Mortgage News

Miami-Dade County Leading Economic Industries

By Araceli Villanueva

As i was reading my latest edition of the Invest Miami 2015 I learned so many things that i sincerely was not aware of and i thought about sharing with you all. Below is a brief overview of what is happening right now in Miami-Dade, consider them as some fun facts that you can read and learn about same as i did. Keep in mind that these are just bullets points or highlights if you prefer; each of those will be discussed more elaborately in my upcoming blogs. Here are the TOP INDUSTRIES that are driving Miami to becoming an Urban-Global City.

Economy:

  • Population increases, foreign investment and a diversifying economy propel Miami-Dade’s growth trajectory
  • Miami has a total of 2.6 million residents, and 34 municipalities
  • 65% of the population is hispanic and 60% businesses are owned by hispanics

Real Estate:

  • One of Miami-Dade’s most dynamic sectors, real estate exhibits strong performance, job growth and an influx of capital
  • Cutting-edge design and foreign investment boost high-end residential real estate
  • Rising density and enhanced cultural offerings spur the urbanization of Miami
  • Healthy employment growth spikes demand for office, industrial and warehouse real estate in Miami-Dade, outpacing supply

Construction:

  • Recovery spurred by foreign investment and innovative design increase job growth in Miami-Dade’s constructions sector
  • A mix of regulations and market demand is influencing a trend towards sustainable buildings in Miami-Dade
  • A bevy construction developments unfold in growing city

Tourism:

  • Millions of tourists flock to Miami-Dade County every year as tourism offerings become more attractive than ever before
  • PortMiami ranks first among global cruise ports and sees growth on the horizons

Trade & Logistics:

  • The expansion of the Panama Canal is expected to bring growth to Miami-Dade’s trade and logistics industries
  • As the 2016 Panama Canal Expansion completion date approaches, work is being done to ensure that PortMiami is ready for the increased activity
  • Increased logistics activity spur growth industrial real estate

Banking & Finance:

  • Driven by loan increased and a resurgent economy, Miami-Dade’s growing financial sector adapts to regulations
  • Good weather and favorable taxation lure institutional investors to Miami-Dade

Health Care Industry:

  • Strong employment growth and cutting-edge innovations bolster the health sector
  • New health policies are changing the landscape of paying for care

Technology and Innovation:

  • Critical mass builds in Miami-Dade’s budding tech industry as talent and funding increase

Retail:

  • From luxury goods to mass-market retail, demand for a new shopping in Miami-Dade is surging
  • Trends toward greater mixed developments are boosting retail offerings in Miami-Dade

Transportation:

  • Increased investment into Miami-Dade’s transportations network is driving the county forward
  • Developments in the county’s railway system unfold to alleviate traffic congestion in the county
  • Surging growth propels the aviation hub of the Americas to new heights

Entertainment, Arts & Media:

  • Miami-Dade’s hispanic culture significantly impacts the region’s entertainment and media industries
  • Arts in the county are becoming increasingly sophisticated and growing their economic impact

Sports:

  • An important economic generator , sports draw big crowds an big investments such as sports Miami Heat, Marlins, Dolphins and soon Miami will house a Soccer Stadium.

Fashion:

  • The City of Miami is working to get international fashion designers
  • Naeem Khan international fashion designer was awarded a grant and a lease on a county-owned building on the Miami River in order for him to move his entire operation from New York City to Miami

Movie Studios:

  • New movie studio in North miami, a 30 million project set on 160 acres with state-of-the-art aquatic production facility, production studio for post-production
  • North Miami has been already the house for movie sets, this add-on will just take the area to another level

Environment & Utilities:

  • Investments in climate change mitigation and water infrastructure promote long-term sustainable growth
  • Long-term strategies by the city of Miami Beach address concerns of sea level rise, while protecting some of the worlds most sought-after real estate

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