Southeast Florida

Florida’s Southeast is the state’s most populated region. And with its wealth of business advantages, the challenge for companies considering relocation to any of these seven coastal counties is less about finding right sites for expansion than it is about choosing just one.

It’s no wonder that firms in such high-impact industry sectors as aviation, life sciences and technology have chosen to “cluster” here. Miami, ranked No. 9 by fDi Intelligence magazine on its list of “North American Cities of the Future 2015/16,” is home to more than 100 foreign consulates, trade offices and bi-national chambers of commerce. In Southeast Florida, where five deep water ports and four international airports are channels for worldwide tourism and trade, globally minded firms enjoy ready access to the lucrative Latin American market, and are well-positioned to prosper as the U.S. re-establishes diplomatic relations with Cuba.

Here, too, tourism remains a significant economic driver. From Indian River County to the Florida Keys, new hotels are taking shape, visitor numbers are up and communities stand ready to welcome tourists as eagerly as CEOs sinking permanent roots.

WHO LIVES HERE

Heavily Hispanic In Miami-Dade County alone, 51% of the population is foreign-born, and at 32% and 23% respectively, the populations of contiguous Broward and Palm Beach counties aren’t far behind. Latinos are the most prevalent immigrant group here, averaging 25% of the population region-wide with Miami-Dade, at 66%, the runaway leader among all seven Southeast Florida counties for concentration of Hispanics.

Widely known For the 6th consecutive year, Florida is the No. 1 U.S. destination for international home buyers, and two Southeast Florida cities — Miami and Fort Lauderdale — are among the top 10 most searched by international consumers on Realtor.com.

Young and smart Once populated largely by retirees, South Florida today is a favorite among millennials. According to the consumer website NerdWallet, millennial populations in Miami and Fort Lauderdale have increased by 23% and 21% respectively in recent years, and these younger adults bring their aptitude for technology along. A report from commercial real estate and investment firm CBRE ranks Miami and Fort Lauderdale among the top 50 U.S. cities for tech talent.

Small business friendly Southeast Florida is both an innovation hub and a place where small businesses thrive. In the “2015 Kauffman Index: Startup Activity,” the Miami-Fort Lauderdale metropolitan area ranks No. 2 for startup density and the rate of entrepreneurs launching new businesses. And on Biz2Credit’s “Best Small Business Cities in America Study,” Miami-Fort Lauderdale is 7th based on factors such as average credit score, annual revenue, cost of doing business and tax rate.

Tags: Business Florida