The Tampa Bay area recorded $273 million in business investment during fiscal year 2025, with 29 companies choosing to expand or relocate to the region despite two major hurricanes hitting the area.

The investment figure represents a record for the Tampa Bay Economic Development Council, which tracks business development in the region. The fiscal year began in October, shortly after Hurricane Hilton struck and just before Hurricane Milton made landfall.

Mitchel Allen, senior vice president of the Tampa Bay Economic Development Council, said companies initially paused their relocation plans following the storms but resumed interest after observing the region’s recovery.

“People were taking a pause, re-evaluating Tampa, re-evaluating Florida as a whole,” Allen said. “I think what they saw is our resiliency to get back on our feet, really push forward, and so businesses started to come back to us.”

Allen identified workforce availability as a key factor in attracting companies, noting that businesses consider both immediate hiring needs and long-term talent pipelines from local universities and incoming professionals.

Among the new arrivals is AquaFence, a Norway-based manufacturer of reusable flood barriers for critical infrastructure. The company committed to adding 150 jobs in Tampa Bay and is considering establishing a manufacturing facility in the area to replace its current European production base.

Patrik Hansson, AquaFence’s chief revenue officer, cited the region’s community atmosphere and logistics infrastructure as factors in the company’s decision.

Follow the St. Pete-Clearwater Sun on Facebook, Instagram, Threads, Google, & X

St. Pete-Clearwater Sun: local St. Pete-Clearwater news at PIE-Sun.com