Cathie Wood argues for the ARK Ellison Horus plan for the Gas Plant site | Column

When I first rode down Central Avenue after ARK relocated to St. Petersburg in 2021, I felt something unexpected: a vibe. A restless, creative, entrepreneurial spirit, the kind that marks a place on the verge of something big. I kept thinking: This is where Austin was a decade ago. We wanted to be part of it.

That instinct has only grown stronger. More than 75% of all new tech start-up spending in America flows to California, Massachusetts, New York and Washington. That concentration once felt permanent. It isn’t anymore. Lower taxes, lower costs, fewer regulatory burdens and a higher quality of life are now competitive advantages — and on every one of those dimensions, Tampa Bay wins.

Tampa Bay is becoming a serious innovation region. The Tampa Bay Economic Development Council’s Future Ready plan identifies AI, digital infrastructure and blue technology (ocean-based sustainable innovation) as the region’s three catalytic priorities — and we have the assets to lead in all three. USF holds an R1 research designation. MacDill Air Force Base and U.S. Special Operations Command anchor defense infrastructure adjacent to the fastest-growing tech sectors. A metro of more than three million people continues to attract young professionals at a rate ranking among the nation’s top 10. The question is no longer whether Tampa Bay belongs in the conversation. The question is whether we will build boldly enough to make it undeniable.

When the previous Gas Plant District plan collapsed, we saw not just a development gap, but a moment of consequence. A site at the heart of one of America’s most dynamic emerging cities cannot remain neutral; it will become something transformative or something forgettable. That conviction is why we brought forward our $6.8 billion proposal: A master-planned innovation district designed to structurally reposition St. Petersburg as a national destination for technology, commerce, culture and talent.

Since the ARK Ellison Horus submission in October, the proposal has strengthened considerably.

On execution: We have established the Gas Plant District Development Company, LLC, a joint venture with KETTLER, one of the most experienced large-scale mixed-use development firms in the region, with over 45 years of delivery and deep Tampa Bay roots. KETTLER’s president of development, James Nozar, previously led Water Street Tampa. Designing and delivering our anchor venue, Innovation Hall, is AECOM Hunt, whose portfolio includes the Javits Center expansion, the Los Angeles Convention Center and the London 2012 Olympic Games.

On programming, jobs and the arts: Moffitt Cancer Center has signed a memorandum of understanding to anchor applied AI development through its Speros initiative, and we are reserving additional space for a second AI-driven job creation engine. We are also committing space to something this region has never seen: a math- and STEM-focused institution, effectively the IMG Academy of applied science and technology — where students won’t just study innovation, they’ll live inside it, learning alongside researchers, engineers and venture-backed startups. This is how you build the workforce of tomorrow. We have also reached an agreement with world-renowned media artist Refik Anadol to develop a community-led initiative pairing his pioneering AI-generated work with local St. Petersburg artists — positioning the Gas Plant District where technology and creativity converge.

No vision for this district is complete without honoring what came before it. The Gas Plant District has a history, one of displacement, of promises made and broken, of a community that deserves better. More than half of the housing proposed will be affordable and workforce housing. We are committed to preserving the Woodson African American Museum of Florida and to ensuring the Unity Bridge, connecting this district to surrounding neighborhoods, is a genuine commitment to belonging. The history of this land will not be paved over. It will be woven into everything we build.

Talent and capital are moving. Tomorrow’s jobs can be located here. We are on the right side of change. This is St. Pete’s and Tampa Bay’s platform moment, honoring our history, investing in our people and building the cultural and educational foundation that turns tomorrow’s jobs into today’s reality.

Cathie Wood is CEO and Chief Investment Officer of ARK Investment Management, based in St. Petersburg.