FOR IMMEDIATE RELEASE: February 10, 2005

Contact: Stacey Swank, Business Development Manager

Pinellas County Economic Development

(727) 464-7425 or sswank@pinellascounty.org

Tampa-St. Petersburg-Clearwater MSA

Wakes Up to A Cost of Living 6%
Below the National Average

The results are in for ACCRA’s Cost of Living Index, and the Tampa-St. Petersburg-Clearwater area ranks as the third least expensive urban area to purchase coffee in the United States.  According to ACCRA, the Tampa Bay MSA’s cost of living and coffee prices are below the national average, with St. Petersburg-Clearwater reporting a 93.9% cost of living, about 6% below the average.

“The ACCRA Cost of Living Index is an important economic development tool as we work to retain existing Pinellas County businesses and recruit new companies to the area,” stated Mike Meidel, Director for Pinellas County Economic Development. “A cost of living 6% below the national average positions Pinellas County as an ideal location for thriving businesses.”

The ACCRA Cost of Living Index measures regional differences in the cost of consumer goods and services and compares over 50,000 prices for 60 distinct items. The index measures prices from six components including: housing, utilities, grocery items, transportation, healthcare and miscellaneous goods and services.

Researchers from government organizations, chambers of commerce, and economic development organizations price everything from basic grocery items, including an 11.5 ounce brick of Folgers or Maxwell House coffee, to utility rates each quarter. The index helps business professionals gauge the cost of living accurately and efficiently.

The Five Most and Least Expensive Places to Buy Coffee

in the ACCRA Cost of Living Index (COLI)
Fourth Quarter 2004

Average for 305 Urban Areas = $2.70

Most Expensive            

1.  Honolulu, HI, $5.72     

2.  San Jose, CA, $4.79  

3.  Lake Havasu City, AZ, $4.29   

4.  San Francisco, CA, $4.28                   

5.  Oakland, CA, $4.26    

Least Expensive

1.  Camden, SC, $1.53

2.  Hilton Head Island, SC, $1.73

3.  Tampa MSA, FL, $1.75

4.  Charleston-N Charleston, SC, $1.79

5.  Gastonia, NC, $1.81

For more information, please contact Stacey Swank, Business Development Manager with Pinellas County Economic Development, at (727) 464-7425, sswank@pinellascounty.org, or visit www.Siliconbay.org.

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