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The Miami Herald | EDITORIAL

More than jobs: a winning strategy

 

OUR OPINION: Diversifying the region’s economy has to be Job One

HeraldEd@MiamiHerald.com

Have we hit bottom yet? Don’t be so sure. The economic outlook for 2012 is the brightest since the sharp downturn that began in 2007, but too many Americans remain out of a job, the real estate market is struggling, and political leaders at home and abroad can’t seem to unite on a common strategy to inspire confidence in the business community.

Keeping the recovery alive depends not just on the actions of Wall Street or bankers or employers big and small, but on policy decisions at the local, state and national level that will eliminate the uncertainty surrounding the direction of the economy.

It depends on a willingness in Congress to set aside partisan differences in search of sensible compromise solutions. Yet when the simple act of prolonging the 2011 payroll tax cut for another year produces another shameless display of political brinksmanship by House Republicans, who almost blocked the extension recently, there is little reason to hope that Washington will produce effective remedies for the economic crisis. Especially not in a presidential election year.

Thankfully, the bickering was set aside long enough to finally produce the long-sought free-trade agreement with Colombia and Panama that was approved in 2011. It should bring more jobs to South Florida, a major commercial port of entry for goods from both of those countries. Also vital for the local economy is a resolution of environmental objections to dredging the Port of Miami to allow a new class of larger cargo vessels to use the port. A deeper port, according to state authorities, would create 30,000 new jobs in Florida, which, despite an improvement in employment statistics, still suffers high unemployment.

Locally, a continued recovery depends on leveraging our natural advantages for a winning strategy to create more diverse jobs, an effort the Greater Miami Chamber and Beacon Council are pursuing with fervor. In Miami, where construction and tourism drove the local economy’s spectacular rise in the early part of the last decade, the downturn has hit particularly hard. Tourism has been on the rebound for some time, however, and shows no sign of abating. International visitors from Brazil and elsewhere are not only spending their vacations here, but snapping up real-estate bargains with gusto, one of the few glimmers of light in an otherwise gloomy picture.

Recovery also depends on devising solutions to save vital public services, instead of simply cutting payrolls across the board to make ends meet. The Miami-Dade County School Board and Superintendant Alberto Carvalho offered a good example by making do with reduced revenues from taxpayers and from Tallahassee — which has cut education support to local districts unmercifully for years — without firing teachers. Broward County School District, take note. It can be done, with the right leadership and agreement on priorities.

Every entity that relies on property tax dollars has had to learn how to make do with less. In 2012, that need will be just as great, but in Miami-Dade County, Mayor Carlos Gimenez, who took office after the recall of former Mayor Carlos Alvarez, has shown a keen appreciation for the need to impose austerity at County Hall. Yet he has avoided the mistake of wholesale dismissals and has offered unions a tradeoff in the form of lower salaries in exchange for jobs security.

Ultimately, however, neither tourism, construction nor public budgets lead the way toward a new and better economy for South Florida. The answer lies in providing a nurturing environment for the driving forces of the 21st Century economy, including biotechnology, other forms of science and cyber-communications. The region needs jobs that will keep our local young talent here and avoid a brain drain.

A strong example is MAKO Surgical, a medical device company founded in 2004 that employs more than 400 workers, including over 100 engineers, focusing on the use of robotics in orthopedic surgery. Headquartered in Broward County, it is one of the fastest growing technology companies in the country. The University of Miami’s biotech center also will attract more tech businesses to South Florida.

Still to be decided: Casino gambling. Community leaders have stepped up to hold forums on whether three resort destinations in South Florida would offer the right mix for the area’s economic future, and whether the proliferation of other gambling can be stemmed with a proposed statewide gambling commission. As the Legislature considers the issue, it’s important to give local voters a voice by the ballot box to decide such a game-changer.

Coming Tuesday: Protecting children, the infirm, elderly and saving Florida’s natural treasures

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