Miami-Dade Beacon Council touts record 2021 for job commitments, economic impact
The Miami-Dade Beacon Council says it helped secure commitments for approximately 5,000 new high-paying jobs over the past 12 months.
According to its annual report, released Wednesday, the organization attracted 32 companies to the county, luring about $229 million in new capital investments.
A Beacon representative said it was not yet reporting jobs created. Firms receiving tax credits have three years to fulfill their commitments in order to qualify for incentives; 25% of the jobs committed have with incentives agreements.
“While 2021 continued to challenge even the best businesses, we at The Beacon Council helped Greater Miami capitalize on the unique opportunities the slowdown presented,” Michael A. Finney, president and CEO of the Miami-Dade Beacon Council, said in a statement. “We helped lure a record number of domestic and international business expansions and relocations, expanding our presence in targeted industries, such as fintech and cryptocurrency, investment and banking, healthtech, aviation, distribution and logistics, startups and innovation.”
The jobs carry an average salary of $120,000, about twice the average annual wage for jobs in Miami-Dade County. Beacon calculates that with a combined annual disposable personal income of $781 million — and with an additional 8,500 jobs supporting the 5,000 — the total annual economic impact would be just short of $1 billion, Beacon says.
“Breaking a 36-year record for direct jobs, indirect jobs, investment into our community, and an annual economic impact of almost $1 billion — and during a pandemic — is a clear indication that we are on the right track,” said Gary Goldfarb, Chief Strategy Officer of Interport Group of Companies and 2020-2021 Chair of the Miami-Dade Beacon Council. “We are now a key player in many industries that did not consider Miami an option just a couple of years back. The future is ours; we just have to keep working at it.”
Added Miami-Dade County Mayor Daniella Levine Cava: “Even in the middle of a global pandemic, in a business environment fraught with disruption and uncertainty, the Beacon Council stepped up to deliver for our community, our residents and our businesses.”
This story was originally published November 17, 2021 at 2:30 PM.
