Southeast: Seizing Opportunities

Jeff Zbar | 9/24/2009

MIAMI-DADE COUNTY

Building on a firm foundation: Tourism remains a strong element of Miami-Dade’s economic plan. In fall 2008, economic development and tourism leaders began partnering with American Airlines on a $4.5-million marketing campaign aimed at aggressively promoting Miami-Dade as the ideal place to live, work and play. And in spring 2009, the Florida (soon to be Miami) Marlins broke ground on a $505-million, retractable-dome stadium slated to be ready for Opening Day, 2012.

International banking center: Miami is home to 40-plus international banks, in large part because of its multilingual workforce, more than half of whom claim Spanish as their native tongue and the rest divided among English, Creole, Portuguese, French and other European languages. In summer 2009, Scotiabank’s Private Client Group chose Miami as the site for its first U.S. branch, a new facility devoted to regional wealth management services for non-U.S. residents and citizens, mostly from Latin America and the Caribbean. Dan Wright, senior vice president and head of international wealth management, anticipates an investment of $4.8 million and the creation of 10 new jobs over the next three years.

“To be a leader in the country, you need to be a leader in Florida.” — David Pollack Molina Health-care, Miami

The natural choice: When California-based Molina Healthcare went looking for a headquarters for its Florida operations, Miami was the natural choice for the company that provides Medicare and Medicaid programs to seniors and low-income patients. Among the selling points: Miami’s multi-ethnic base, the region’s eligible beneficiaries and a general acceptance of managed care, which helped streamline the new employee training process, says David Pollack, CEO of Molina Healthcare of Florida. Molina will bring 120 new jobs to a 30,000-square-foot facility in the county’s western Doral area. The firm today serves nearly 30,000 members, but hopes to top 45,000 by year-end. Says Pollack: “To be a leader in the country, you need to be a leader in Florida.”

Growing life sciences sector: Among the county’s 1,700 life sciences businesses are Beckman Coulter, BD (Becton, Dickinson and Company), Boston Scientific, Johnson & Johnson’s Cordis and Schering-Plough; soon, there will be more. The University of Miami — emboldened by President Donna Shalala’s record $1.4-billion university campaign and the recruitment of leading clinical and genetics researchers who followed med school Dean Dr. Pascal Goldschmidt — in June announced the $80-million first phase of what will be a 1.4-million-square-foot Life Science Park near Jackson Memorial Hospital. Among the tenants: South Florida Proton Center, a $120-million cancer research and treatment facility slated to open in 2012. The park is expected to eventually employ 4,500 and generate $253 million in annual economic impact.

Tags: Southeast, Business Florida