Todd Phelps, Partner, Stinson

July 2026 — Invest: spoke with Todd Phelps, partner at national law firm Stinson LLP, about its rapid expansion in Tampa Bay, the structural drivers behind the region’s sustained growth, and how legal strategy must evolve alongside capital and development trends. “Both domestic and international investors view the region as a stable and attractive market for development,” Phelps said.

What drew you to Tampa Bay, and what stands out to you about the market today?

I relocated to Tampa about four years ago after spending much of my career in Stinson’s Minneapolis office. I had already been working extensively in Florida, helping relocate one of my largest clients, a publicly traded Fortune 500 company, when it moved its headquarters from Minneapolis to Tampa in 2016. That experience gave me an early window into the strength of the Tampa Bay market.

What stands out to me is the energy. While there are certainly multigenerational families here, it also feels like a place where many people chose to be. I often describe it as being like a freshman in college, where everyone has a story about how they arrived. That creates openness, connectivity, and a business culture that is collaborative rather than insular.

It is also important to dispel the outdated perception that this region is primarily retirement-driven. Tampa Bay is a growing business community that is also young and vibrant. The demographic profile is shifting, and you see that reflected in corporate expansion, infrastructure investment, and entrepreneurial activity across multiple sectors.

How has Stinson’s presence in Tampa Bay evolved since opening the office?

We opened our Tampa Bay office about two and a half years ago with a thoughtfully curated, core group of five attorneys. In a relatively short period of time, we have more than tripled in size, and the growth has been across a broad range of practice areas to meet client needs as well as market-specific growth areas.

As one of the founding five attorneys of our Tampa Bay office, I am a real estate, public finance, and construction attorney, and we have now expanded into corporate finance, data center development, labor and employment, tax credits, litigation (class action, commercial, insurance, real estate), healthcare, product liability and regulatory, cannabis law, antitrust, white collar criminal defense, private business, sports, renewable energy (solar specifically), mergers & acquisitions, estate planning, corporate finance, bankruptcy, and insurance. That breadth that Stinson offers to its community mirrors the broader Tampa Bay economy. This is not a niche market focused on one or two industries. It is diversified, sophisticated, and increasingly national in scope.

We were fortunate to be in the black on day one when we opened. That was possible because we were already serving clients in Florida for years before establishing a physical presence. I have personally been licensed here for over a decade, and many of my colleagues have had similar long-term involvement to support their clients and their growing needs. The office formalized something that was already happening organically.

What recent developments at Stinson have had the greatest impact on client service?

Two developments are particularly significant.

First, Stinson is now a coast-to-coast firm. We recently added a 50-attorney firm with offices in San Francisco and Irvine, and like Tampa, opened and staffed a new office in Los Angeles. That expansion matters because our clients do not operate in just one market; many of our clients have offices in New York, Washington, D.C., Minneapolis, St. Louis, Denver, Phoenix, and California. When they are expanding in Tampa, they want legal teams that can support them consistently across their markets of operation.

Second, we have taken a deliberate and forward-thinking approach to artificial intelligence. Lawyers historically have not been early adopters of new technology, but our clients expect efficiency and modernization. We approached AI carefully, particularly because client confidentiality is paramount in the legal field. I personally participated in multiple pilot programs evaluating AI platforms, and we have implemented tools thoughtfully across both transactional and litigation practices.

AI will not replace us, though it will and does enhance our overall practice and how we deliver high-quality work more efficiently to clients. This use of technology ultimately benefits clients without diminishing the importance of professional judgment.

How competitive is the talent landscape in Tampa Bay, and how are you responding?

The talent market in Tampa is tight and highly competitive. The attorneys we interview often have multiple offers. That is a positive indicator for the regional economy, but it does require strategic recruiting.

We are focused on sustainable growth rather than hitting an arbitrary headcount number. There are specific areas where we see long-term opportunity, particularly environmental and insurance practices. Given Florida’s regulatory landscape and exposure to environmental and risk-related considerations, those areas are strategically important.

Ultimately, culture and opportunity matter. We aim to offer attorneys meaningful work in a growing market, with access to a national platform.

What broader trends are shaping real estate and business activity in Tampa Bay?

The defining trend is sustained outperformance relative to peer markets. From my perspective, the growth here is structural rather than cyclical. This does not feel like a temporary boom.

Population growth continues to support demand. While inflows may have moderated from pandemic peaks, the region still attracts both individuals and companies. I routinely speak with business leaders across the country who are evaluating whether to relocate part or all of their operations to Florida. Tampa Bay is frequently part of that conversation.

Alongside population growth, capital investment remains strong. Both domestic and international investors view the region as a stable and attractive market for development. That combination creates consistent demand for real estate projects, financing structures, and expansion strategies.

The legal work tied to these projects has become more complex. Capital is selective, projects are multifaceted, and regulatory considerations require careful navigation. Strategic legal guidance has become central to successful execution.

How do you approach community engagement as part of your growth strategy?

Community engagement is essential. When we considered opening in Tampa, we examined our Top 100 clients by revenue and found that more than 40 had a significant presence in Florida. That reinforced the importance of being physically present where our clients operate.

Since opening, engagement has been about relationships. Tampa’s business community is welcoming and accessible to attend events, meet peers, and build networks because many leaders here are also relatively new to the market.

That openness accelerates collaboration. Being physically present allows us to have face-to-face conversations that deepen trust and understanding.

What are your priorities for the Tampa office over the next two to three years?

Our goal is to double in size to approximately 35 to 40 attorneys within the next few years. That growth must be strategic, aligned with market demand, and focused on high-quality talent.

We also aim to continue strengthening relationships within the region. Tampa Bay’s trajectory suggests sustained opportunity, and we want to remain integrated into the development conversation as projects scale in complexity.

Having a physical office downtown has reinforced that commitment. We are embedded in the daily rhythm of the city, which matters when serving clients navigating large-scale developments.

How would you characterize Tampa’s civic leadership and its impact on growth?

One experience was particularly telling. When we opened the office, the mayor personally visited to welcome us. That level of engagement from city leadership sends a powerful signal.

When I asked what drives the visible vibrancy — cranes, construction, and foot traffic — the answer was straightforward: safety, security, and a welcoming environment. Business confidence depends on those fundamentals.

Like any major metropolitan area, Tampa faces challenges. However, the city’s leadership appears focused on maintaining the conditions that support growth. That stability underpins long-term investment decisions.

Tampa Bay’s growth is not accidental. It is supported by leadership, capital inflows, demographic shifts, and a business culture that embraces opportunity. That combination positions the region for continued expansion in the years ahead.