Its innovation culture, diversity and inclusion, high levels of investment, and skilled workforce, combined with compelling cost advantages, infrastructure, and international connectedness, render Miami-Dade an exceptional base for businesses geared for global success.
World Biz Magazine recently announced Miami-Dade County as the Best Region in North America for Investment in 2021 - 2022. This recognition followed a detailed evaluation process by our team of researchers that began with a list of 50 regions across the USA and Canada. Our analysts carefully compared the unique advantages and track records of each of the regions to narrow down to the top 4. The final phase in the process was the presentation of the finalists to our Editorial Board who selected the winner. This article presents the key reasons for Miami-Dade’s selection as the Best Region for Investment in North America.
Spanning 34 municipalities, the Greater Miami region boasts a population of 2.7 million and access to a regional workforce of 3.1 million. Miami was recently ranked the USA’s fourth fastest-growing large city by WalletHub, with the larger Miami-Dade region hosting multiple Fortune 500 companies and more than 1,400 multinational corporations. Its innovation culture, diversity and inclusion, high levels of investment, and skilled workforce, combined with compelling cost advantages, infrastructure, and international connectedness, render Miami-Dade an exceptional base for businesses geared for global success.
Recent Moves To Miami-Dade
Norway’s Atlantic Sapphire recently invested $480 million to open its U.S. headquarters and salmon farming operation.
$6 billion venture capital firm Founders Fund recently opened a Miami office.
Blackstone, the largest alternative investment firm in the world, opened an advanced regional financial services technology headquarters in Downtown Miami.
Millennium, Apollo, I Squared Capital, Icahn Enterprises and Starwood Capital have all recently come to Miami.
CI Financial, Canada’s largest investment management firm, recently moved their global headquarters to Miami.
Numerous next-gen companies have made Miami their home. This includes HealthTech firms Papa, HealthSnap, Heru, and Medtronic. This also includes fintechs such as: ACI Worldwide, Majority, Bank Novo, Fortú, YellowPepper, NovoPayment, Finconecta, Milo and Nirvana founded by former Paypal CEO Bill Harris.
In the DeFi space, Blockchain.com, VC firm Borderless Capital, and eToro (the world’s second-most popular crypto exchange), have all established headquarter offices in Miami. Crypto exchange FTX is not only opening an office, they have also invested $90 million to secure the naming rights to the Miami Heat’s arena.
There is no state or local personal income tax, corporate income tax is low, and businesses can rely on a favorable regulatory climate.
Business Friendly
Locating in Miami-Dade is a great financial decision. There is no state or local personal income tax, corporate income tax is low, and businesses can rely on a favorable regulatory climate. This entrenched inclination towards business friendliness ensures a strong platform to operate in the USA and internationally.
The South Florida area is home to over 1,400 multinational businesses staffed by skilled and energetic residents speaking 128 languages. In addition, there are over 5,200 financial services firms (the 2nd largest international banking center on the east coast), and legal and accounting firms covering the full spectrum of multinational corporations’ transaction requirements.
Gateway To The World
Companies from every region of the world have regional or global headquarters in Miami because it is the perfect pivot point to manage operations in both North and Latin America. The South Florida area is home to over 1,400 multinational businesses staffed by skilled and energetic residents speaking 128 languages. In addition, there are over 5,200 financial services firms (the 2nd largest international banking center on the east coast), and legal and accounting firms covering the full spectrum of multinational corporations’ transaction requirements.
Miami-Dade is also home to the USA’s third largest number of consular corps, foreign trade offices, and binational chambers of commerce. Some of Miami-Dade’s multinationals include Airbus, Amazon, American Airlines, Apple, Benihana, Brightstar, Boeing, Burger King, Carnival Cruise Lines., Cisneros Group, DHL Express, Ford, Greenberg Traurig, HEICO, Heineken Americas, MasTec, MasterCard Worldwide, NBCUniversal Telemundo Enterprises, Norwegian Cruise Lines, Noven Pharmaceuticals, Novartis, Perry Ellis International, Royal Caribbean Cruise Lines, Ryder Systems, SoftBank Group, Sony Entertainment, Virgin Voyages, Wix, and World Fuel Services Corp.
Strong transport and communication networks, an established Free Trade Zone, and major infrastructure investments ensure Miami’s seamless connectivity and guarantee a stable platform for businesses to launch and expand internationally.
Seamless Connectivity
Miami-Dade is easily accessible to all areas of the globe, with the region’s three international airports handling more than 2,000 daily flights. One of two globally certified Pharmahubs, Miami International Airport is the #1 airport in the country for international freight, 2nd for international passengers and 3rd for total freight. PortMiami –boasting the only Panamax-ready port south of Virginia – plays a leading role in global commerce and is the driving force behind $43 billion in economic activity. Miami is also known as the ‘cruise capital’ of the world.
Strong transport and communication networks, an established Free Trade Zone, and major infrastructure investments ensure Miami’s seamless connectivity and guarantee a stable platform for businesses to launch and expand internationally.
Businesses driving innovation in aviation, banking and finance, media and creative, hospitality and tourism, technology, trade and logistics, blockchain, cryptocurrency life sciences and healthcare are benefiting from an abundance of regional talent.
Highly Skilled And Diverse Talent
South Florida residents speak 128 languages, they are a part of the “tri-county” market of 6.1 million residents and a combined workforce of over 3 million people. They are highly educated: Miami is top in the USA for percentage growth of adults with graduate degrees, and second in the nation for foreign-born residents with advanced degrees. As a welcoming, diverse community, Miami-Dade is a magnet for top talent from around the world as well as its own homegrown best. The local pipeline is exciting: There are more than 250,000 college students and 345,000 K-12 students being trained at award-winning institutions, and many more at dozens of coding schools and apprenticeship programs. Miami-Dade’s higher education institutions have expertise in growth fields such as sustainability, artificial intelligence, supply chain management, international business, electrical engineering, and other cutting-edge areas.
Miami has over 200 accelerators, incubators, coding schools, and other organizations that support the startup ecosystem. Regional workforce training programs led by CareerSource South Florida, Miami Community Ventures and other partners, co-create curricula based on unique employer needs and deliver training on campus, online or at the employer’s site. For executive and leadership teams several universities offer tailored programs to advance business and leadership skills.
Businesses driving innovation in aviation, banking and finance, media and creative, hospitality and tourism, technology, trade and logistics, blockchain, cryptocurrency life sciences and healthcare are benefiting from an abundance of regional talent.
Proud of its diversity and open-mindedness, Miami welcomes everyone, with more than 50% of the community’s residents being foreign born.
A Global Cultural Capital
Living the dream is a reality in Miami with endless opportunities for world-class shopping, dining, and entertainment. For adventure and outdoor activities, Miami-Dade offers world famous beaches (95 miles to be exact) and 250 days of sunshine annually. For sports and recreation, there are many parks, golf courses, tennis courts, bike paths, soccer fields, basketball courts, boat ramps, outdoor parks and miles of ocean. For sports fans, Greater Miami is globally unique, it is the only metropolis with professional basketball, football, baseball, hockey, soccer and Formula1 teams.
Greater Miami has become a capital for international art and culture (the city hosts Art Basel Miami Beach, Miami International Film Festival, Miami Book Fair, South Beach Wine & Food Festival, Carnival Miami and other cultural events throughout the year). There are also many world-class museums, performing arts and music events, and celebrity chefs crafting haute cuisine.
Proud of its diversity and open-mindedness, Miami welcomes everyone, with more than 50% of the community’s residents being foreign born. Miami is also home to an LGBTQ community with over $8 billion in annual purchasing spend power. Miami has been ranked the #1 Happiest City to Work according to CareerBliss – and #1 Happiest City in the U.S. (period!) by Mindbody Wellness Index.
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Miami-Dade Beacon Council is the county’s official economic development partnership. Attracting and retaining companies that create high-value jobs and invest in our community, The Beacon Council is committed to driving long-term economic prosperity and inclusive growth for Miami-Dade County, its businesses and residents. We achieve this by marketing Miami-Dade as a world-class business destination; growing local companies and fostering entrepreneurs; and shaping Miami-Dade’s economic future. Established in 1985, The Beacon Council has attracted more than 120,000 new jobs and $7 Billion of new investment to Miami-Dade County.
For more information, visit beaconcouncil.com
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