The St. Petersburg Area Economic Development Corporation held its annual meeting yesterday on the campus of USF St. Petersburg. The room was packed and the mood was one of optimism and a newly harnessed energy and focus.

The term “bullish” was bandied about frequently, a clever play on the mascot of host USF, but the confidence was supported by data and the energy and enthusiasm of the EDC staff, Board of Governors, and investors (the EDC’s name for members of the corporation.) The afternoon’s speakers included Mayor Ken Welch, EDC President and CEO Mike Swesey, Immediate Past Chair of the Board of Governors Marcus Greene, and new Chair Bill Kent, as well as a panel of business leaders from industries newly relocated to St. Petersburg, and surprise guest Matt Silverman of the Tampa Bay Rays.

The EDC is emerging from a period of transition after a nationwide search for a new President and CEO culminated in bringing Mike Swesey here from Iowa at the end of 2023. The EDC sees 2024 as the first year in a new 5-year approach. Incoming Board of Governors Chair Bill Kent, of George F. Young, Inc. summarized the goals:

• Business recruitment: A significant amount of new Class A office space will soon be in play with developments like Orange Station, 400 Central, the Tampa Bay Innovation Center, and the Historic Gas Plant District, providing opportunities to attract larger businesses, and more of them. Kent noted that the group is working on “confirming the EDC’s target industries based on the latest research and will be identifying and promoting site and building availability.” 
• Access and diversity: The EDC will focus on embodying the city’s principles of inclusion and intentional equity. Chair Bill Kent noted that the challenge that comes with all of the city’s recent success is “helping St. Pete grow, while still keeping St. Pete, St. Pete.” He stressed the need to “make sure that the changes benefit everybody.”
• Organizational operations. Kent described a commitment to collaboration. “The reality is, no one organization can do all things for everybody; it’s a team sport. We all have a role to play.” He went on to explain that the EDC is working on “increasing our investor pool. We’re trying to build a firm foundation for the next phase of marketing of St. Pete as a world class place of business.”

President and CEO Mike Swesey moderated a panel of four business leaders who have recently relocated their companies to St. Petersburg. They offered their thoughts on their own experiences and their optimism for the future of the city. 

Mason Salit, Chief Talent Officer for Dynasty Financial Partners, talked about the decision to relocate the company from New York City in 2019. Mason knew that “talent was going to be critical to our growth and that continues to be true five years later. We realized that the ability to access talent from the local universities, the various companies here, and the fact that St. Pete was growing and was a destination for people” all contributed to the decision to relocate here.

He went on to describe a buzz about St. Pete that he hears from new recruits, saying “They know about St. Pete in a different way than they did five years ago.”

Next Anthony Nagendraraj described his decision to move his company Spontivly from Canada to St. Pete. “We were looking at Austin, San Francisco, and Atlanta. This reminded us of Austin ten years ago and we wanted to be on the ground floor of something really special growing here.”

Cathie Wood of Ark Invest has become a self described “cheerleader of St. Pete.” She contributes part of her decision to relocate the company to St. Pete’s creative spirit. “Right now we feel that St. Pete’s DNA is innovation. I think the artistic community, the creativity, is very organic and is very different from any other place we searched as we were looking around for our next home.”

Nicky Bruger appreciated the support of the EDC when relocating her company Digital Twin Marine here to St. Petersburg. “We were really excited when we met with the St. Pete Economic Development group. They helped us find office space at the St. Pete Innovation district Hub and they’ve been at helping us get clued in with the greater innovation community as well as create some potential partnerships to innovate beyond what we’re doing right now.”

The day’s final speaker was Tampa Bay Rays co-president Matt Silverman. He was introduced by EDC President Mike Swesey who issued a strong statement of support for the new Hines-Rays Historic Gas Plant Development, noting “It will be the largest mixed use development ever in the Tampa Bay region.”

Swesey said the project addresses some of the area’s biggest challenges, including affordable housing, 1.4 million square feet of office space, 750 hotel rooms, and 320,000 square feet of new retail and restaurant space. He went on to mention the 50 million dollars of intentional equity initiatives, a new Woodson African American Museum, a new enclosed performance venue, a reconnected street grid, and 14 acres of green space, calling the project “a model public private partnership.”

After the glowing introduction, Matt Silverman said, “I want to share our excitement for this project. This could be transformative for the Rays and is potentially transformative for our city and for our county and we couldn’t be more excited about the partnership that we have with our City, our City Council, our Mayor, our County Commission, and our County Administrator. We have a lot of work to do in the next 80-100 days to get this done. It’s an 80 day sprint, and at the same time, in about 40 days we open our season against the Blue Jays, on Thursday, March 28. Another sellout crowd is expected and we can’t wait to get started.

“As you heard today, the city is on an incredible trajectory. We have so many new faces, so much new growth, so many new companies coming into town and I can’t wait to be here five years from now talking about that next wave of companies that have come to the Historic Gas Plant District, that are filling up the office buildings, talk about the new hotel, talk about the new affordable housing, talk about the new partnerships that we are going to form on this site and create an incredible economic engine for our city.”

Silverman closed by introducing everyone’s favorite mascot Raymond, who hugged all of the panelists and displayed the team’s newest swag, t-shirts bearing the catch phrase “Here to Stay”. It was a fitting closing for an afternoon of optimism, one that underscored the belief that St. Pete is a city that is enjoying its current success, but still looking forward to sharing that success with others – those already here and those yet to come.