The center estimates that it has a statewide economic impact of $100 million annually, generates 100,000 hotel room nights a year, and has 110 full-time and 250 part-time employees.

In 2018 the Straz Center went under an extensive multi-million dollar renovation that included new wood floors on the stages, new cooler LED lighting, and improved dressing rooms for performers.

[7][8] The performing arts complex consists of five distinct theaters, a rehearsal hall, retail shops, on-site restaurants and banquet facilities.

With the Patel Conservatory, the Straz Center has added 45,000 square feet (4,200 m2) for its extensive education programs.

In 2017, the Conservatory delivers outreach arts education services to 45 partnering schools and agencies in four counties.

The traditional horseshoe-shaped auditorium has continental seating on four levels: orchestra, mezzanine, balcony and gallery.

The 3,500-square-foot (330 m2) TECO Energy Foundation Theater dominates the west end of the first floor of the Patel Conservatory.

Annual events include the Broadway Ball, Best of Tampa Bay, Eggstravaganza, and a facility-wide Open House in the fall.

The center promised "to do more to support the lives, art, stories and culture of those who are Black, Indigenous and Persons of Color...and to hold our institution accountable."