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MICHAEL A. FINNEY, PRESIDENT & CEO, MIAMI-DADE BEACON COUNCIL - INTERVIEW
The Miami‐Dade Beacon Council is the official economic development organization for Miami Dade County. Its mission is to increase jobs and investment through marketing Miami as a world‐class business destination, help grow local companies, and shape Miami‐Dade’s economic future. Since 1985, the non‐profit public‐private partnership has assisted more than 1,200 businesses to expand in or relocate to Miami‐Dade, creating almost 74,000 direct jobs and driving more than $6.7 billion in new capital investments.
As President and Chief Executive Officer, Mr. Finney champions the County’s efforts to market Miami‐Dade as a world‐class business destination. He collaborates with key stakeholders including Miami‐Dade County and other local governments, CareerSource South Florida, the Greater Miami Convention and Visitors Bureau, the Miami‐Dade Council of Chambers and key private sector leaders throughout the community.
We talk to Mr. Finney about Miami-Dade's unique invitation to the global business community.
"When you factor in our global connectivity, pro-business climate, low taxes and exceptional quality of life, Miami-Dade is a natural choice for start-ups, mid-market companies and Fortune 500 leaders across industries."
Why is Miami-Dade unique?
Miami is a dynamic community recognized world-wide for its energy, connectivity, cultural flair and lifestyle, but what really sets us apart is our people. Entrepreneurial, diverse, creative, and resilient, the people here are committed to building a better place for themselves and each other. That not only translates into a strong workforce and talent pipeline, but it also fosters the kind of innovation that allows businesses to really thrive. When you factor in our global connectivity, pro-business climate, low taxes and exceptional quality of life, Miami-Dade is a natural choice for start-ups, mid-market companies and Fortune 500 leaders across industries.
Please share with us Miami-Dade Beacon Council's vision for the future.
We see fairly strong growth in major sectors including banking and finance, aviation and aerospace, healthcare, and trade and logistics, with technology as the strongest thread driving innovation across all of these key industries. The innovation we see here in fintech, cybersecurity, healthtech, tourism, and blockchain – impacting logistics, cold chain, cryptocurrency and so much more – will influence business globally. There is also a significant commitment to driving sustainable growth that is inclusive and equitable, which is essential for diverse communities like Miami-Dade.
"We provide a single point of contact that provides customized, confidential assistance on every step of the economic development process from site location and property search to talent recruitment and training."
Please give us an idea about the types of support available to companies coming to Miami-Dade?
As the official economic development organization for Miami-Dade County, The Beacon Council partners with companies looking to expand or relocate to the area. We provide a single point of contact that provides customized, confidential assistance on every step of the economic development process from site location and property search to talent recruitment and training. Our research department provides in-depth market data, comparative analysis of economic indicators, and other customized reports to help inform a company’s decisions. Countywide partnerships allow us to facilitate valuable introductions and collaboration to key individuals, companies, organizations and programs. We also help companies understand the landscape of financial support available to businesses, determining eligibility for local and state business incentives related to job creation and workforce training and partnering with qualified companies to navigate the application and approval process. All of our services are confidential and at no cost to the companies.
Miami-Dade is benefiting from landmark investments to adrenalize growth and prosperity. Please share with us some of these and what they mean for residents and businesses.
During the past year alone, The Beacon Council secured commitments from 32 companies choosing to relocate or expand in Miami-Dade County. These companies, representing diverse industries and international markets, have committed to almost 5,000 new high-value jobs and more than $229 million in new capital investments. With average salaries of more than $120,000, these jobs go on to generate more than 8,500 indirect jobs. This translates into more than 13,500 new jobs and $781 million in disposable income for these employees. In addition to paying for housing, insurance and other basic expenditures, these households will now have more money to spend on entertainment, restaurants, and other activities. New graduates can find their first job in Miami, and those already working here can take their next step professionally. Most importantly, these commitments translate into an annual economic impact of $926 million for Miami-Dade County, which funds continued infrastructure growth, education and more.
Share with us some insight into the availability of business location sites in Miami- Dade?
Miami-Dade offers a diverse range of communities for business location and lifestyle choices – from coastal communities with pristine beaches to urban centers bustling with office workers, coffee shops and local breweries. From suburbs filled with ballparks, retail centers and office parks to industrial cities with hardened infrastructure and transit options. Highly connected with some of the busiest ports and airports in the world, Miami-Dade has properties that allow for seamless transportation including a thriving Free Trade Zone. As the “workplace” continues to evolve, the diversity of our commercial and retail offerings allows companies large and small to find the right environment for their growing business.
"Miami is the gateway to the world. Our geographic location, global connectivity and educated, multilingual, diverse workforce make Miami a perfect fit for international companies looking to grow."
What is your message to international companies?
Miami is the gateway to the world. Our geographic location, global connectivity and educated, multilingual, diverse workforce make Miami a perfect fit for international companies looking to grow. Companies from throughout the US, Europe, Asia, Australia and Africa have regional or global headquarters in Miami to penetrate American markets – both North and South America.
Miami’s internationally focused business community and professional services corps along with the 100 plus consulates, trade offices and binational chambers of commerce, and top-ranked port and airport make international commerce and trade easy to navigate and prosper. Long known as the Gateway to Latin America, Miami is also a platform for Latin American businesses to enter other markets. We have a deep bench of international expertise, including the second largest international banking center on the east coast after New York. Most importantly, Miami is international at its core, a city built by immigrants that is open, inclusive, and appreciates its role as a global destination.
READ: MIAMI-DADE - WORLD BIZ MAGAZINE'S BEST REGION IN NORTH AMERICA FOR INVESTMENT 2021-2022
Miami-Dade Beacon Council
The Miami-Dade Beacon Council, a public-private partnership, is the official economic development organization for Miami-Dade County. Led by a professional staff and Board of volunteer community leaders, the organization facilitates business growth and expansion locally, nationally and internationally. The Council was founded in 1985 as an outgrowth of the Greater Miami Chamber of Commerce to focus on business recruitment, expansion and retention.
