City of St. Petersburg elected officials and staff came together Wednesday to discuss the \u201cState of the Economy\u201d at the Mahaffey Theater.<\/p>\n
Cassidy Mutnansky, the City\u2019s economic development officer, outlined multiple St. Petersburg-led initiatives that are supporting citizens and businesses.\u00a0<\/p>\n
Resilience and disaster relief\u00a0<\/p>\n
Currently, the City is working on the St. Pete Agile Resilience plan<\/a> (known as SPAR) to \u201caddress flooding and at-risk infrastructure,\u201d according to the municipality\u2019s website.\u00a0<\/p>\n 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.\u00a0<\/p>\n 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.\u00a0<\/p>\n The City is distributing $159.8 million through the Sunrise St. Pete disaster recovery program<\/a> to \u201chelp residents and communities rebuild after Hurricanes Idalia and Helene,\u201d according to St. Petersburg\u2019s website. \u00a0Funding is provided by the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant \u2013 Disaster Recovery (CDBG-DR) initiative.\u00a0<\/p>\n Tropicana Field repairs\u00a0<\/p>\n Additionally, the St. Petersburg government completed extensive repairs<\/a> 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\u2019 spring training home, George M. Steinbrenner Field in Tampa.\u00a0<\/p>\n Fans were able to return to Tropicana Field for the Rays\u2019 home opener in April. Mutnansky emphasized that the Rays\u2019 presence in St. Petersburg supports local businesses that are a part of the \u201cgame day experience.\u201d\u00a0<\/p>\n Master Plan updates<\/p>\n She added that the Innovation District published its Master Plan earlier this year,<\/a> which outlines potential initiatives that could improve the approximately 560-acre area. The organization was established to encourage collaboration<\/a> among scientists, educators, doctors, entrepreneurs, artists and community members.<\/p>\n A master plan for District 2,<\/a> 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.\u00a0<\/p>\n Transportation initiatives\u00a0<\/p>\n Transportation initiatives have been a key focus for the City, she added. Earlier this year, St. Petersburg was named a \u201ctrail town\u201d<\/a> by the Florida Department of Environmental Protection\u2019s Office of Greenways and Trails.\u00a0<\/p>\n The City has partnered with the Pinellas Suncoast Transit Authority on the Tampa Bay Ferry. Hubbard\u2019s Marina will be the operator. <\/a>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.\u00a0<\/p>\n Tracey Smith, small business liaison and Greenhouse co-manager, discussed how the City is assisting local businesses. <\/p>\n Small business programs\u00a0<\/p>\n The Greenhouse, a partnership between the City and the St. Petersburg Area Chamber of Commerce<\/a>, focuses on supporting company growth. It oversees multiple efforts including incentive programs, pitch events and business navigation services.\u00a0<\/p>\n She said that St. Petersburg\u2019s Office of Supplier Development<\/a> creates \u201cmeaningful pathways\u201d for founders through initiatives such as the St. Pete Supplier Success Summit and the Ready. Set. Bid. Academy.\u00a0<\/a><\/p>\n According to the City\u2019s website, the summit is an \u201cone-day, high-impact convening designed to connect small and local businesses with contracting opportunities, resources, and strategic partners.\u201d Ready. Set. Bid. Academy is an eight-week training program that \u201cequips small businesses with the knowledge and skills needed to submit competitive proposals and win contracts\u201d with the City.\u00a0<\/p>\n Smith said that the goal is to \u201censure that St. Pete businesses are positioned to compete, expand and thrive.\u201d\u00a0<\/p>\n The City of St. Petersburg\u2019s Legacy Business Program,<\/a> which launched this year,\u00a0 honors long-standing small businesses from each Council district. These companies have served the community for 20 or more years. \u201cStories like theirs remind us that while businesses evolve over time,\u201d she added, \u201ctheir impact can span for generations.\u201d\u00a0<\/p>\n One recipient was the Parc Center for Disabilities<\/a>, 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\u2019s Services Center<\/a>.\u00a0<\/p>\n \u201cWe help individuals develop workplace skills and find meaningful employment,\u201d Parc Center president and CEO Michelle Detweiler explained at the Wednesday event. \u201cIndividuals we support are working, earning paychecks, paying taxes and contributing to the economy.\u201d\u00a0<\/p>\n Economic statistics\u00a0 <\/p>\n Andrea Falvey, the City\u2019s economic development manager, presented some statistics to outline St. Petersburg\u2019s growth. She also discussed recently completed and ongoing city-wide projects. Additionally, Falvey talked about the City\u2019s workforce education initiatives.\u00a0<\/p>\n 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%.\u00a0<\/p>\n Major employers in St. Petersburg, she said, include Raymond James, Jabil, Dynasty Financial Partners, Power Design, Johns Hopkins All Children\u2019s Hospital and ARK Invest.\u00a0<\/p>\n City-wide projects\u00a0<\/p>\n 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.\u00a0<\/p>\n Falvey added that multiple buildings are in the pipeline. These include the Waldorf Astoria Residences and the Roche Bobois St. Pete tower.\u00a0<\/p>\n Additionally, developer John Barkett and his wife Julie are working on a South St. Petersburg mixed-use revitalization project<\/a> 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 \u201ccommercial spaces will be reserved for locally owned small businesses.\u201d<\/p>\n