The Beacon Council
Miami-Dade County’s Official Economic Development Partnership
South Florida Association for Financial Professionals
Jack Lowell
Chairman, The Beacon Council
Jaap Donath, Ph.D.
Vice President, Research & Strategic Planning
May 10, 2011
1
1
The Beacon Council
Mission Statement
The creation and retention of jobs and expansion
of businesses in Miami-Dade County.
Our public-private partnership will achieve this
mission by: • 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.
2
The Beacon Council
Legal Structure | (501c6) & (501c3)
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.
3
THE BEACON COUNCIL
Miami-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
4
MIAMI-DADE COUNTY
Industry Sector Focus
• Aviation
• International Commerce/Multinational Corporations
• Fashion-Lifestyle
• Information Technology/Telecommunications
• Life Sciences
• Film & Entertainment
• Financial Services
• Visitor Industry
5
International Geographic Target Markets
for Miami-Dade County
Top Three
Markets
Emerging
Markets
Other
Markets
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
6
Domestic Geographic Target Markets
for Miami-Dade County
• Metropolitan NY/NJ
• California
• Atlanta
• Dallas
• Chicago
7
MISCONCEPTIONS ABOUT
MIAMI-DADE
• 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
8
BREAKING THE MYTHS ABOUT
MIAMI-DADE
• The average age is 37
• Premium education – home to the
University of Miami, Florida
International University, St. Thomas
University, Barry University, Kellogg
School of Management and MiamiDade College
• Forbes magazine ranked Miami as
first in its list of America’s cleanest
cities.
• A new performing arts center
provides world-class entertainment
• 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
• The Miami international airport
expansion – supporting over 80
airlines, flying to over 150
destinations
• Global business center (over 1,000
multinationals)
• 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
• We are multicultural and multilingual
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South Florida MSA
• The South Florida Metropolitan Statistical Area (MiamiDade, 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).
10
South Florida
Population Growth 2000 – 2010 – 2015
Year
County
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
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South Florida
Racial & 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%
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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)
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Miami-Dade County’s Unemployment Rate
16.0%
14.4%
14.0%
12.00%
12.0%
10.9%
11.80%
11.2%
12.30%
12.0%
12.3%
11.3%
13.2%
11.6%
11.5%
13.1%
11.7%
11.3%
13.1%
13.2%
13.0%
11.8%
11.3%
10.5%
9.6%
10.0%
8.0%
12.8%
6.8%
7.5%
7.8%
8.1%
6.0%
4.0%
2.0%
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2010
2011
Jobs Created or Lost in 2009 – 2010 in Miami-Dade
County
14,000
9,000
4,000
11,900
9,400
6,000
4,900
-20,600
-24,400
-31,200
-21,500
-26,200
-13,200
-11,200
-9,900
2,100
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-300
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-6,000
Miami-Dade County's Unemployment Rate
(1996 – 2009)
14.0%
12.40%
12.0%
10.7%
10.0%
8.0%
7.3%
7.1%
7.8%
6.4%
6.0%
6.9%
5.8%
7.2%
5.6%
5.3%
5.3%
4.3%
4.0%
3.8%
3.8%
2.0%
16
20
10
20
09
20
08
20
07
20
06
20
05
20
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20
03
20
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20
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19
99
19
98
19
97
19
96
0.0%
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%
67,900
6.83%
122,000
12.27%
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%
Wholesale Trade
Retail Trade
Transportation, Warehousing, and Utilities
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Merchandise Trade through the Miami
Customs District
2010 Trade
2010 Total Trade
: $95.4 Billion
2010 Export Trade : $58.8 Billion
2010 Import Trade : $36.6 Billion
Surplus
: $22.2 Billion
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Merchandise Trade through the Miami
Customs District
Top Trading Partners in 2010
1. Brazil
2. Colombia
3. Switzerland
4. China
5. Venezuela
6. Costa Rica
7. Dominican Republic
8. Honduras
9. Chile
10. Mexico
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MIAMI RANKINGS
Rankings by fDi Magazine:
AmericaEconomia
• # 2 – Major City for Best Business
Friendliness
Since 2001, through survey conducted
among Latin American business leaders:
• # 3 – Major City for Best Foreign Direct
Investment (FDI) Strategy
• Miami Ranked as top (#1 or #2) City for
Doing Business in Latin America.
• # 10 – Major City for Infrastructure
• Only City outside Latin America listed in
these rankings.
• # 9 – North American Major City of the
Future
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One Community One Goal Update
Research, Planning, Marketing… for a better tomorrow.
Alexandra Villoch, Co-Chair
Adolfo Henriques, Co-Chair
One Community One Goal:
A Targeted Industry Initiative for Miami-Dade County
Visitor
Life
Sciences
Aviation
FashionLifestyle
Financial
Services
EDUCATION
International
Commerce
Film &
Entertainment
IT /
Telecom
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…
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•
•
•
•
•
•
•
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 2011
Analysis, Data Collection, Surveys, Education
Inventory, Interviews
June 3, 2011
Presentation and Session at GMCC Goals
Conference
June – October 2011
Target 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
March 1, 2012 – 2013
Partners Identification of Resources and
Implementation of Strategies
Research, Planning, Marketing… for a better tomorrow.
May 4, 2011
Miami International Aerospace Show
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
Top Commercial Air Shows
• There is no international commercial aerospace
show in The United States.
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–
–
–
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
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•
•
•
•
•
100+ chalets / 5+ pavilions
100 aircraft display
50 aircraft aerobatic display
50 official foreign delegations
500 Journalists
Educational Symposium