updated January 2006		RETURN TO NEWS INDEX Tampa Area No. 2 On 'Scorecard' By DAVE SIMANOFF dsimanoff@tampatrib.com Published: Jan 13, 2006 Tampa Tribune TAMPA - We're not No. 1 - but that's OK. The Tampa Bay region tied for the No. 2 spot among six metropolitan areas in a report released Thursday by the Tampa Bay Partnership, the organization that coordinates economic development efforts for Hillsborough, Pinellas, Pasco, Polk, Hernando, Manatee and Sarasota counties. The report, called the Regional Economic Scorecard, gives the Charlotte, N.C., region the top spot, thanks in part to that area's high wages and affordable housing. The Raleigh-Durham region in North Carolina ties with the Tampa Bay region for the No. 2 ranking; it scored well in education and innovation. What does the No. 2 ranking mean for the Tampa Bay area? The ranking reflects the booming work force and rising wages but also points to housing that is not affordable, salaries that lag behind those of other regions, and shortcomings in investment and research. Partnership officials say they are not fazed by the Tampa Bay region not receiving the highest score. "We're not going to hide this stuff," said Gwen Mitchell, chairwoman of the partnership's business intelligence committee and managing partner for Deloitte & Touche LLP's North Florida practice. An honest comparison will help leaders address the issues that might hurt the region's ability to attract employers, skilled workers and investors, she said. The scorecard compares the Tampa Bay region to Charlotte, Raleigh-Durham, Atlanta, Dallas and Jacksonville in five categories: employment, income, housing, innovation and education. The five regions were selected because they are similar in size and character to the Tampa Bay area and because they often compete with it for new workers and companies. The partnership intends to update the scorecard every three months and revise the criteria and benchmark cities as necessary, she said. Some highlights from the scorecard, which the partnership said was based on the latest available data from several sources: Employment: The Tampa Bay region ranks highest because its 51,000 new jobs and 2.9 percent job growth rate outpace the same statistics in other regions during a comparative period. Income: While the Tampa Bay region has the lowest average wages - $32,962, compared with the highest of $39,940 in Raleigh-Durham - it is also the region where wages and household incomes are growing at the fastest rate. Housing: The Tampa Bay region earns the bottom ranking because the prices for houses and rent, in relation to wages, are not as favorable here as in other regions. The single-family affordability ratio is 0.19 in the Tampa Bay region, compared with 0.37 in the Dallas area, for example. Education: Raleigh-Durham is the clear winner in this category, with the best high school graduation rates, best mean SAT scores and highest numbers of degrees in the work force. The Tampa Bay region is ranked No. 2, with the second-highest mean SAT and the fourth-best high school graduation rate. Joe Smith, special projects adviser for builder Walbridge Aldinger, said the scorecard can help the partnership talk to the community about the need to address issues such as affordable housing. Walbridge Aldinger is one of the financial contributors to the Tampa Bay Partnership, as is Media General, parent company of The Tampa Tribune; WFLA, Channel 8; and TBO.com.