The Miami-Dade Beacon Council Holds 2022 Annual Meeting, Celebrates Record-Breaking Performance for Second Consecutive Year
Securing commitments that will generate over $800 million in annual economic impact for Miami-Dade County, the organization honors its leaders and successes
MIAMI, FL (NOVEMBER 17, 2022) – The Miami-Dade Beacon Council, the County’s official public-private economic development partnership, today announced record-breaking achievements for the second consecutive year at their 2022 Annual Meeting, presented by Florida Power & Light. The event, held at the Loews Coral Gables Hotel, was attended by private and public sector leaders convened to recognize and celebrate the impact of The Beacon Council’s 2021-2022 economic development efforts.
The meeting kicked off with a presentation of the results the organization achieved in the past fiscal year, which revealed significant growth for Miami-Dade County’s (the County) long-term economic future. The Beacon Council reports having secured commitments from 57 companies looking to expand or relocate to the County, with more than 150 in the pipeline, marking this the highest number of projects secured in the organization’s 37-year history. Collectively, these commitments will produce more than 8,000 new direct and indirect high-value jobs with competitive wages averaging to $97,000 each – more than 150% higher than the County’s median salary. Utilizing over 1 million square feet in new commercial space across the community, these projects generate more than $800 million of recurring annual economic impact for MiamiDade County.
“Supporting job creation and attracting business investment to Miami-Dade County has never been more important as we plan for a resilient future and work to sustain our economic momentum,” said Miami-Dade County Mayor Daniella Levine Cava. “The Beacon Council has played a critical role in this process. Their work has helped 8,000 families to participate in our local economy – buying homes, accessing healthcare, taking a flight and shopping locally – with an additional $500 million in annual disposable income. This is an outstanding outcome as we continue to build upon and expand our county’s robust business climate to participate in the growing global economy.”
The 57 companies recognized at the meeting span diverse markets, with international projects accounting for half of the year’s activity. Sixty percent of the international projects hail from Europe, with Spain continuing to lead as the County’s top foreign direct investment market. The industries represented in this year’s projects also varies widely, with technology and life sciences & healthcare leading job creation, each driving 20% of the total direct jobs created by last year’s projects. Financial services and trade & logistics followed closely behind, but all target industries – including aviation, creative industries, and hospitality & tourism – saw some level representation.
Among the notable arrivals and expansions in the County are:
- World-leading financial service organizations, including one of the world’s largest alternative asset management firms, Millennium; New York City fintech company Yield Street; Bradesco, one of the largest banks in Brazil; and Miami-based financial services firm Insigneo.
- Israeli tech companies, with startups such as Reeco and Sauce selecting Miami as their U.S. hub.
- Women- and Black-owned / led businesses, such as luxury cruise operator, Azamara; healthtech startup and wellness concierge service CourMed; artisanal empanada concept Half Moon Empanadas; and Miami-based 3rd -party logistics provider Alpha International Transport.
- California and Chicago transplants, including Ingram Micro and ML Tech.
- Leaders in life sciences and healthcare, such as Pharma Manufacturing company, Avema Pharma Solutions; InnFocus, a manufacturer of implantable lenses for glaucoma patients; and test-to-treat digital healthcare firm eMed.
“We’re proud that the economic boom we helped achieve this year further solidifies Greater Miami’s position as a global business hub,” said William D. Talbert, III, Interim President & CEO, Miami-Dade Beacon Council. “Not only did we satisfy the pent-up demand to reassert international investment in Miami by bringing a record number of international businesses, with nearly 60% hailing from Europe, but we reinforced our leadership in target industries that will cement strong, sustainable markets in technology, healthcare, finance, trade and logistics, hospitality and more for the County.”
The meeting also celebrated the organization’s dynamic leaders, including outgoing 2021-2022 Chair George Bermudez, and incoming 2022-2023 Chair Yolanda Cash Jackson, who made history as the first Black woman to lead The Beacon Council. Additionally, meeting participants were able to engage with displays from select 2021-2022 Key Recipients and partners in The Beacon Council’s Created in Miami initiative, whose mission is to build, strengthen and promote a local ecosystem of Miami creators and innovation.
“By keeping our core mission – supporting the long-term health and prosperity of Miami-Dade residents and businesses – front and center in our daily lives, our team continues to set the bar higher for exceptional economic development,” said George Bermudez, outgoing 2021-2022 Chair. “Our track record of successfully attracting and retaining high-value jobs and innovations that impact the whole of our community has only improved over time. I know that Yolanda’s energy, vision, and dedication to her hometown will inspire action. She’s determined to make Greater Miami even greater, and I know she will keep us focused on driving inclusive growth as this community claims its spot as one of the most innovative business destinations on the planet.”
The Beacon Council’s 2022 Annual Meeting was presented by Florida Power & Light and made possible with the support of Partner Sponsors including AAR, CareerSource South Florida, Florida International University, and Kroger, Corporate Sponsors BankUnited and WOT, Media Partners Miami Herald and El Nuevo Herald, and other generous sponsors.
Click here to download the 2022 Annual Report (which includes details on the organization’s activities and the full roster of 2021-2022 projects).
About the Miami-Dade Beacon Council
The Miami-Dade Beacon Council is the county’s official economic development partnership. Attracting and retaining companies that create high-value jobs and invest in our community, The Beacon Council is committed to driving long-term economic prosperity and inclusive growth for Miami-Dade County, its businesses, and residents. We achieve this by marketing Miami- Dade as a world-class business destination; growing local companies and fostering entrepreneurs; and shaping Miami-Dade’s economic future. Established in 1985, The Beacon Council has attracted more than 120,000 new jobs and $7 Billion of new investment to Miami- Dade County. For more information, visit BeaconCouncil.com.