MEDIA ADVISORY

FOR IMMEDIATE RELEASE: May 10, 2005

Contact: Stacey Swank, Business Development Manager

Pinellas County Economic Development

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

Pinellas County, Florida:

Low Cost of Living on the ‘Other West Coast’

Pinellas County, Florida received its quarterly cost of living updates from ACCRA today, rating the area’s cost of living about 7% below the national average. Pinellas County residents and businesses enjoyed a 93.2% cost of living for the first quarter of 2005.

Pinellas County, located on the Gulf Coast of Florida, provides its residents with an excellent business climate, a skilled high-tech workforce, and an exceptional quality of life, with significant savings for both employers and employees. San Francisco, California received a composite index score of 178.8 for first quarter 2005, making the average cost of living 78.8% higher than the national average. San Diego was also above the national average, at 146.9%.

“Pinellas County works diligently to provide businesses with a climate poised for their expansion and growth. I am pleased the region continues to offer competitive costs with an exceptional quality of life,” stated Mike Meidel, Pinellas County’s Economic Development Director.

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, including T-Bone steaks, prescription drugs and a women’s haircut. The index measures prices from six components including: housing, utilities, grocery items, transportation, healthcare and miscellaneous goods and services.

Pinellas County remains competitive with other metro areas and rates well below the national average for everyday household items, including T-Bone steaks, a gallon of orange juice, and prescription drugs.

For more information about Pinellas County Economic Development, please contact Stacey Swank, Business Development Manager, at (727) 464-7425, sswank@pinellascounty.org, or visit www.Siliconbay.org. For more information about the ACCRA Cost of Living Index, visit www.accra.org.