What Is Economic Planning in Miami?

Have you ever given thought to the growth in Miami? Have you wondered how it’s possible for tourism to boom and for families to thrive? Are you curious to know the answer to your question, “What is economic planning in Miami?”

Many residents don’t really know what the Economic Development Council does or even why it exists. If you live in Miami or are considering a business start-up here, this will provide you with the basics of economic planning and help you understand a bit more about what the EDC does. 

What Exactly Is Economic Planning

Economic planning is the act of making major economic decisions under the guidance of a specific authority. These decisions are based on existing and potential resources and how those apply to the needs of people.  

All economic planning has some basic yet essential features: 

  • Centralized planning authority
  • Survey of available resources
  • Aims and objectives
  • Series of targets on various productions such as agricultural and industrial
  • Proper allocation of a proposed outlay
  • A definite time limit for completion of a plan
  • Mutual consistency between production targets and sectors

Why Does South Miami-Dade Have an Economic Development Council?

Before we answer, “What is economic planning in Miami?” Let’s talk about how the Economic Development Council came to be. 

The Economic Development Council (EDC) in South Miami-Dade was put into place after the devastation of Hurricane Andrew. The goal was to reach the most southern areas of the county in an effort to improve and advance the quality of life for all residents and businesses. 

What Impact Does the EDC Planning Have? 

The EDC has a clear mission to support and advocate for residents as well as existing and new businesses. This means the implementation of projects that will sustain and boost the economic growth of South Miami-Dade. 

Our focus includes the creation of new jobs, improvements to transportation, education, and local infrastructure, with their priority being the ability of the community as a whole to succeed. 

Would You Like More Information Regarding, “What is Economic Planning in Miami?” Contact the Economic Development Council Today!

We have 20,000 businesses and 600,000 residents in South Miami-Dade, and this means a very bright future for our community! If you’d like to learn more about what we do or the new / existing projects we’re currently working on, please contact us today!