The Tampa Bay region is set to see a boom in tech-related jobs in the next decade, according to a new report.
The Boston Consulting Group and Washington, D.C.-based trade association CTIA found the Tampa-St. Petersburg-Clearwater metro area is slated to gain roughly 29,521 jobs by 2030, specifically related to 5G — the fifth generation of telecommunications technology used to help decrease lagging and connectivity issues.
The Tampa Bay MSA is also reportedly expected to have growth of more than $10.2 million from 5G implementation within the same time frame. Across the nation, 5G could create up to 4.6 million jobs and add $1.7 trillion to the country's GDP, the report says.
"There has been a lot of hype about 5G networks — and it’s actually well-deserved," the report states. "5G will become a foundation for innovation, transforming many sectors of the U.S. economy and creating industry verticals not imagined today."
The boost is expected initially as a direct result of network infrastructure deployment, then poised to make more of an indirect impact to a variety of sectors. The report said the industries that stand to gain the most are information services (205,000 jobs), manufacturing (380,000 jobs) and health care (341,000 jobs).
"When 4G launched, few would have predicted new services such as ridesharing and food and grocery services on demand," the report said. "Likewise, 5G will spur innovation that we can’t predict today and will transform everyday life in unforeseen ways."
Tampa Bay has already begun its work on a 5G rollout. Verizon spent $80 million outfitting Raymond James Stadium and surrounding businesses for Super Bowl LV, and Tampa International Airport did the same in preparation for an onslaught of Super Bowl travelers.
"In Tampa, [5G has] been rolling out the last six months and it's the densification for not just Raymond James Stadium, but surrounding hotels and surrounding businesses," said Tami Erwin, EVP and CEO for Verizon Business. "What we have heard, where we deployed 5G and the network capability, is it is a game changer in economic recovery, particularly coming-out of the Covid post-year."
