TAMPA, Fla. — There are growing concerns in Hillsborough County about major losses in tax revenue starting next year, as companies are debating changes in the workplace that could have more people working from home.
AdventHealth last week announced it would not be renewing it’s lease next April for it’s nearly 60,0000 square feet of corporate office space in Tampa at Telecom Park.
What You Need To Know
- AdventHealth not renewing office lease at Tampa’s Telecom Park
- 80 percent of employees at that location now work remotely
- Other businesses expressing concerns about loss of tax revenue as companies keep employees home
Eighty percent of its employees at the Telecom location have been working from home since April.
AdventHeatlh told our partners at the Tampa Bay Business Journal that employees expressed benefits of working from home, citing more productivity, more time with family and less expenses because of not commuting to work on a daily basis.
Alexis Muellner, editor of the Tampa Bay Business Journal says companies are debating the pros and cons of work-from-home scenarios, and one of them is reducing overhead cost on expensive long-term leases.
“If you are a corporate executive and you are managing costs at a time where revenue is not as strong, then these are the kinds of things you are really going to look at closely,” Muellner said. “Can we figure out a way to have this in the future, even once there’s a vaccine.”
Outgoing Hillsborough County Tax Collector Doug Belden told Spectrum Bay News 9 in a recent interview, more than 30% of the counties tax revenue comes from commercial real estate.
Beldon said next year could be financially catastrophic for Hillsborough County, saying it could lead to “the most severe recession you could possibly take on.”
Tervis, a tumbler company, also recently decided to transition employees to more work-from-home jobs.
It is selling it’s North Venice headquarters and is looking for a smaller office space that would accommodate less in-office workers.