Pasco County’s tremendous growth in new residents and business expansions is driving demand for new office and industrial facilities as the county continues to attract companies to its north Tampa Bay community.
Even with unprecedented demand, building spec is a risky business considering the overwhelming costs of developing infrastructure. Early in the current development cycle, the Penny for Pasco, a Pasco taxpayer approved $0.01 sales tax increase, helped fill capital gaps with loans to developers willing to build spec. Additional developments were also supported through customized county incentive programs.
The Penny for Pasco and other county incentive programs continue to support many active projects, including Moffitt Cancer Center’s 775-acre Global Innovation Center, SPEROS FL. Construction is well underway on many projects and new office and industrial space is rapidly becoming available.
COUNTY-BACKED PROJECTS TAKING OFF
Moffitt Cancer Center Breaks Ground on 775 Acre ‘SPEROS FL’ Campus**
This groundbreaking and naming celebration for SPEROS FL kicked off construction of the 775-acre Pasco County campus to be used for the future of revolutionary cancer treatment and research. The campus will feature 16-million square feet of lab, office, manufacturing, and clinical space. Phase I will yield a minimum of 128,000 SF Corporate Business Park. Moffitt intends to pre-lease over 100,000 square feet of office and dry lab space in the proposed buildings.
North Tampa Bay 75 Business Center*
187,000 SF Distribution & Manufacturing Space- Now Available
Up to 850,000 square feet of warehouse-industrial space will be developed at the new freeway intersection of Interstate 75 and Overpass Road.
54 Crossings*
New Class A Office Space- First Major Tenant Signed
Located off FL54 near the Suncoast Parkway and nestled among award winning “Live-Work-Play” communities. 54 Crossings offers two 60,000± SF, Class A office buildings with floor plates and custom designed suites available.
OVER 6.7 MILLION SF OF PROJECTS UNDERWAY
Gary Plastic will be leasing 279,000 square feet of the 400,000 square foot building and is anticipated to bring approximately 555 total new jobs to the county over a 3-year period, with approximately 184 jobs at 125 percent of the average county wage.
Pasco Town Center**
Multiple Industrial Buildings- Phase I Under Development
4.5 million square foot industrial park planned for north Tampa Bay at the southeast corner of State Road 52 and Interstate 75. Single and multi-tenant space ranging from 75,000 to 1.6 million square feet.
Sunlake Business Center*
Flex Industrial- Delivery Q2 2023
Over 360,000 square feet of Class-A industrial-flex space under construction in the fastest growing areas of the Tampa Bay region. Minutes from the Suncoast Parkway.
Pasco County’s government leadership understands and supports the importance of a stable, pro-business atmosphere with local incentives in a right to work state in addition to low operating costs and no personal state income tax.
Pasco County promotes growth and prosperity through the development of a sustainable and diversified economy making Pasco County the perfect location to START, MOVE, and GROW your business.
*Penny for Pasco supported Speculative Properties
**Supported through customized county incentive programs
