Economic yearbook 2011
Downtown Miami and international trade are surging, but the county faces plenty of challenges, including getting control of its budget and righting the ship at the financially troubled Jackson Health System.
Redevelop Miami Marine Stadium into a mixed-use project, bringing back to life the 6,566-seat venue that has been closed since Hurricane Andrew in 1992.
Sell the James L. Knight Center performance hall, conference facility and convention center to the adjacent Hyatt Regency, hopefully for enough money to pay off the city's $30-million bond obligation on the center. That will take a $5-million-a-year burden off the city's general fund and lead to a refurbished downtown convention center.
Open two new south Florida workforce offices to train workers in the city's Allapattah and Little Havana areas.
Defying expectations, downtown Miami has filled up with residents, hitting a nighttime population of 70,000. Stores and restaurants have begun staying open late. Whole Foods committed to a store that will open in 2013, and a super-luxury Marriott Marquis hotel opened. Downtown condo sales jumped more than 60% from 2009 to 2010, although most of the condos are owned by investors, who rent them to young professionals. One question is what happens to the vibrant scene now that some landlords have begun raising rents, while other investors make plans to sell.
[Photo: Miami-Dade Chamber of Commerce]
|MSA||DEC. 2010||DEC 2009||% Change||Jobless Rate|
|Miami / Miami Beach
|Source: Agency for Workforce Innovation
|Homes Single-family, existing-home sales by Realtors|
|MSA||Jan. 2011 Sales||1-Year Change||Jan. 2011 Price||1-Year Change|
|Source: Florida Realtors|
|Miami-Dade Population: 2,553,722|
|Population Growth Rate (2007-11): 1.01%|
|Population by Age:|
|Per Capita Income: $37,342|