Higher Labor Costs, Inflation Leads To Increased Parking Rates At Tampa Airport

TAMPA, FL — Following a year of historic inflation in Tampa Bay and rising labor and construction costs, Tampa International Airport is continuing with plans to expand the number of available parking spaces.

Current projects include installing moving walkways in the long-term parking garage and demolishing the outdated monorail in the long- and short-term garages. These improvements will eventually provide almost 500 new parking spaces across both garages.

The projects are advancing on schedule, due to be completed in mid-2024 at a cost of $30.4 million as part of the airport’s capital Improvement program.

But inflation has affected both the airport and the Tampa Bay area at a higher rate than in many other large airport markets. Per unit labor costs have increased 14 percent since before the pandemic, and parking facility operations costs over the next 12 years are estimated to be $72 million.

To help address these costs, the Hillsborough County Aviation Authority on Thursday approved a parking rate adjustment for TPA’s economy parking garage.

Beginning April 4, the maximum daily rate for economy parking will go up by $2, increasing the total for 24 hours of parking from $12 to $14. Hourly rates will not be affected.

“The airport’s economy parking garage is a superior value for our guests when compared to other large airports,” said Laurie Noyes, TPA vice president of concessions and commercial parking. “We offer travelers a clean and modern parking garage that’s a quick train ride from the Main Terminal, instead of a remote surface lot that’s only reachable by waiting for a shuttle bus.”

The authority also approved a future parking rate adjustment when current projects are completed The timing is not yet finalized but is scheduled to be the fourth quarter of 2024.

When that rate adjustment takes effect, daily maximum parking fees will be $28 in the short-term garage, $22 in the long-term garage and $18 in the economy garage.

Even after the change, TPA’s parking rates will remain competitive among large airports in the U.S. and still comparable to off-airport parking, Noyes said.

TPA parking rates can be obtained at a cheaper rate by reserving online at park.tampaairport.com. The online booking site, which launched in 2021, allows travelers to reserve a parking space up to a year in advance.

The last time the authority board of directors approved a rate adjustment for TPA parking facilities was in 2020.

This press release was produced by the Tampa International Airport. The views expressed here are the author’s own.