City of St. Petersburg elected officials and staff came together Wednesday to discuss the “State of the Economy” at the Mahaffey Theater.

Cassidy Mutnansky, the City’s economic development officer, outlined multiple St. Petersburg-led initiatives that are supporting citizens and businesses. 

Resilience and disaster relief 

Currently, the City is working on the St. Pete Agile Resilience plan (known as SPAR) to “address flooding and at-risk infrastructure,” according to the municipality’s website. 

Mutnansky said that the St. Petersburg government is planning to invest more than $2 billion over the next 24 years. Some projects under the initiative have been completed already while others are underway or planned. 

Residents may be able to vote on a general obligation bond referendum in November that will help fast track $600 million in SPAR projects over the next five years. 

The City is distributing $159.8 million through the Sunrise St. Pete disaster recovery program to “help residents and communities rebuild after Hurricanes Idalia and Helene,” according to St. Petersburg’s website.  Funding is provided by the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant – Disaster Recovery (CDBG-DR) initiative. 

Tropicana Field repairs 

Additionally, the St. Petersburg government completed extensive repairs at Tropicana Field after its roof was destroyed by Hurricane Milton in 2024. The Tampa Bay Rays played the 2025 season at the New York Yankees’ spring training home, George M. Steinbrenner Field in Tampa. 

Fans were able to return to Tropicana Field for the Rays’ home opener in April. Mutnansky emphasized that the Rays’ presence in St. Petersburg supports local businesses that are a part of the “game day experience.” 

Master Plan updates

She added that the Innovation District published its Master Plan earlier this year, which outlines potential initiatives that could improve the approximately 560-acre area. The organization was established to encourage collaboration among scientists, educators, doctors, entrepreneurs, artists and community members.

A master plan for District 2, which includes the Gateway District, is currently being developed. It will serve as a guide for future growth, investments and resilience. The document, Mutnansky said, is estimated to be completed by this fall. 

Transportation initiatives 

Transportation initiatives have been a key focus for the City, she added. Earlier this year, St. Petersburg was named a “trail town” by the Florida Department of Environmental Protection’s Office of Greenways and Trails. 

The City has partnered with the Pinellas Suncoast Transit Authority on the Tampa Bay Ferry. Hubbard’s Marina will be the operator. The St. Petersburg government, Mutnansky said, anticipates that the year-round ferry service will return later this year at a temporary location. She explained that a permanent dock at the St. Pete Pier is in development. 

Tracey Smith, small business liaison and Greenhouse co-manager, discussed how the City is assisting local businesses.

Small business programs 

The Greenhouse, a partnership between the City and the St. Petersburg Area Chamber of Commerce, focuses on supporting company growth. It oversees multiple efforts including incentive programs, pitch events and business navigation services. 

She said that St. Petersburg’s Office of Supplier Development creates “meaningful pathways” for founders through initiatives such as the St. Pete Supplier Success Summit and the Ready. Set. Bid. Academy. 

According to the City’s website, the summit is an “one-day, high-impact convening designed to connect small and local businesses with contracting opportunities, resources, and strategic partners.” Ready. Set. Bid. Academy is an eight-week training program that “equips small businesses with the knowledge and skills needed to submit competitive proposals and win contracts” with the City. 

Smith said that the goal is to “ensure that St. Pete businesses are positioned to compete, expand and thrive.” 

The City of St. Petersburg’s Legacy Business Program, which launched this year,  honors long-standing small businesses from each Council district. These companies have served the community for 20 or more years. “Stories like theirs remind us that while businesses evolve over time,” she added, “their impact can span for generations.” 

One recipient was the Parc Center for Disabilities, which was established in the 1950s. The organization provides services to intellectually and developmentally disabled individuals, including workforce training. In March, the nonprofit unveiled its new Children’s Services Center. 

“We help individuals develop workplace skills and find meaningful employment,” Parc Center president and CEO Michelle Detweiler explained at the Wednesday event. “Individuals we support are working, earning paychecks, paying taxes and contributing to the economy.” 

Economic statistics 

Andrea Falvey, the City’s economic development manager, presented some statistics to outline St. Petersburg’s growth. She also discussed recently completed and ongoing city-wide projects. Additionally, Falvey talked about the City’s workforce education initiatives. 

Employment rose 12.1% over the last 10 years. Additionally, the labor force has increased by 10.6% in the same time frame. The unemployment rate in 2025 was 3.6%. 

Major employers in St. Petersburg, she said, include Raymond James, Jabil, Dynasty Financial Partners, Power Design, Johns Hopkins All Children’s Hospital and ARK Invest. 

City-wide projects 

Recently completed projects in the area include the Art House, 400 Central and ClearView residential communities. Additionally, Orlando Health opened the new Institute Square medical complex. 

Falvey added that multiple buildings are in the pipeline. These include the Waldorf Astoria Residences and the Roche Bobois St. Pete tower. 

Additionally, developer John Barkett and his wife Julie are working on a South St. Petersburg mixed-use revitalization project called the Looking Glass Initiative. The redevelopment is planned for a group of parcels located on Dr. Martin Luther King Jr. Street S. She said that the “commercial spaces will be reserved for locally owned small businesses.”

The Dalí Museum also announced a $65 million expansion in March. Construction is expected to begin later this year with a targeted opening date of September 2028.

Workforce training

“Sustainable economic growth not only requires fostering an environment where businesses of all sizes can flourish,” Falvey explained, “but it also necessitates the cultivation of a skilled workforce.” 

The Mayor’s Future Ready Academy initiative connects residents with employment opportunities and prepares them for career success. 

According to the City’s website, the 18-week program provides on-the-job training within City departments and an opportunity to earn multiple certifications. Twenty-four individuals graduated from the Academy in 2025. Seventeen students were employed by the City. 

St. Petersburg also partners with local organizations, she said, to provide summer and afterschool youth internship programs. 

The goal is to “make sure growth strengthens the people, places, workers, businesses and neighborhoods that make St. Petersburg what it is,” said Council chair Lisset Hanewicz at the Wednesday event. “Because the state of our economy is not only measured by what we build, it is measured by who benefits, who belongs and who can see a future here.”