At the Chamber’s recent Public Policy Roundtable, presented by St. Joseph’s Hospital - BayCare Health System, business leaders, housing advocates, economists, and policymakers gathered to examine how federal tariffs, rising costs, and market changes are shaping the region’s economic future.
The Business Perspective: Adaptability is Key
Christopher Cunningham knows all too well how costs are impacting business. As the President/Owner of Dry 24 Water Restoration LLC & True Value America, he shared how his company weathered hurricane recovery while adjusting to tariffs and supply chain challenges. His focus has been on AQ—Adaptability Quotient, using a “RAP” framework: Reflect, Adapt, Perform. By bundling products and services, expanding e-commerce, and helping clients like hospitals and developers cut costs, his company has stayed competitive despite rising expenses.
Housing Affordability Under Pressure
Emphasizing the urgent crisis in affordable housing, Vanessa McCleary, Vice President of Real Estate Development with the CDC of Tampa, shared that nonprofit developers face mounting hurdles with skyrocketing land and material costs compounded by tariffs. Many families are doubling up in housing because renting is unaffordable, and homeownership is increasingly out of reach. Vanessa called for innovative partnerships with the business community, suggesting employers invest alongside employees to help them purchase homes, a model that builds loyalty while stabilizing neighborhoods.
The Economic Outlook
Economic Consultant and Founder of Regional Economic Consulting Group Jared Parker provided a broader lens, explaining how tariffs filter through the supply chain. Roughly 75% of the costs are absorbed before reaching consumers, but the remaining burden still impacts household spending, retail, and tourism. While challenges loom, Florida’s strong reserves and lean government structure provide stability. Jared advised businesses and policymakers to “hold steady” and let policies play out before making drastic shifts.
The Federal Viewpoint
Congresswoman Kathy Castor stressed that uncertainty is the biggest obstacle for small businesses. Rising costs of goods, property insurance, and everyday expenses are compounded by unpredictable tariff policies. Bipartisan efforts in Washington are underway to rein in presidential tariff authority and reduce economic unpredictability.
From the audience, Mary Pat King, CEO of Girl Scouts of West Central Florida, shared that local nonprofits face the same financial pressures as small businesses, often without the same recognition or support. She urged those in the room who sit on boards to consider the challenges ahead for nonprofits, many of which are still recovering from the impacts of last year's hurricane season.
Takeaways for Tampa Bay
- Adaptability matters: Businesses that innovate and diversify their services can withstand economic shocks.
- Housing requires new solutions: Employer-supported homeownership and mixed market-rate/affordable housing may be part of the answer.
- Florida’s resilience is strong: State reserves and steady migration trends give the region a buffer, but long-term vigilance is needed.
- Policy uncertainty hurts everyone: From coffee shops to construction firms, unpredictability in tariffs and funding makes planning difficult.
As the voice of the business community, we want to hear from you. Share with us how your business or organization has been impacted by tariffs and policy uncertainty.
Contact Us:
Katie Lopez, Vice President, Advocacy