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CEOs keep an eye on Miami’s cost of living

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There is no doubt that the cost of living is going up in Miami. Nevertheless, we are still affordable when compared to most great cities. We have tried to negate the impact of a higher cost of living by offering better pay and better benefits to all of our associates. We need our team to be focused on their work responsibilities rather than on personal financial problems.

Armando Caceres, CEO, founder, All Florida Paper

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While acknowledging that it is certainly not a cheap place in which to live, I have not seen the cost of living increasing in South Florida. Our company continuously reviews our wages and incentive programs to ensure that our employees are receiving a competitive compensation package.

Ralph De La Rosa, president, CEO, Imperial Freight

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To keep up with rising costs, Al-Farooq Corporation ensures that its employees are paid well above industry averages, especially when considering the benefit packages that we offer. We want all of our employees to share in our success.

Jalal Farooq, principal, Al-Farooq Corporation

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The reality is that COLA is always increasing; rarely do you ever see a significant dip. We have that expectation and plan accordingly.

Kaizad Hansotia, founder, CEO, Gurkha Cigars

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It’s a fact. According to a recent study, the annual salary needed to live comfortably in Miami is $77,000 — the 10th-highest in the country. We certainly take that into account as we evaluate salaries and benefits going forward.

Javier Holtz, chairman, CEO, Marquis Bank

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We are going to be manufacturing in Broward County because the cost for the type of facility we need was too high in Miami.

Noreen Sablotsky, founder, CEO, Imalac

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Cost of living is always something we watch and adapt to, and as such, we make annual inflationary adjustments to account for it. However, here in Broward, we haven’t seen significant cause for concern.

Steve Upshaw, CEO, Cross Country Home Services

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Miami Herald CEO Roundtable now open for nominations

Twice a year, the Miami Herald invites a dozen top company executives to serve on our Miami Herald CEO Roundtable. Now is that time!

Please send suggestions to businesseditor@miamiherald.com by Nov. 1. Tell us the nominee's business background and why he or she would be a good candidate for the Roundtable.

They can be CEOs of Fortune 500 companies or small-business people who run their firms from Starbucks. Our goal: to give voice to a variety of viewpoints about the South Florida economic climate and business concerns.

Members are asked to serve for six months. That means responding by email to questions posed by our editorial team on the specified deadlines.

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Meet the current members of our CEO Roundtable

THE MIAMI HERALD CEO ROUNDTABLE IS A WEEKLY FEATURE THAT APPEARS IN BUSINESS MONDAY OF THE MIAMI HERALD. RECENT QUESTIONS HAVE INCLUDED

▪ The key to retaining employees? Start with good pay and benefits

▪ Live-work-play? More employees opt to live closer to workplaces

▪ Some CEOs say they’ve raised wages this year

▪ Here are some issues CEOs hope lawmakers keep top-of-mind this election year

▪ CEOs offer varying opinions on higher education

▪ Local firms are doing their part to be more eco-friendly

▪ CEOs are all smiles thanks to local economic boom

▪ Is work-life balance a myth? CEOs share their thoughts

▪ CEOs help employees stsruggling with long commutes

▪ Despite airline woes, CEOs are not changing traveling habits

▪ CEOs have diverse opinions on Trump’s tariffs and other actions

▪ CEOs feel pressure to keep wages competitive

▪ South Florida CEOs say that Miami can sustain David Beckham’s soccer team

▪ CEOs hope common-sense control on assault rifles happens soon

▪ Will Amazon open HQ2 in Miami? Maybe, maybe not, but city’s profile rises, CEOs say

▪ We have much to learn about public transit from other cities, CEOs say

CEOs: Cuban coffee, flexibility and beach picnics help employees balance job demands

CEOs discuss how to deal with extreme views in the workplace

▪ Extra guards, added security measures protect staff and clients

▪ As automation advances, CEOs say humans are still needed

▪ Holiday parties celebrate employees and the year’s successes

These CEOs have zero tolerance for sexual harassment

Will automation change your job? Yes — and no, CEOs say

▪ How CEOs address hostility in the workplace

▪ Good storm planning can stave off disruptions, CEOs find

Storms highlighted serious local issues, CEOs say

▪ Planning, preparation are keys to disaster recovery, CEOs say

▪ CEOs say students who improve certain skills are better prepared for future jobs

▪ Uncertainty about the Affordable Care Act on the minds of CEOs

▪ In a year of challenges, CEOs took risks, learned and grew

▪ CEOs believe community should be involved in making public schools better

▪ Best bosses we ever had inspired, challenged and cared, say South Florida CEOs

▪ South Florida CEOs try to evaluate the nation’s top CEO: President Trump

▪ CEOs’ advice to college students: Network! Internships! Research!

▪ Affordable housing a cause of concern for CEOs

▪ Communication, cool heads key to avoiding public relations nightmares

▪ Meet the new Miami Herald CEO Roundtable

▪ Ahh, the first job. CEOs learned valuable lessons on the bottom rung

▪ It’s getting harder for employees and CEOs to disconnect while on vacation

▪ Florida’s legislators must act on economy and education, CEOs say

Most CEOs provide paid internships, and everyone benefits

Local firms rich in generational immigrants, CEO say, but deportation efforts worry some

Long hours at the office? CEOs say how they avoid burnout

CEOs prefer balance when dealing with a defiant employee

The most important issue facing South Florida this year? CEOs say it’s traffic

Have you been to Cuba? CEOs discuss business and travel opportunities on the island

CEOs discuss their resolutions for the New Year

CEOs: Trump, ugly politics among the biggest surprises of 2016

CEOs’ top request for Trump’s first 100 days: ‘Unity’

CEOs won’t tolerate ugly comments in the workplace

CEOs assess South Florida’s economy for 2017

Did Obamacare hurt your business? South Florida CEOs respond

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