FOR IMMEDIATE RELEASE: November 24, 2004

Contact: Stacey Swank, Business Development Manager

Pinellas County Economic Development

(727) 464-7425 or sswank@co.pinellas.fl.us

Pinellas County’s Cost of Living Ranks Below the National Average

The St. Petersburg/Clearwater Pinellas County area was ranked 4% below the nation’s average cost of living, according to ACCRA’s Cost of Living Survey, Quarter 3, 2004 results. The research organization announced Pinellas County’s composite index score at 95.7%, making the area appealing to expanding Pinellas County businesses and companies considering relocation to Pinellas.

“Pinellas County provides companies with an ideal business climate,” stated Mike Meidel, Director of Pinellas County Economic Development. “Pinellas County’s low cost of living combined with innovative investment tools and a booming high-tech center make the area a top choice for growing companies.”

The ACCRA Cost of Living Index measures the cost of consumer goods and services for professional and managerial households in 324 Urban Areas. The index is based on the prices of more than 60 items, from housing costs to frozen corn. Prices are collected quarterly by chambers of commerce, economic development organizations, university applied economic centers, and other similar organizations in each participating urban area.

ACCRA sampled several high-tech corridors around the United States, including Tampa-St. Petersburg-Clearwater MSA, Raleigh, NC MSA, San Diego, CA MSA, Boston, MA MSA, and Austin, TX MSA.  Among these high-tech centers, the Florida High-Tech Corridor’s costs ranked below the national average, receiving a 98.4% on ACCRA’s Cost of Living Scale.

For more information, and a compete listing of the results, visit ACCRA’s website at www.accra.org, or contact Stacey Swank at Pinellas County Economic Development, (727) 464-7425 or sswank@pinellascounty.org.