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December 15, 2017

Business Florida 2017 - The Regions

Standing tall

| 9/22/2016

Southeast

23% of southeast Florida’s population is foreign-born compared to 13% across the U.S., and 52% in Miami-Dade County alone. (U.S. Census Bureau)

At 26%, Latinos are this region’s most prevalent immigrant group. In Miami-Dade, Latinos make up 67% of the population. (U.S. Census Bureau)

Miami-Dade and Broward counties together ranked No. 2 among the nation’s largest metros for business startup activity in 2015; on average, 520 residents here become new entrepreneurs every month. (Kauffmann Index)

  • Population: 6,692,578
  • Labor Force: 3,326,031
  • Household EBI: $42,464
  • Universities/Colleges: 19
  • Commercial Airports: 4
  • Seaports: 5

Formerly best known for its sun, sand and surf, the seven-mile stretch of Atlantic coastline that is Miami Beach has become a premier business destination.

INDUSTRY SECTORS

Aviation/Aerospace/Defense

JUPITER CEL Aerospace has opened an office in Palm Beach County with plans to hire 28 new employees. Headquartered in Canada, CEL tests gas turbine engines for original equipment manufacturers, overhaul facilities, airlines and the military.

WEST PALM BEACH The U.S. Department of Defense has awarded Pratt & Whitney a contract valued at approximately $1.4 billion for production of the F135 propulsion systems used to power F-35 Lightning II fighter-jet aircraft.

MIRAMAR Lexington, Ky.-based 1st Choice Aerospace plans to add 40 Florida jobs. The company specializes in repairing pneumatics, crew seats and O2, fuel, cargo and waste systems for commercial, cargo and military aircraft.

MIAMI-DADE COUNTY LAN CARGO, an affiliate of Chile-based LATAM Airlines Group, opened its first maintenance hangar in the U.S. at Miami International Airport. Hauling 300,000 tons per year between Miami and South America, LATAM is the airport’s busiest airline group for cargo.

WELLINGTON KLX, a leading distributor of aerospace fasteners and consumables worldwide, has acquired the Missouri-based supply chain management firm Herndon Aerospace & Defense for a reported $210 million.

Key Players

HEICO Corporation | Hollywood
Piper Aircraft | Vero Beach
Pratt & Whitney | West Palm Beach
Sikorsky Aircraft | West Palm Beach

Pharma Certified In late 2015, Miami International became the first airport in the U.S. — and second in the world — to gain certification by the International Air Transport Association (IATA) for the handling of pharmaceutical products. Given that shipment of temperature-sensitive medical commodities, such as vaccines and blood products, requires exacting thermal controls from point of origin, during overseas flights, in airport warehouses and during final ground transport to hospitals, laboratories and research centers, the IATA certification process was intense. MIA’s cold-storage infrastructure was carefully assessed, and all personnel who might handle pharma products, including those working for air cargo carriers, MIA and outside trucking/logistics companies, underwent specialized IATA training. The certification is expected to substantially boost MIA’s current annual $3.3 billion in revenue from pharma-related air freight.

Tags: Business Florida

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