Tampa Hillsborough Economic Development Corporation

What it reported doing in 2024

East tampa and the tampa medical & research district were the two areas of focus for community development's placemaking activities in fy 2025.in east tampa, considerable progress has been made towards the implementation of the east tampa industrial district plan. Opportunity tampa bay, inc. (otbi) was formed by the edc to work with local economic development partners and is the entity developing the live-learn development to consist of 118 units of affordable housing and a 65,000 square foot training facility. In 2025, the tampa cra board of commissioners approved a $9.7 million grant to the integral Florida group in support of the affordable housing component, and to provide site work improvements for both the housing and training facility. The city of tampa's support for the project has exceeded $12 million.anchored by tampa general hospital (tgh) and usf health, the tampa medical and research district (tmrd) continues to collaborate with the tbedc to advance its development and growth. This year, the tmrd vision plan was finalized, establishing a five-year framework to expand healthcare-related businesses and research within the district. As part of this effort, tgh organized tmrd as a subsidiary of the Florida health sciences center and located its headquarters in ybor city, transforming the historic masonite building into an innovation hub for healthcare research and technology.the community development capital access program has introduced a technology-driven search engine that reports financial tools available on the edc website, helping to attract business investment inunderserved areas. In 2025, two federal tax credit programs, qualified opportunity zones and new markets tax credits became permanent to stimulate economic development in low-income communities. Community development is collaborating with edc investors, as well as city and county officials, to identify catalytic projects where these programs can help close financial gaps.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 1.4%; rating input score 39; 39th percentile among comparable filings
• Total-asset coverage ratio: 1.12; rating input score 41; 41st percentile among comparable filings
• Liabilities to assets ratio: 0.65; rating input score 15; 15th percentile among comparable filings
• Officer compensation ratio: 31.3%; rating input score 5; 5th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
• Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings