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
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.
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Ralph De La Rosa, president, CEO, Imperial Freight
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
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
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
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
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
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 firstname.lastname@example.org 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.