- The Miami-Dade Beacon Council announced that 51 companies are set to relocate or expand in the county.
- The commitments are expected to create 14,818 new jobs, contribute $54.2 million in annual revenue, and increase the Gross Regional Product by $1.5 billion each year.
- IT management company Kaseya is also expanding in downtown Miami, planning to hire over 3,000 new employees, which is the largest single-project technology job increase in the Council’s history.
The Miami-Dade Beacon Council, the economic development organization for Miami-Dade County, announced on Thursday commitments from 51 companies for relocation or expansion within the region.
The commitments are expected to create 14,818 new jobs and deliver $54.2 million in annual revenue to the county’s economy, according to data published by the Council. They are further projected to raise Miami-Dade’s Gross Regional Product (GRP) by $1.5 billion every year with newly created roles averaging $98,000 per year.
“Our partnership with The Beacon Council is critical to fostering job creation and attracting new business investment to Miami-Dade County, with newly created jobs resulting in a remarkable infusion of nearly $840 million into our economy, impacting over 5,000 residents and their families,” said Miami-Dade County Mayor Daniella Levine Cava.
Forty-seven percent of the committed companies are expanding in areas designated by the county as priority zones for development. International business also comprised a portion of the relocations, with half of the expansion projects stemming from foreign countries, particularly Spain, Chile, and Israel.
“This intentionally inclusive approach strengthens our commitment to an equitable and resilient economy, increasing access to prosperity more broadly and enhancing our competitive edge across the global stage,” said Rodrick T. Miller, President & CEO of the Council in a prepared statement.
IT management company Kaseya expanded its presence in downtown Miami, adding approximately 100,000 square feet of office space. The firm plans to hire more than 3,000 new employees, according to the Council, accounting for more than half of the total job commitments. The company’s commitment represents the largest single-project technology job influx in the Council’s 38-year history.
Earlier this year, Miami debuted at No. 24 on the Global Financial Centres Index, making it a city to watch in the global financial ecosystem. The city’s entry into the Index comes on the heels of its pandemic-driven rise as a major tech and finance hub.
Since March 2020, the city has drawn venture capitalists, private equity titans, and entrepreneurs away from traditional hubs like New York and California. Big players like Point72 Asset Management, Apollo Global Management, and Blackstone have set up operations, while Citadel CEO Ken Griffin moved his hedge fund and securities trading firm to Miami’s Brickell neighborhood.
Miami’s Global Financial Centres Index ranking made it Florida’s only city to make the worldwide list and was good enough to rank it 7th out of all North American cities.