Target Employment and Industrial Land Study (TEILS) Update
We evaluated Pinellas County's target industry space needs to determine how much land should be preserved for employment-generating uses.
Forward Pinellas
Economic Development Strategies / Plans, Market Analysis
Pinellas County, FL
As new State legislation created pathways to convert industrial and employment land to affordable and workforce housing, Forward Pinellas engaged SB Friedman as part of a project team to provide market and industry cluster analyses, which would inform decisions about the future of its employment land. While Forward Pinellas recognized the urgent need for additional housing, it also sought to protect high-paying, export-oriented industries with strong growth potential from increasing pressure for residential conversion. Our analysis helped identify the types of industrial and office spaces needed to support the county’s target industries, where gaps existed in the current real estate inventory, and how future land use policy could balance housing production with long-term economic development goals.
Work Completed
Conducted target industry cluster analysis and stakeholder interviews to understand the county's industrial and office ecosystem and identify gaps and opportunities
Performed industrial and office market analyses to evaluate current conditions and quantify demand for new development among target industries
Developed prototypical building profiles to benchmark existing buildings, assess obsolescence for modern tenants, and inform recommendations on building upgrades and future land use needs
Results
The Forward Pinellas Board approved the Target Employment and Industrial Lands Study (TEILS) in January 2023. The report is now being used to shape countywide land use policies and economic development strategies that support both job growth and long-term community resilience.
