What Does an Economic Development Administration Near Cutler Bay Do?

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The goal of the Economic Development Council is to make life better for the residents of South Miami-Dade where beautiful Cutler Bay is located. A top priority for the administration is to expand businesses and create jobs through the support of projects that are sustainable and resilient. Read on to see more about how an economic development administration near Cutler Bay fosters economic development through improvements to infrastructure, education, and the workforce. 

Here’s How Our Economic Development Council Began

After Hurricane Andrew struck Florida in 1992, the damage was the worst a hurricane had ever caused up to that point. In order to ensure that this region recovered from the devastation, the Economic Development Council of South Miami-Dade was created. The goal is to support and grow our municipalities, our agriculture industry, our tourism industry, as well as to support the residents and businesses here.

The Economic Development Council of South Miami-Dade is funded through support of local businesses.  Working as one collective voice, the council works to improve the community through projects that are sustainable and resilient. The council works to create a strong and skilled workforce, ensuring that South Miami-Dade including Cutler Bay is a place people want to live, work, and play for years to come.

Our Economic Development Administration Near Cutler Bay Helps Support the Following Industries

  • Aviation: The area is host to one of the world’s busiest airports.
  • Construction: The limestone industry here alone supports millions in revenue and over 14,000 jobs.
  • Hospitality and Tourism: The area stretching from Miami to the Keys is a top tourist destination.
  • Life Sciences and Healthcare: Healthcare is a leading employment industry.
  • Manufacturing: This job industry has been steadily growing for over 60 years in our area.
  • Retail: People from around the world come here to shop.
  • Technology: This is a a rapidly growing industry, as tech startups continually incorporate in South Miami-Dade.
  • Trade and Logistics: Our two local trade ports make this location ideal.

Our mission is to ensure the residents of this area have the best work-life balance to create a thriving community. Contact us today to learn more about how we’re ensuring South Miami-Dade is a great place to live, work, and play!

 

The Economic Development of Homestead, Florida: A Comprehensive Guide, Part 2 of 2

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If you haven’t already read part one of this two-part guide on the economic development of Homestead, Florida, check it out here!

The Importance of Small Businesses in Homestead

Small businesses are a major contributor to the economy of Homestead and the surrounding area. Small businesses provide jobs and other essential services to the community, and they help to create an overall sense of economic stability. According to the US Small Business Administration, small businesses are responsible for creating two out of every three jobs in the city, and they account for more than 60% of all new hires in the past three years. Economic development in Homestead, Florida has a long history of supporting small businesses.

The Florida Small Business Development Center provides resources, such as loan and leasing programs, to businesses seeking to start or expand in areas like Homestead. The office also offers free business counseling and workshops to help local business owners put their ideas into action.

The Homestead Business Community

The Homestead business community is made up of a diverse range of companies, from small independent businesses to large corporate operations. Major employers in the city include Florida Power and Light, Homestead Hospital, Wal-Mart, and Home Depot. The city is also home to a plethora of successful small business owners, ranging from small independent businesses to larger corporations.

The Future of Homestead’s Economy

The economic outlook in Homestead, Florida is bright. The city’s geographic location, near the Everglades and the Florida keys, has made it a popular destination for eco-tourism and retirees, which has led to significant economic growth in recent years.

Additionally, the city is actively encouraging economic development with a number of strategic initiatives designed to attract new businesses and create jobs. These include tax incentives, small business development initiatives, and investments in infrastructure. With these efforts, the city of Homestead looks to continue its economic growth into the future.

Homestead, Florida is an up-and-coming city with a rich history of economic development. The city’s location, near Miami and the Florida Keys, has made it a popular destination for tourists and retirees, driving significant growth in its tourism and real estate industries. Moreover, the city has also attracted a number of new businesses and industries, from large corporate operations to small independent businesses. The city of Homestead is actively encouraging economic development through a number of initiatives, and the future looks bright for the city’s economy.

Want to Learn More About Economic Development of Homestead, Florida?

Contact the Economic Development Council of South Miami-Dade today to learn more about business incentives, economic planning, why you should live and work in Homestead, and why it’s a great place to visit!

The Economic Development of Homestead, Florida: A Comprehensive Guide, Part 1 of 2

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Located in the southern tip of Florida outside of Miami, Homestead is a small city with a population of just over 60,000. The city has a rich history dating back to the early 1800s, when it was founded as a farming community. In recent years, Homestead has experienced a surge in population and economic growth. This comprehensive two-part guide will take you through the economic development of Homestead, Florida – from its early days as a farming community to its present-day status as a growing city.

A Brief History of Homestead

Just a short drive from Miami, the location has made it a popular destination for tourists and retirees. Moreover, Homestead’s proximity to the Everglades and the Florida Keys has also made it a popular destination for eco-tourism. Homestead, Florida was founded in 1881 as a farming community by Civil War veterans and grew rapidly in the ensuing years.

In 1926, the city was incorporated, and by 1970, the population had grown to 10,000. The city’s population continued to grow exponentially into the 2000s, and by 2020, had reached over 60,000 people.

The Economic Development of Homestead, Florida

Homestead has a long, diverse history of economic development. Since the early 1900s, it has been home to several major companies and industries including a fertilizer factory, a brickyard, and a glass factory. In recent years, the city has also attracted a number of new businesses and industries, such as apartment buildings, shopping centers, and even a movie theater.

The city of Homestead has seen significant economic growth in recent years, largely due to its location near Miami and its proximity to the Everglades and the Florida Keys. Tourism and retirement communities have been the primary drivers of economic development in Homestead, but the city has also seen significant growth in the retail and construction industries.

One of the most important economic development projects in the city is the Homestead Air Reserve Park, which was established in 1989 to provide an airshow and aerospace educational facility. The park has helped to attract both local and international visitors and has also triggered new economic development ventures in the city. Additionally, the park has also been instrumental in attracting new businesses, such as aerospace and aviation-related companies to the city.

Check out the next part of this two-part series here!

How Does the Economic Development Council of South Miami-Dade in the Village of Palmetto Bay Help the Economy?

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Economic development in any place helps the economy by boosting employment rates, bringing in new jobs, and retaining jobs that are already there. There is no doubt that economic development plays a key role in the success of a community. But just how does the Economic Development Council of South Miami-Dade in the Village of Palmetto Bay help the economy?

Who We Are

Founded after Hurricane Andrew in 1992, the EDC of South Miami-Dade was intended to help the southernmost region of the county. To this day, we strive to create economic growth by retaining and expanding the businesses throughout our communities. WIth 600,000 residents and 20,000 businesses, it is important to have a unified group of people who can keep your best interests in mind. Not only do we aim to retain and expand current businesses, we also want to bring in new infrastructure and create job opportunities not previously available.

Our Goals

Our ultimate goal is to make sure that everyone in the community, from tourism to agriculture, is thriving. When bringing in new jobs, we want to make sure that our workforce is properly educated and trained, so we want to attract top educators. We also want to ensure that the businesses that come in are going to benefit the people who live here. We create smart infrastructure plans to ensure that people can safely and effectively make it to their workplace without wasting time because of poor traffic flow.

We want to retain the businesses that are already here and do so by offering incentives to businesses, new and old, to help them expand. By doing this, the Economic Development Council of South Miami-Dade in the Village of Palmetto Bay helps the economy. More business means more jobs, which means more revenue, which means more developments can be created. 

 

To Learn More About the Economic Development Council of South Miami-Dade in the Village of Palmetto Bay, Contact Us Today!

Contact us today at 305-378-9470 for answers to any questions you may have about how the Economic Development Council of South Miami-Dade helps with economic growth in our area! We look forward to hearing from you.



Business Incentives for Economic Development in the Village of Pinecrest

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Municipalities often offer businesses incentives to condition the local business community and attract outside investment. This helps to maintain a healthy economy that fills the tax base, as well as to support municipal operating costs, public services, and public schools. Economic development in the village of Pinecrest is feasible in part due to the business opportunities that are currently available. The modern way to attract outside investors is to provide economic development opportunities to local business owners. Here are just a few of the many business incentives for economic development in the Village of Pinecrest.

1. Captive Insurance and Captive Reinsurance Domicile Laws

Captive Insurance and Captive Reinsurance laws protect local financial institutions, banks, and insurance companies from the risk associated with business entities outside the state. The laws also protect local financial institutions from competition if the business entities are domiciled outside the state. They also provide entities the opportunity to group their risks into one entity. This can be beneficial to businesses because it lowers the cost of insurance.

2. High-Impact Performance Incentive (HIPI) Grant Program

The State of Florida offers grants to attract investment that provide a high level of employment, economic impact, and cumulative value to a community. While the HIPI program is not unrestricted, it offers municipalities a reduction in sales tax and property tax to attract businesses that provide better employment opportunities and ultimately contribute more to the municipality’s tax base.

3. Brownfield Redevelopment Bonus Tax Refund Program

This grant program gives an incentive to business owners who want to invest in a brownfield property that has been abandoned or is underutilized. It provides financial incentives to businesses to encourage redevelopment of the site, which will contribute to the municipality’s tax base. To qualify for this refund for economic development in the village of Pinecrest, you must create at least 10 new jobs and invest a minimum of $2 million.

4. Florida Power and Light Economic Development Incentive Program

The state offers financial incentives to business owners who purchase energy-efficient equipment. It also provides funding to community organizations that supply educational programs that encourage energy efficiency. The incentives help promote the use of renewable energy, which can be beneficial in a village with a high percentage of ecologically and environmentally conscious residents.

For More Information on Economic Development in the Village of Pinecrest, Turn to EDC South Miami-Dade!

The State of Florida provides a variety of incentives to business owners to provide financial assistance to ensure that the local business community thrives. It encourages businesses to invest in the local economy, maintain and expand their operations, and provide more significant employment opportunities. Contact us today for more information about economic development in the village of Pinecrest.

How Targeted Economic Growth in Miami Can Improve South Miami-Dade

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Navigating the world of economics and how it can improve your county can be tricky, but it’s a necessity. What is targeted economic growth in Miami, and how can it benefit our area? Here’s what you need to know.

What Is Targeted Economic Growth in Miami Exactly?

Targeted economic growth refers to the growth that a city aims to see each year. It considers both planned and actual economic growth. Essentially, it’s how much a city expects to see in growth and how they budget for the following year.

Many factors affect the outcomes of this targeted growth. This includes the size of a location and the population, the amount of domestic product produced and how diverse the products are, whether your city is well connected for ease of transportation of these goods, and other key indicators.

Policies and outside changes affect this as well. For example, if one industry experiences a collapse or a reduced demand, it affects the entire industry as a whole.

How Can It Improve Economic Growth in Miami?

It’s important to meet these goals in order to prevent an economy from becoming stagnant or, worse, regressing. Why? It helps to meet the demands of a city and its population, maintain infrastructure, and even build new infrastructure to keep up with a growing population.

When economic growth is low and targets aren’t met, it can be devastating. Not only will it be difficult or impossible to maintain infrastructure and a budget for a city to survive, but these aspects can start to decay.

That being said, when it’s met and surpassed, a city is given the opportunity to flourish and keep its people as well as its infrastructure, businesses, and other elements happy, maintained, and growing. This is why it’s important to get involved, make a plan for growth, and ensure that there’s contribution.

Join Our Newsletter to Keep Up With Economic Development, Growth, and More!

The Economic Development Council of South Miami-Dade is committed to our strategic economic development plan, ensuring targeted economic growth in Miami and helping our community to not just survive, but thrive and become better each year! Contact us today to learn more!

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!

How Does Remote Work in Miami / South Miami-Dade Impact Economic Development?

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During the pandemic, working from home became the norm for Americans. As pandemic restrictions relaxed and people had the option to return to work, we discovered what was thought to be a phase is now becoming the norm for many industries. How does remote work in Miami / South Miami-Dade impact economic development? Good or bad, it looks like remote work is here to stay. 

Remote Work in Miami / South Miami-Dade Has Shown an Increase in Productivity

People are coming together to collaborate in a more relaxed environment, and with technology ever-evolving, productivity is at an all-time high for many companies. With remote work, there seems to be higher meeting attendance, more attention from managers, and simplicity in communication that doesn’t always exist in a corporate environment.

The Ability to Relocate Is Easier

Remote work gives employees the freedom to relocate. In fact, the population in South Miami-Dade will likely reach around 3 million residents in 2025. That will be quite a boon for the housing market from remote workers moving to the area!

Remote Work Adds to the Labor Supply

Remote work now isn’t the same as remote work during the pandemic. Before, it was absolutely necessary to work from home for a brief period of time. Now, there is flexibility. Work from home two days a week, then work at the office three days. Work at night, or work from 9 to 5. You can create your own schedule, which many people love.

Flexible remote work also allows for employee expansion. It makes it easier for families with children, those with disabilities, or those close to retirement age to have the opportunity to work when maybe they didn’t before, and companies are seeking these people out.

To Discover More About the Economic Impact of Remote Work in Miami / South Miami-Dade, Contact the Economic Development Council of South Miami-Dade

The members of the EDC share a vision: to improve and advance the quality of life of all our residents and business. This means supporting innovative workforce solutions. If you’d like to learn more about remote work in South Miami-Dade and the most prominent industries in our area, please contact us today!

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!

How Are Infrastructure and Economic Growth Related?

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A strategic economic development plan is a must for economic growth, but how do factors like infrastructure come into play? Here’s a fast and easy briefing on infrastructure and economic growth, plus how the two go hand in hand!

What Is Infrastructure?

Infrastructure is defined as the physical structures and systems of a business, nation, or region that typically allows access to public goods and services. Infrastructure looks like roads, subways, airports, bridges, trains, railways, and similar structures. The goal is to serve your community and city by allowing it to properly function.

What Is Economic Growth?

Economic growth relates to the increased production of goods, services, and structures. This growth aims to increase and improve in an inflation-adjusted market, allowing citizens to thrive.

Factors that increase and contribute to economic growth include but are not limited to capital goods, labor force, and technologies. Ideally, the growth should be sustainable, which is done by spreading this growth and its rewards fairly to multiple groups and communities.

How Are the Two Related?

As mentioned previously, infrastructure allows movement. It is essential for economic growth. By incorporating infrastructure to an economic development plan, economic growth can be seen sooner and will be more sustainable.

Additionally, infrastructure can contribute to an economy and thus the community by increasing the mobility of workers and products, increase competitiveness in the market, reducing the overall cost of delivered goods, and even removing constraints of productivity.

All of these factors are a huge perk for concerns like economic growth and development, especially within small communities. It can also help to benefit important things like internet availability, job security, expanded road networks for easier, safer travel, improved electrical quality, and so much more.

Learn More About Infrastructure and Economic Growth in South Miami-Dade With Our Ample Resources!

Whether you’re new to subjects like infrastructure and economic growth or you’ve been keeping up with the latest information, the Economic Development Council of South Miami-Dade is here to help with our continuous education and easily accessible resources. Contact us today to learn more about important issues and find out how you can join our newsletter!