The Washington Economics Group

WEG Report: Tampa technology organization creates over $740 million in economic impact

Tampa Business Journal, Dec 1, 2020

A new report states the Institute for Commercialization of Florida Technology has created a more than $740 million economic impact, as technology and startup companies continue to raise funding, create new jobs and new products. Coral Gables-based The Washington Economics Group Inc. released a report stating the Tampa-based institute’s economic impact jumped $259 million in the 2019-20 fiscal year. The institute, which calls itself a “one-stop shop for investors and entrepreneurs,” helps create jobs in industries such as life sciences and information technology. It also supports funding for seed and early-stage funding. Some key highlights from the report include:

  • 3,994 total jobs supported in FY 2019-20, with a total of 16,070 over the last 10 years
  • Raised almost $53 million in FY 2019-20, with a total of more than $370 million raised over the last 10 years
  • Over the last 10 years, the institute has created more than $2.6 billion in economic impact with more than 28 percent of that coming from FY 2019-20

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