CEOs: huge win for Miami if Amazon brings HQ2, but transit remains a troubling issue

This week’s question to South Florida CEOs who are on the Miami Herald CEO Roundtable: There are many changes that would come with bringing Amazon’s HQ2 here. If we do manage to land it, what would be the main benefits, and the main costs?

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I think that having a corporate giant in our back yard will bring some short-term benefits to our economy, however, I don’t see a company that is as monopolistic as Amazon bringing long-term benefits to any community.

Armando Caceres, CEO, founder, All Florida Paper

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There would be a significant impact on the local economy. It would also bring thousands of new jobs, better wages, and increased travel and investment to the county. Real estate prices would probably increase, which would be great for sellers, but bad for buyers. Unfortunately, we would also experience much more traffic.

Kelly-Ann Cartwright, executive partner, Holland & Knight Miami chair of the firm’s Directors Committee

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Landing Amazon HQ2 would be a great accomplishment for the respective business development organizations of Miami-Dade, Fort Lauderdale and Palm Beach, whose collaborative efforts should be used as a model for future opportunities. The most important long-term benefit will be the highly visible endorsement of our community, confirming that we possess all the necessary attributes for such a grand project. Costs will be many but will pale in comparison.

Ralph De La Rosa, president, CEO, Imperial Freight

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Congestion could definitely be an issue, depending on the final location of HQ2. Housing costs at all levels would certainly be negatively affected as well. That said, a surge of professionals and well-paid jobs coming to South Florida would undoubtedly be a boost for our economy.

Jalal Farooq, principal, Al-Farooq Corporation

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The impact will be broader than most people often consider when thinking of Amazon. This not only includes an influx of a large contingent of high tech, highly educated workforce but also secondary effects of new employment in adjacent fields, like business finance, law, and communications. Second, it creates an immediate magnet for talent at adjacent companies. That is, the probability of landing a second larger “tech” company increases as the talent is here and migration between companies is easy and not uncommon. The impact on local universities will be significant as our ability to attract faculty and student talent, in traditional and non-traditional ways, increases, as well as employment pathway options (e.g., internships, co-ops across many fields) that help to facilitate retaining trained-brains and brain-gain for South Florida.

Dr. Julio Frenk, president, University of Miami

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Simply stated, having Amazon’s HQ2 in South Florida will benefit with more jobs and a greater economic impact. The benefits would be more jobs to our market, and it will make our market more desirable.

Kaizad Hansotia, founder, CEO, Gurkha Cigars

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The move to South Florida would create tens of thousands of jobs across all industries with a multi-billion dollar impact on our region. Also, it would attract other companies to consider South Florida as a business hub.

Javier Holtz, chairman, CEO, Marquis Bank

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Amazon’s HQ2 coming to Miami would enhance the city and the state’s economic prosperity. A short list of such benefits would be: New full-time job creation, and increased construction, housing and commercial space demand. Such drivers would continue to prop up our real estate market. It will also draw the attention of other corporations that are complimentary to Amazon’s business to consider following suit. It also will] put Miami on the map and further defining us as a city that can appeal to a more diverse industry base with an ability to attract top corporations. One thing that will have to be dealt with, depending on where HQ2’s final location would be, is public transportation and our transit system. Traffic continues to be a challenge and this would certainly add pressure.

Camilo Miguel Jr., founder, CEO, Mast Capital

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The obvious main benefits would be the 50,000 high paying jobs that will be created and the investment in general that will be made in the city. It will also increase the burden on our horrendous traffic situation and cause a rise in housing prices which already are problematic. I hope that the powers that be have negotiated properly so that Amazon contributes to necessary transportation improvements, and more affordable housing is planned. Overall, it could be a coup for Miami if handled properly. For the prior reason, I would not like to see it move to Overtown as has been mentioned. It could be a positive for Imalac if more tech-oriented businesses come to Miami and bring a highly qualified pool of future hires with them.

Noreen Sablotsky, founder, CEO, Imalac

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Should Amazon bring its HQ2 here, it also would bring many new residents to South Florida plus high level tech jobs and provide valuable jobs for local residents and families. Given their projection of 50,000 workers at HQ2, that would have an incremental economic growth in our community. I also believe that Amazon is a magnet and would propel other corporate relocation to South Florida. This would mean a larger market for our institution, as we have a strong commitment to providing young children and their families with their first introduction to the STEAM (science, technology, engineering, art and math) curriculum.

Deborah Spiegelman, CEO, Miami Children’s Museum

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Landing Amazon would be a terrific win for South Florida, with a key benefit of bringing top talent to the region. While there are certainly pros and cons to the scenario, with infrastructure being the top issue, having a technology leader in our back yard is worth the challenge.

Steve Upshaw, CEO, Cross Country Home Services

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Meet the currentmembers of our CEO Roundtable

THE MIAMI HERALD CEO ROUNDTABLE IS A WEEKLY FEATURE THAT APPEARS IN BUSINESS MONDAY OF THE MIAMI HERALD. Deadline for nominations for the next class is Nov. 1. Send nominations to businesseditor@miamiherald.com.

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