Robust Economy
A dollar invested in Miami yields more than a dollar invested in other places. Why is that? Simply put: few places can boast the same advantages and unique structural foundations as Miami.
A Global Capital
Miami boasts a dynamic corporate landscape, unparalleled diverse workforce, pro-business tax framework, world-ranking educational institutions, and exceptional quality of life are only some of the reasons why businesses large and small, from mid-market companies to Fortune 500 leaders, have set up shop in Miami.
$219B
Total GDP
With a gross domestic product of $219B, Miami-Dade ranks first as the county with the highest GDP in Florida, making up 14% of the state’s total GDP, and the fourteenth in the US. The county’s economy is roughly the size of Greece.
2.7M
Population
At 2.7 million people, Miami-Dade is the most populous county in Florida, with 12.5% of the population, and the seventh nationally.
63.8%
Labor Force Participation
The labor force participation is 63.8% (1.4M people), and the county stands above national (62.6%) and state (58.5%) averages.
6.7%
Job Growth
Equally remarkable is job growth in the county, which registered a 6.7% increase between 2018 and 2023, outpacing the national job growth rate by 3.1%.
Epicenter of Latin American Commerce and Culture
Miami’s economy is powered by a diverse range of industries including international trade, finance, tourism, and a growing technology sector, positioning the city as a dynamic economic hub and a gateway for global business.
A Hub for Foreign Businesses
Miami is the sixth-best place in the US for foreign businesses, and it is the number one city in the world in terms of the percentage of foreign-born residents (58.3%).
Miami’s Unique Continental Position
Miami is uniquely positioned, both geographically and demographically, as a bridge between Latin America, the Caribbean, and the US.
Capital of the Americas
Miami is more than a gateway to the Southern part of the Americas, it is the one undisputed capital of Latin American commerce and culture. 43% of all flights from the United States to South America are handled by Miami’s Airport. Around 2.7M residents (70% of the population) are of Hispanic heritage.
Unmatched Connectivity and Trade with Latin America
The county’s Data Centers have been key to spreading digital access across Latin America: more than 90% of the region’s data passes through Miami. In addition, more than 70% of Florida’s exports go to the southern region of the continent.
A Booming Hispanic Business Ecosystem
There are 1,200 multinational corporations that have set up the headquarters of their Latin American branches in Miami-Dade County. 30% of all Miami-Dade County businesses are run by people of Hispanic descent.
A Multi-faceted Economy
Harnessing these incredible demographic and geographical assets, Miami has been able to diversify its economy and become a leader in a variety of private sectors.
Aviation
In addition to being the busiest airport for international freight, Miami International Airport serves more flights to Latin America than any other airport in the US, making it a cornerstone for trade between the Southern and Northern part of the Americas. All told, the aviation industry accounts for some 88,500 jobs in the county.
Trade and Logistics
Miami is the number one trading partner with Latin America and the Caribbean: one-third of all of US exports to LatAm come from Miami. There are 30,000 direct local jobs, and 340,000 jobs being supported by the larger trade and logistics industry in Miami-Dade County.
Finance
South of New York, no other US city has as many international banks as Miami. Besides being the seventh most important financial hubs in the country, the city has also recently become a magnet for fintech companies—some 500 of which are currently located in the area.
Technology
It is a truism that Miami is a Capital for Startup Capital, but the numbers are still there. With 2,500 startups, 90,000 jobs, and 6+ unicorns, the whole startup ecosystem has been valued at $95B.
Life Sciences & Healthcare
Miami has positioned itself as a key player in the life sciences and healthcare field, focusing on biotechnology, pharmaceuticals, medical devices, health tech, and healthcare services.
Blue & Green Economy
Offering great labor conditions, and above-average wages, green jobs in Miami are growing at an exponential rate thanks to the Climate Action Plan led by Miami-Dade County. Environmental issues are top of mind for the city, and accordingly, the local government is spending $330M a year in industries that are part of the green & blue economy.
Top Companies
Miami-Dade County’s rapidly growing economy attracts hundreds of new companies each year. From innovative startups to global corporations, the following twenty businesses represent just a glimpse of the city’s dynamic and diverse business landscape.
How can we help?
Whether you are looking to relocate or expand, we can help. Contact our world-class economic development team to learn more.