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.