The Pasco Economic Development (Pasco EDC) Council’s Pasco 2023 annual report indicates the county’s economy is continuing to grow and diversify.
The county landed 13 new projects, attracted more than $188 million in investment and added 3,000 new jobs, according to the Pasco EDC’s report.
Advanced manufacturing projects led the pack in terms of new business coming to Pasco, followed by life science ventures.
Speros FL Moffitt Cancer Center is the largest project in the mix, with work underway on the 775-acre campus in the emerging community of Angeline, in the heart of Land O’ Lakes.
The project, near the Ridge Road exit of the Suncoast Expressway, is attracting interest from companies around the globe, the Pasco EDC report says.
Pasco landed the project through collaborative efforts of the Pasco EDC, Pasco County and the Florida Legislature, which put together an economic incentive package to entice the hospital to expand from its current Tampa location to add another site in Land O’ Lakes.
Pasco economic leaders and elected officials expect Moffitt’s development to have a generational impact on Pasco because of both the cancer center and development expected to spring up around it.
An excerpt from the agreement between Pasco County and Moffitt notes: “The county has concluded that providing economic incentives to Moffitt will serve as one of the most significant catalysts in the county’s history for future economic growth, by creating the potential for new employment opportunities in Pasco County, reducing reliance on regional commuting to work by citizens, significantly diversifying the tax base, and introducing smart growth and service technologies to the area.”
Another collaboration between Pasco EDC, the county, the city of Zephyrhills and the state of Florida led to Bauducco Foods’ decision to locate near the Zephyrhills Airport.
Bauducco has purchased 72.5 acres of the Zephyrhills Municipal Airport’s Ready Site and expects to hire more than 600 employees within the coming decade.
The effort to attract the Brazilian-based company to North Tampa Bay was one that took several months and resulted in the company’s decision to invest about $200 million in the new facility. The plant will produce and distribute Bauducco’s baked items across the United States.
Bauducco’s decision is just one example of the kind of success that can come when a site is ready for development.
Ready Sites Program attracts companies
The Pasco EDC’s Ready Sites’ program works with private landowners to assess, evaluate and certify large tracts of industrial lands. Currently, the county has six Ready Sites, totaling more than 2,300 acres, according to the 2023 annual report.
The program gives Pasco a competitive edge when vying with other locations for future projects because the company knows that the site is ready for them to proceed with their project.
After sites are certified, the Pasco EDC markets them nationally at trade shows and conferences, as well as on the economic development organization’s website.
The county also supports speculative buildings to attract new business, through its Penny for Pasco tax revenues. There are currently six Penny for Pasco speculative buildings with 322,000 square feet of available space, according to the annual report. The spaces in these speculative buildings can be used for anything from Class A office space to Class A industrial flex space.
Overall, Pasco EDC aims to attract companies to the county, help entrepreneurs to thrive and help existing businesses to expand.
The Pasco’s EDC budget is supported through $526,750 in private contributions from 82 investors and by $954,000 in Penny for Pasco tax revenues.
The county’s identified target industries are advanced manufacturing, aerospace aviation and defense; business and professional services; high technology; life sciences and medical technology; and logistics and distribution.
Pasco EDC programs are designed to help businesses in whatever phase they’re in — whether just starting out, fine-turning operations, or in expansion mode.
SMARTstart turns 10
Pasco EDC’s SMARTstart program, which celebrated its 10th anniversary in 2023, focuses on the needs of entrepreneurs.
It offers help with workspace, funding, guidance, collaboration and education. Over the past decade, it has conducted 600 classes and workshops that have attracted more than 3,500 attendees.
SMARTstart provides business incubators in Dade City, Wesley Chapel and Holiday. They offer workspace, conference and meeting rooms, classes and workshops, and other amenities.
The business incubator in Dade City includes a commercial kitchen, which has helped to launch a number of small businesses, including Lanky Lassie’s Shortbread, which has a storefront in Dade City.
The commercial kitchen in Dade City came about through a collaboration between Pasco EDC, Pasco County, the University of Florida/IFAS Pasco County Extension and private businesses that provided the commercial kitchen equipment to bring it to life.
The new West Pasco Entrepreneur Center in Holiday includes desks, a quiet pod for virtual meetings, a collaboration area and co-working spaces. It also is located on the same campus as a 14,000-square-foot AmSkills workforce training center.
AmSkills’ training program plays a valuable role in helping manufacturers recruit, plan and sustain a skilled workforce. It provides workforce training and apprenticeships for youth, adults, veterans, the uniquely abled, and economically disadvantaged.”
It provides training in areas such as machinery, mechatronics, robotics, supply chain logistics, and industry 4.0.
Besides training residents from Pasco County, the new workforce center is expected to attract people from all over the country for Amatrol Technical Training and Universal Robotics equipment training.
WorkFORCE Connect is another Pasco EDC program that has helped to attract companies to Pasco and has helped existing companies be successful.
It aims to bring together employers, training providers and assistance programs to help local firms create a pipeline to provide employees to meet future needs.
Another program of note involves Pasco EDC’s international efforts to attract new business opportunities.
During 2023, Pasco EDC participated in trade missions to the United Kingdom, the Dominican Republic and Panama, and Pasco companies reported they expected to do more than $40 million in expected export sales, the annual report says.
Published January 03, 2024
