4 Facts You Need to Know About Living in the City of Homestead, Florida

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Whether you already call Homestead your home or you’re new to living in this one-of-a-kind city, there’s a lot to discover about the area you live in. Here are four fun facts about living in Homestead, Florida that prove why it’s one of the best cities in South Miami-Dade!

1. Homestead Is Home to the Cybrarium

The Cybrarium is a unique and innovative library that you can’t find anywhere else, and it happens to be located in Homestead! This high-tech library takes the traditional methods of learning and adds a fun new twist, offering a digital library, 3-D printing, virtual reality experiences, and so much more.

The Cybrarium is perfect for adults and kids of all ages, providing easily accessible resources tailored to yours and your child’s interests.

2. It’s the Second Oldest City in Miami-Dade County

Founded in 1913, Homestead is a city rich in history. This great city was once a path called the “Homesteaders Trail,” giving hard-working farmers a way to transport goods like fruits and vegetables to the South Dade area.

Many of these farmers and workers stayed behind, however, thus Homestead was founded. The CIty of Homestead maintains designated Historic Districts to learn more about its history and culture.

3. There Are Plenty of Attractions to Enjoy

A common problem people run into is feeling bored in the city they live in, believing they’ve seen all there is to see. This is far from the truth in Homestead.

Homestead offers plenty of attractions and parks to enjoy, including several farms, dozens of parks (even a few national parks), and more. Yes, there’s even an alligator farm where you can admire these animals and even feed them. Welcome to Florida!

4. There Is a Wide Variety of Schools

Homestead is within the Miami-Dade school district, and there are private schools as well, so you can be sure your children can learn and develop. Additionally, this city is home to the Miami-Dade College Homestead Campus for older learners!

Learn More About Living in Homestead, Florida With the Economic Development Council of South Miami-Dade’s Newsletter!

There are endless benefits to living in Homestead, Florida, and this is just the tip of the iceberg! Learn more about this beautiful city today by calling us at 305-378-9470 or joining our up-to-date newsletter!

What Is a Creator Economy in South Miami Dade?

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It’s an interesting phrase, but what does it mean? Some believe that creator economy is the future. So, how will the creator economy in South Miami-Dade impact economic growth?

What Does “Creator Economy” Mean?

Have you heard of content creators? Maybe you’ve seen them on your favorite YouTube channel, Instagram, or TikTok. Those people are part of a rather large class of businesses that make up the creator economy. 

These individuals can be videographers, vloggers, and social media influencers. They are the “Creative Class” and their influence on the economy is bigger than you might realize. 

How Does the Creator Economy Impact Economic Growth?

The creator economy in South Miami-Dade and all over the world means more money. According to Forbes Magazine, there were approximately 80 million people who posted their content online. The revenue from this creativity? More than $100 billion.

So, what does all this mean for economic growth? There are some experts who predict social influence will be a replacement for a college degree, as a creator’s online business experience can make them eligible for high-paying corporate jobs.

As brick and mortar shopping shifts even more to online shopping, we’ll see an upswing in e-commerce. There is real, measurable potential in building online audiences for entertainment and business.

Lastly, existing businesses have an opportunity for enormous growth. Building an online community further expands advertising and engages more customers, therefore increasing overall profit.

Local government has a real opportunity to support the creator economy through public policy. Taking the time to identify and support creator economy filters into college courses, high-tech development, community outreach, and assistance to low-income content creators.

There is also the possibility of shared pools for health insurance, as well as the development of scholarship programs. The possibilities are endless!

Are You Interested in Learning More About the Creator Economy in South Miami-Dade? Contact the Economic Development Council!

If you’ve got a creative business idea or have started a business and need assistance, we’ve got resources! Contact the Economic Development Council of South Miami-Dade today to learn more!

What Barriers Do EDCs Such as the Economic Development Council of South Miami-Dade Often Face?

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Even with well-planned strategies, things don’t always go accordingly. There are challenges all local governments face, and the Economic Development Council of South Miami-Dade isn’t immune. Here are some of the top barriers all EDCs may face. 

Population Growth Rates

Population growth can be random, and depending on the circumstances, it can be negative. It can put a strain on existing resources and lead to difficulty in obtaining new resources. 

Lack of Human Resources

Education, agriculture, healthcare, and technology are just a few components that are needed to create a vital society, but not all communities have these in place. The Economic Development Council of South Miami-Dade places great value on its continuous improvement of available human resources. 

Unpopular Investment Destinations

Not all environments are attractive to potential investors or businesses, and economic development relies on investors. Weak economic projects lead to a decline in employment opportunities and a lack of support for a community. 

Lack of Transportation Services

Many residents of South Miami-Dade don’t realize the importance of a solid transportation network. Without it, industrial and economic competitiveness is negatively impacted. A good transportation network is needed to lower the cost of moving people and freight. 

Inability to Find Innovative Solutions

As an example, many societies are dependent on oil. When alternative means are examined and put in place, it reduces the overall oil bill. Innovative solutions to traditional means improve economies. Innovation leads to higher productivity and greater output of goods and services. 

Are You Interested in Learning More About the Economic Development Council of South Miami-Dade?

Since 1993, the EDC has worked diligently to improve and advance the quality of life for all residents and businesses of South Miami-Dade. Our key priorities include supporting business expansion, creating new jobs, and improving local infrastructure.

To stay up to date on the latest EDC news, you’re invited to subscribe to our newsletter. 

For questions about current measures to improve our economy, or if you are interested in learning more about what we do, please contact us today at 305-378-9470. We look forward to hearing from you!

What Is Economic Planning in Florida City, Miami?

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Learning about the economics in your city can be pretty confusing, but knowledge is power, especially when it comes to developing your community so it can flourish. What is economic planning in Florida City, Miami? Here’s what you need to know!

What Is Economic Planning in Florida City Miami? What Does It Do?

If you’re wondering what economic planning is exactly, you’re not the only one. Exploring the world of economics can be intimidating and confusing initially, however once you break it down, it becomes easier than ever to keep up with economic news and how it benefits your city.

Put simply, economic planning refers to a resource allocation model that uses an iteration process to obtain its solution. There are various forms of economic planning, meaning that many of them are used at once depending on the approach and specific procedures required.

Ultimately, economic planning intends to achieve faster growth within the community and its economy.

What Does Economic Planning Go Towards in My Community?

It’s only natural to want to know how these mechanisms benefit your community, especially when it comes to tricky, nuanced areas like economics. The truth is there are many ways economic planning helps communities like Florida City to grow and thrive. For example, economic planning is used to stabilize the economy. This, in turn, it stabilizes rents, wages, interest rates, and more.

Additionally, economic planning factors in businesses, both big and small, schools, healthcare, and neighborhoods, to name a few. With this planning, it makes it easier to allocate resources in a sustainable fashion that also encourages further growth, which means more resources to improve community satisfaction both long term and short term.

Have More Questions About Economic Planning? Let Us Help!

The Economic Development Council of South Miami-Dade is here to assist with questions like, “What is economic planning in Florida City, Miami?” Whether you’re looking to invest, partner with us, or simply learn more about the economics in your community, we’re here to help provide resources and education.

Contact us today to find out more about economic planning and how it affects you, plus find out how you can join our newsletter!

Is There an Economic Development Administration in Miami?

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The Economic Development Administration (EDA) plays a critical role in providing resources and assistance for economic development efforts across the entire nation. So, is there an Economic Development Administration in Miami? If so, how can they help you? Read on to learn more!

What Is the EDA?

The EDA is an agency in the United States Department of Commerce responsible for providing grants, technical assistance, and additional resources to economically challenged communities.

By doing this, the EDA’s goal is to promote commercial and industrial growth, as well as generate new employment and retain existing employment. This is achieved through multiple investment programs.

The Economic Development Administration offers and employs American rescue plans, funding opportunities, several programs, and even more resources to promote innovation, competitiveness, growth, and success both in America and, subsequently, worldwide.

Is There an Economic Development Administration in Miami? Who Are They?

The Economic Development Council of South Miami-Dade is proud to serve Florida residents and honor the Economic Development Administration’s mission. The EDC was established in 1993 after Hurricane Andrew, with the board members witnessing and empathizing with the needs of South-Miami Dade residents.

The EDC works hard to support the local economy, indiscriminately committed to their mission to boost economic success, assist in small business goals, and discover monetary incentives. The Economic Development Council of South Miami-Dade attracts, expands, and retains a diverse range of businesses, just as diverse as the people they improve the quality of lives of with higher wages, better jobs, and job retention.

While there may be other councils in South Florida that share a similar goal, The Economic Development Council of South Miami-Dade is proud to say they make big changes by focusing on small businesses and communities, ranging from retail to healthcare, in the South Miami-Dade area.

See We Can Help You at The Economic Development Council of South Miami-Dade!

When you ask, “Is there an Economic Development Administration in Miami,” the Economic Development Council of South Miami-Dade is happy to provide answers! Our commitment towards education, funding, and supplying resources to our communities never rests.

Contact us today to learn more about how we help both big and small with flourishing economic development to achieve a better community for all!

Describe Economic Development in the Village of Palmetto Bay

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Living in the Village of Palmetto Bay is a dream for most of its residents. With affordable housing, exceptional schools, and a low crime rate, it’s a perfect place to raise a family. Part of what makes this such an ideal location is economic development. Here, we describe economic development in the Village of Palmetto Bay, answering frequently asked questions. 

What Does Economic Development Mean? 

The meaning of economic development depends on who you ask, because it can mean different things to different people. The broad definition of economic development is anything done by a community that creates and fosters a healthy economy. 

Economic development involves a process that is supervised by a governing body. In the case of the Village of Palmetto Bay, there is a combination of community development with economic development so the area is overall a better place to live and work. 

Can You Describe Economic Development in the Village of Palmetto Bay?

Referred to as Community and Economic Development, this branch of government is comprised of the following departments: 

  • Building & Permits Division
  • Planning & Zoning
  • Code Compliance

How Do Those Divisions Play a Part in the Economic Development of the Village of Palmetto Bay? 

Essentially, these divisions each have a role in creating and supporting opportunity, economic investment, and community enrichment. The goal is to enhance the wealth and prosperity of businesses and residents in the Village of Palmetto Bay. 

How Can I Discover More About the Village of Palmetto Bay?

If you’re interested in learning more about law enforcement, employment, permits, and parks, you can visit the homepage of the Village of Palmetto Bay. Here is where you’ll find the latest news, as well as contact information for each government office. 

Where Should I Go If I Want to Learn More About Economic Development?

The Economic Development Council of South Miami-Dade was created in 1992 to help rebuild the economy and communities after the devastation of Hurricane Andrew and includes Palmetto Bay. Since that time, the EDC has constantly been driven to advance the quality of life for residents and expansion of businesses. 

If you’d like to learn more about what we do or have us further describe economic development in the Village of Palmetto Bay, contact us today!

Why Is an Economic Development Council in South Miami-Dade Important?

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In order for any community to survive, it must be free of barriers that hinder economic growth. It helps to have organizations such as the Economic Development Council in South Miami-Dade to clear the path and make it possible for residents and businesses to succeed.

What Are the Benefits of Having an Economic Development Council?

It all comes down to economic growth. A thriving economy means:

  • Higher incomes: Economic growth means the residents of South Miami-Dade can consume more goods and services while enjoying a quality standard of living.
  • Employment opportunities: Positive economic growth allows businesses the ability to create more job opportunities.
  • Public services: The South Miami-Dade Economic Development Council has been able to fund improvements in healthcare and education due to a positive economic growth.
  • Investments: Economic growth encourages firms to invest in the future economic growth of South Miami-Dade.
  • Economic development: Promoting economic development in South Miami-Dade means creating sustainable economic growth. This leads to continued improvement to standard of living and prosperity. 

The Economic Development Council in South Miami-Dade provides our community with choices. While some communities are restricted in their abilities and opportunities, ours is more diverse with sustainable companies and a workforce of residents who are hard-working, educated, skilled, and resilient.

How is the Economic Development Council Funded?

The EDC is funded strictly through businesses and organizations that have an interest in bolstering South Miami-Dade with various projects and initiatives. These endeavors fall in line with our vision for the community to, “Harness sustainability and resiliency through economic development, infrastructure improvements, education and skilled workforce.”

If You’d Like to Learn More About the Economic Development Council in South Miami-Dade, Give Us a Call!

Our residents and businesses are always our top priorities! We’d be happy to share more information with you about the EDC and what we do. To learn more, contact us today. 

To stay up to date on the South Miami-Dade EDC and our collaborations with Miami-Dade County Regulatory and Economic Resources Planning Division, Small Business Development Center, and other partners, we invite you to subscribe to our newsletter!

4 Reasons to Start a Company and Get Local Business Funding in Miami

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If you’re thinking about becoming a small business owner, there are a number of different programs available that can help you with local business funding in Miami so that you can get started. There are a variety of financial incentives to businesses that are either locating or expanding in the downtown area. These incentives, including grants, loans, and tax breaks. Here are four reasons to search for these resources available to you.

Here’s Why You Should Start a Company Through Local Business Funding in Miami

  1. The Miami Startup Scene Is Rapidly Growing and Attracting National Attention 

The city has been aggressively courting startups and has taken a number of steps to make it easier for them to do business, such as simplifying the permitting process.

  1. Miami Is Home to a Large Number of Successful Entrepreneurs and Business Leaders 

Miami is a very diverse and dynamic city, which has allowed entrepreneurs and business leaders to tap into a variety of markets to constantly innovate and evolve their businesses.

  1. Miami Has a Large Pool of Talented Individuals From Which to Draw

Miami is home to a number of colleges and universities, which provide a steady stream of qualified workers. The city’s location also makes it a convenient place to recruit workers from around the world.

  1. The Cost of Doing Business in Miami Is Relatively Low

There are no state or local income taxes in Florida for corporations, and the city has a pro-business environment. There are a large number of financial institutions and a strong economic infrastructure. Sales and property taxes are low compared to other areas too.

  1. The Weather Is Great

Why go anywhere else in the world when you get warm year-round weather here?! The tropical South Florida climate is what draws many people here to the Sunshine State.

If you’re excited about a new business venture, the Economic Development Council of South Miami-Dade is a good place to start. Contact us today to learn more about the resources available to you!

 

Economic Development Council of South Miami-Dade Glossary: Helpful Info to Learn More

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This is not an exhaustive list by any means, but here are common terms you may hear or read about from the Economic Development Council of South Miami-Dade.

Change: One of the nine key economic concepts, this relates to economic growth and is the numerical percentage value of all goods and services that a nation produces during a specific time period compared to a previous time period.

Choice: Also one of the nine key concepts, this represents the options a consumer has to choose from when it comes to goods, resources, and services. Choice is an indicator of economic well-being (see definition below.)

Costs and Benefits: This is a numerical value that represents how cost-effective an operation, procedure, product, program, or service is to help decision makers determine whether it is beneficial. This number is calculated through a cost-benefit analysis.

Economic Development: Activities, operations, policies, procedures, programs, services, and other processes that help improve the quality of living and well-being for a prosperous community. Economic development helps retain and increase jobs by incentivizing businesses and other means, as well as upgrade infrastructure, enhance public safety, and improve education.

Economic Well-Being: Another of the nine key concepts, this means that people in the community have their basic needs met, that there is a healthy distribution of income, and that there is an ability to access goods and services according to needs of the people within the community.

Efficiency: One of the nine key concepts, this is the optimization of resources and is achieved when waste is minimized (or altogether eliminated) in an economy by goods, services, and everything involved in their production being properly distributed.

Equity: Another of the nine key concepts, this is the concept of economic fairness and refers to taxation, income distribution, and opportunity.

Interdependence: One of the nine key concepts, this refers to the transactions amongst two or more businesses, communities, people, organizations, or other groups of goods and / or services to meet each others’ needs.

Scarcity: Another of the nine key concepts, scarcity is the central concept and is also known as paucity. In economics, it refers to the gap between available finite resources and the potential need for them. 

Sustainability: And the final of the nine key concepts, this is the practice of supporting economic growth in the long term without having a negative impact on cultural, environmental, and / or social well-being.

To learn more about economic development in our communities, please contact us today!

Our team at the Economic Development Council of South Miami-Dade would love to hear from you. We’re happy to answer your questions or address your comments and look forward to engaging with you!

What Is the Difference Between Economic Growth and Economic Development in Miami-Dade?

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You’ve likely heard the buzz words ‘economic growth’ in relation to inflation in the news. But, you’re not quite sure what is means and whether it’s the same as economic development. So, what exactly is the difference between economic growth and economic development in Miami-Dade? Here’s a quick overview.

What Is Economic Growth?

Economic growth is defined as an increase in economic goods and services production over a period of time. According to Investopedia, “In simplest terms, economic growth refers to an increase in aggregate production in an economy. Often, but not necessarily, aggregate gains in production correlate with increased average marginal productivity. That leads to an increase in incomes, inspiring consumers to open up their wallets and buy more, which means a higher material quality of life or standard of living.”

What Is Economic Development?

Economic development actually includes economic growth. Additionally, economic development also includes changes in areas such as living standards, improved healthcare, greater economic diversification, quality infrastructure, and improved educational standards. Generally, it is a way to understand elements of improved quality of life. 

The goal of looking at economic development is to gain a more comprehensive understanding of the quality of living in an area rather than just looking at numbers. Theoretically, an increase in economic growth should lead to improved economic development. However, that is not always the case. 

Several circumstances can lead to increased economic growth without economic development. Some of these circumstances include high amounts of military spending, poor city planning, corruption, and environmental problems that damage the quality of life. 

There are quite a few ways to measure economic development, including a human development index, or HDI. This HDI includes data on life expectancy, education, and income to quantify quality of life and wellbeing. 

To Learn More About Economic Growth and Development in Miami-Dade, Contact Us!

South Miami-Dade has experienced tremendous economic growth AND economic development and only continues to improve in both.This area has a lot to offer, and you can be part of it all. To learn more, contact us today!