Mike Swesey, President & CEO, St. Pete Economic Development Corp.

In an interview with Invest:, Mike Swesey, president and CEO of the St. Pete Economic Development Corp., discussed the organization’s strategic initiatives to boost the city’s economic growth. He highlighted efforts to expand office space, refine St. Pete’s brand identity, and align industry targets with regional strengths to position St. Pete as a prime business destination.

After your first year as president and CEO, what key initiatives have you focused on, and how have these initiatives changed your vision for St. Pete’s economic growth?

In terms of initiatives, we have been looking closely at sectors that are growing and the opportunities ahead. One of the challenges in the past was the lack of available office space, but now, with several new developments announced, more space is coming online. That is great news for us. We are providing essential data and information for companies to make informed decisions about relocating or moving to the region.

Central to this effort has been updating our website as we work on developing a brand identity for the St. Pete Economic Development Corporation (EDC) that focuses on St. Pete as a business location. The current site was built seven or eight years ago when the organization started, so it is overdue for a refresh. We are building new search engine optimization features and other identifiers to improve visibility. The goal is to raise awareness of St. Petersburg as a prime business location, not just a vacation destination.

Additionally, we are evaluating the key industries we have been targeting to ensure they align with our strengths. We are analyzing recent success stories of companies that relocated or expanded here. Another focus area is studying workforce trends to understand who is moving into the Tampa Bay region and identifying the new talent that is joining our workforce.

What are some of the key sectors driving growth in St. Pete, and what are your expectations for them in the future?

Financial services is one of our strongest sectors. Raymond James, which was the first major financial services company to establish its headquarters in St. Pete, is now a Fortune 500 company. Recently, we have seen more financial services companies relocating here, many from the New York City area and the Northeast. One standout has been Webull, which purchased a building and opened an office here in 2023, moved its HQ from NY, went public in early 2025, and Fintech is another growing sector, providing solutions to the larger financial firms in our area. In addition, climate technology and advanced manufacturing are emerging industries. While we may not have large areas of land for massive manufacturing operations, Pinellas County has become a hub for specialized advanced manufacturing. In fact, it is among the top output counties in Florida’s manufacturing sector. And now, with Foot Locker and other successful HQ relocations coupled with new office space, we are making corporate headquarters more of a focus.

Beyond that, we are focusing on green technology, the blue economy, and defense technology. We are still refining how we define these areas, but they are important parts of our strategy. 

How are you balancing the need for workforce housing with other priorities?

Workforce housing is a national issue, and St. Pete is no exception. The Gas Plant District redevelopment will include over 1,200 units of workforce housing. The Hines-Rays partnership has committed to building approximately 600 units on-site and another 600 units elsewhere in the community.

In addition, the city has introduced incentives to promote workforce housing. Recently, they passed new regulations for accessory dwelling units, which are smaller units that can be built on existing properties. These units could be used for rental income or to house family members. Our city is taking meaningful steps to address the housing challenge, and I believe we are moving in the right direction.

How is the relocation of Foot Locker’s global headquarters to St. Petersburg and other development projects impacting the job market in the region?

The Foot Locker announcement was fantastic. They considered the area a few years back, but their plans were put on hold. Fortunately, we enticed them to finalize the decision this time. They will move the bulk of their employees from New York City to St. Petersburg.

It is not an enormous project so to speak, but it is a significant one as Foot Locker is a major name. In total, it will mean about 300 to 400 jobs. Some of their staff are already in the area, but at least 150 new positions will be relocated. They chose the Gateway/Carillon area, which is just north of downtown St. Petersburg. This location gives them access to the region’s population base of about 3.2 to 3.3 million people, making it easier for employees to commute.

This relocation also makes the area more attractive to other companies. If things do not work out with one employer, employees know there are other major options here, including Fortune 500 companies. Success breeds success, as they say. When a major company such as Foot Locker makes a move, other companies start taking notice.

Foot Locker is St. Pete’s third Fortune 500 company, along with Jabil and Raymond James, while TD SYNNEX is in Largo. Tampa Bay has the largest concentration of Fortune 500 headquarters in Florida outside of Miami.

What are some challenges you are facing as you foster business growth, and how do you plan on addressing them?

A couple of things come to mind, but one challenge we face is the limited availability of class-A office space. We do not have a lot of office space in general, but we have excelled at recruiting smaller companies. Many of these companies, with 25 to 50 employees, have grown significantly after relocating here.

For instance, Dynasty Financial Partners moved to St. Petersburg with 40 employees, and now they have around 150. These are the types of wins we are aiming for. However, as more class-A space becomes available, we will be able to target larger companies and pursue more ambitious opportunities.

We plan to market aggressively to Fortune 500 and Fortune 1000 companies. We are also focusing on companies operating in high-cost markets. If a company with 50 to 100 employees wants to grow, they will likely reconsider their operating costs. St. Petersburg could offer them a more sustainable environment for growth.

What are your top priorities for the EDC over the next two to three years?

The outlook is excellent, and we have several key priorities. One major focus is to continue engaging with the site selection community across the country. We maintain a robust database, including consultants, CEOs, and business influencers, who regularly receive updates about St. Petersburg.

We will also travel to major markets to meet with these site selection and company decision-makers in person. Additionally, our new website launched earlier this year, allowing us to promote the “Become St. Pete” brand.

We plan to participate in targeted events and collaborate with Visit St. Pete and Clearwater, which does a fantastic job marketing the area in cities like New York, Chicago, Philadelphia, and Boston. Our goal is to align with their efforts and promote not only tourism but also business relocation. Today’s visitors could become tomorrow’s business owners, and that is a message we want to spread.