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The Beacon CouncilMiami-Dade County’s Official Economic Development Partnership
South Florida Association for Financial Professionals
Jack LowellChairman, The Beacon Council
Jaap Donath, Ph.D.Vice President, Research & Strategic Planning
May 10, 2011
• marketing our diverse community assets,
• developing and coordinating programs that will attract new investment, and
• acting as an advocate to facilitate the successful economic development of all Miami-Dade County.
The creation and retention of jobs and expansion of businesses in Miami-Dade County.
Our public-private partnership will achieve this mission by:
The Beacon Council Mission Statement
A non-profit 501c(6) corporation that assists with local business expansions, the retention of existing firms, and actively solicits new business development in Miami-Dade County from other parts of the world.
The Miami-Dade Beacon Council Foundation, Inc. 501 c(3) has begun operations in 2010. Used for special projects.
The Beacon CouncilLegal Structure | (501c6) & (501c3)
THE BEACON COUNCILMiami-Dade County’s Official Economic Development Partnership
The Beacon Council offers the following free and confidential services:
• Market Research and Demographic Information
• Business Costs Information
• Site Selection Assistance
• Permitting Facilitation
• Access to Labor Training
• Access to Financial and Incentive Programs
MIAMI-DADE COUNTYIndustry Sector Focus
• International Commerce/Multinational Corporations
• Information Technology/Telecommunications
• Film & Entertainment
• Visitor Industry
• Aviation
• Fashion-Lifestyle
• Life Sciences
• Financial Services
International Geographic Target Markets for Miami-Dade County
Top ThreeMarkets
EmergingMarkets
OtherMarkets
1. Spain 1. Germany 1. Venezuela
2. France 2. United Kingdom 2. Colombia
3. Canada 3. Mexico 3. Argentina
4. Japan 4. China
5. Italy
6. Brazil
Domestic Geographic Target Markets for Miami-Dade County
• Metropolitan NY/NJ
• Atlanta
• Chicago
• California
• Dallas
• The average resident’s age is 65
• Home of Miami Vice
• Lots of hurricanes
• We only have beaches and not much else to do
• People only speak Spanish
• There are too many insects
• We are only a tourist based economy
MISCONCEPTIONS ABOUT MIAMI-DADE
BREAKING THE MYTHS ABOUT MIAMI-DADE
• The average age is 37
• Forbes magazine ranked Miami as first in its list of America’s cleanest cities.
• A new performing arts center provides world-class entertainment
• The Miami international airport expansion – supporting over 80 airlines, flying to over 150 destinations
• Port of Miami competes with ports around the world and is among the top container ports in the United States. Also Cruise Capital of the World
• Premium education – home to the University of Miami, Florida International University, St. Thomas University, Barry University, Kellogg School of Management and Miami-Dade College
• Home to the award winning Leonard M. Miller School of Medicine at the University of Miami, as well as the recently inaugurated Medical School at Florida International University
• Global business center (over 1,000 multinationals)
• We are multicultural and multilingual
South Florida MSA• The South Florida Metropolitan Statistical Area (Miami-
Dade, Broward and Palm Beach Counties) represents 30 percent of Florida’s total population.
• The average age is approximately 37 years and 60 percent of the population is between 18 and 65 years, the working age population.
• 7th Largest MSA in the US (5,513,060 in Miami-Dade, Broward and Palm Beach).
South FloridaPopulation Growth 2000 – 2010 – 2015
County
Year
2000 2010 2015
Miami - Dade 2,253,362 2,463,726 2,521,289
Broward 1,623,018 1,754,788 1,748,460
Palm Beach 1,131,184 1,294,546 1,318,909
South Florida Total
5,007,564 5,513,060 5,588,658
South FloridaRacial & Ethnic Breakdown in South Florida, 2010
Miami-Dade County Broward County Palm Beach County
White Alone 71.4% 63.5% 74.0%
Black Alone 17.7% 24.3% 15.6%
American Indian Alone 0.3% 0.4% 0.4%
Asian Alone 1.4% 3.0% 2.2%
Some Other Race Alone 5.1% 4.4% 4.5%
Two or More Races 4.0% 4.3% 3.2%
Hispanic Origin (Any Race)
64.3% 25.8% 19.2%
South Florida Miami-Dade – Fort Lauderdale – West Palm Beach Payroll Employment, Annual 2008, 2009 and 2010
County 2008 2009 2010
Miami-Dade 1,048.6 1,014.8 980.6
Broward 771.8 742.6 702.9
Palm Beach 545.2 524.2 499.8
Total 2,365.6 2,281.6 2,183.2
Florida 7,763.8 7,401.9 7,174.9
(in thousands)
Miami-Dade County’s Unemployment Rate
11.3%
12.3%12.8%
13.2%
14.4%
13.1% 13.1% 13.0% 13.2%
12.00%
8.1%7.8%
10.5%
7.5%
9.6%
11.5% 11.6% 11.3% 11.8%11.7%11.3%
6.8%
12.0%11.2%10.9%
12.30%11.80%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
2009
2010
2011
Jobs Created or Lost in 2009 – 2010 in Miami-Dade County
11,9009,400
6,000
3,2004,900
-11,200-9,9002,100
-24,400 -20,600 -31,200 -26,200 -13,200-21,500 -300 -1,4001,900
-51,000
-46,000
-41,000
-36,000
-31,000
-26,000
-21,000
-16,000
-11,000
-6,000
-1,000
4,000
9,000
14,000
Miami-Dade County's Unemployment Rate(1996 – 2009)
7.3% 7.1%6.4%
5.8%5.3%
6.9%7.8%
7.2%
5.6%
4.3%3.8% 3.8%
5.3%
10.7%
12.40%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
NONAGRICULTURAL EMPLOYMENT IN MIAMI-DADE COUNTY
Industry Title March 2011
Total Nonagricultural Employment 994,300 100.00%
Trade, Transportation, and Utilities 249,200 25.06%
Wholesale Trade 67,900 6.83%
Retail Trade 122,000 12.27%
Transportation, Warehousing, and Utilities 59,300 5.96%
Education and Health Services 162,500 16.34%
Total Government 152,800 15.37%
Professional and Business Services 131,500 13.23%
Leisure and Hospitality 110,700 11.13%
Financial Activities 64,100 6.45%
Other Services 39,900 4.01%
Manufacturing 34,700 3.49%
Construction 31,300 3.15%
Information 17,300 1.74%
2010 Trade
2010 Total Trade : $95.4 Billion
2010 Export Trade : $58.8 Billion
2010 Import Trade : $36.6 Billion
Surplus : $22.2 Billion
Merchandise Trade through the Miami Customs District
Merchandise Trade through the Miami Customs District
1.Brazil 6. Costa Rica
2.Colombia 7. Dominican Republic
3.Switzerland 8. Honduras
4.China 9. Chile
5.Venezuela 10. Mexico
Top Trading Partners in 2010
MIAMI RANKINGS
Rankings by fDi Magazine:
• # 2 – Major City for Best Business Friendliness
• # 3 – Major City for Best Foreign Direct Investment (FDI) Strategy
• # 10 – Major City for Infrastructure
• # 9 – North American Major City of the Future
AmericaEconomia
Since 2001, through survey conducted among Latin American business leaders:
• Miami Ranked as top (#1 or #2) City for Doing Business in Latin America.
• Only City outside Latin America listed in these rankings.
One Community One Goal Update
Research, Planning, Marketing… for a better tomorrow.
Alexandra Villoch, Co-ChairAdolfo Henriques, Co-Chair
One Community One Goal:A Targeted Industry Initiative for Miami-Dade County
Aviation
Visitor
Life Sciences
Fashion-Lifestyle
Film & Entertainment
IT / Telecom
International Commerce
Financial ServicesEDUCATION
Education as the Foundation for Targeted Industry Strategies
Research, Planning, Marketing… for a better tomorrow.
One Community One Goal:A Targeted Industry Initiative for Miami-Dade County
Managed by the Beacon Council Economic Development Foundation
in Partnership with…
• Miami-Dade County • The Beacon Council • Education and Training Community • Greater Miami Convention & Visitors Bureau • Coalition of Chambers• Greater Miami Chamber of Commerce• South Florida Workforce • State of Florida, Enterprise Florida, Florida Chamber Foundation
Research, Planning, Marketing… for a better tomorrow.
One Community One Goal:Fundraising and Timeframe
January – April 2011 OCOG Funding Identification
January – February 2011 RFP, Proposal Review and Consultant Selection
April 1, 2011 OCOG Consultant Contract and Study Start
April - August 2011Analysis, Data Collection, Surveys, Education Inventory, Interviews
June 3, 2011Presentation and Session at GMCC Goals Conference
June – October 2011Target Industry Identification Input and consensus on findings
July - August 2011 SWOT Session and Education Assets
September 2011 Final SWOT Report and Targeted Industry Groups
October – November 2011 Target Industry Profiles Report
February – March 2012 Final Report and Roll Out Event
Research, Planning, Marketing… for a better tomorrow.
March 1, 2012 – 2013 Partners Identification of Resources and Implementation of Strategies
May 4, 2011
Key features:
• The only international combined commercial/defense aerospace show in The United States and the largest in The Americas
• Enhanced access to the growing aviation industry in South and Central America and the Caribbean
• Provide companies a cost-effective alternative to exhibiting at other shows
• Will serve as a home venue to showcase and sell American commercial and military aerospace equipment to the world
• Direct economic impact on South Florida, creating new jobs, attracting new investments and solidifying our community as an aviation and aerospace leader
• Further developing Florida's Aviation/Aerospace industry cluster that will provide stability, prosperity, and global competitiveness for the region Offer premiere exhibition opportunity to further their position as the leader in aerospace in the Americas
Miami International Aerospace Show
Top Commercial Air Shows• There is no international commercial aerospace
show in The United States.
– Paris Air Show, Le Bourget France, biennial, June (odd years)– Farnborough Air Show, London England, biennial, July (even years)– Singapore, Air Show, Changi Airport, biennial, February (even years)– Dubai Air Show, U.A.E., biennial, November (odd years)
Miami International Aerospace Show• October 31 – November 4, 2012 (biennial) • Homestead, Florida
• 3 day commercial event• 2 day public display
• (Wings Over Homestead)
• 75,000 trade attendees• 200,000+ public attendees• 800+ exhibitors
• 100+ chalets / 5+ pavilions• 100 aircraft display • 50 aircraft aerobatic display• 50 official foreign delegations• 500 Journalists• Educational Symposium