“The university has a big sponsored-research budget,’’ Reagan said. Biotech is “a market that is growing stronger. And it’s one we’ve seen get better during the last four years we’ve been down here.”
A high location quotient isn’t always a good thing. An outsized industry can mean too much competition for existing businesses if the demand isn’t there for their services. Sometimes, an industry operating below its potential can be a ripe target for corporate recruiters, who see a low location quotient as evidence of room to grow.
“I ask: Which occupations do we have plenty of, and which don’t we have that many of? That may be what we need,’’ said Bruce Hoch, managing director of DCG Corplan, a New Jersey firm that wrote Broward County’s 2010 targeted-industries study.
Hoch used trends in location quotients as one tool in crafting that study, which urged Broward’s business recruiters to focus on 10 broad categories when trying to lure companies to the area. Manufacturing and sales of computer equipment got dropped from Broward’s targeted industries list thanks in part to a declining location quotient, while financial services got added thanks to the region’s relatively large banking footprint.
A similar study in Miami-Dade, the Beacon Council’s One Community One Goal plan, used location quotients to help cull target industries with potential.
The plan includes about 140 industries grouped under seven broad categories. The study’s authors calculated a location quotient for each category. The lowest went to Information Technology, which is about 60 percent below the national average. The highest: Aviation, at 150 percent larger than the national average.
Donath, the Beacon Council’s research director, said an industry’s relative strength in Miami-Dade was just one factor in the One Community’s selection of favored industries. Local and national growth trends played a large role in the making the list, which includes much of the healthcare industry as well as broadcasting.
Statistics show overall employment in South Florida’s healthcare has gone up 10 percent since 2008. Employment in television broadcasting is down 8 percent — roughly equal to the overall hiring slump in South Florida’s economy. That’s also about on par with the 6 percent decline in the national TV industry, according to federal statistics.
But Spanish-language media appears to be on an upswing in South Florida. This month, Univision announced it would create a new studio for a 24-hour cable network it plans to launch with ABC. Target employment: 350 new jobs.
The joint venture moves Univision into the English language broadcasting for the first time, but also signals the continuing rise of South Florida’s Spanish production industry. The U.S. hub for producing telenovellas, South Florida is also home to both the No. 1 (Univision) and No. 2 (NBC’s Telemundo) Spanish broadcasters in the country.
On a recent morning at Despierta America, more than 30 people crowded behind the cameras as host Johnny Lozada interviewed fitness expert Claudia Molina about low-calorie snacks. Off to the side, Mexican telenovella star Brandon Peniche sat with shirt half unbuttoned, waiting for his segment. And producers Karina Rosendo and Heydi Peralta monitored four television screens and a computer monitor to track which parts of the show seemed to be gaining traction.
“It’s like a car. The velocity is the number of clicks per minute,’’ Peralta explained, pointing to a digital fever chart showing when the show’s mentions online skyrocket. “She lets me know what works and what doesn’t work,’’ Rosendo said.
Peralta has been working at Univision for three years, while Rosendo left her CNN job in Atlanta seven years ago to join the Doral-based network. They’re part of an expanding staff at Despierta, which grown payroll amid ratings growth and increased pull in Hollywood.
“Everybody doesn’t have three jobs like they used to,’’ said stage manager Javier Aviles, 39. “ We didn’t used to have set designers. We did it all ourselves.”
An earlier version of this article contained an incorrect description of Francisco Cerezo’s position in the Miami office of the Foley & Lardner law firm. Cerezo heads the firm’s Latin American practice, which is based in Miami.