Key Facts About Miami Dade County
It’s safe to say that Miami Dade County is one of the most diverse areas in the state of Florida. Between the pleasant, tropical climate, the turquoise waters, and the endless amount of entertainment and active lifestyle pursuits, Miami Dade is an exciting place to be, year-round.
There are about 2.7 million people who hail from over 120 countries. It is the most populated county in all of Florida, and the seventh most populated county in the US. While English is the main language spoken, many multilingual residents also speak Spanish, French, and Portuguese, depending on where they come from. When visiting any of Miami Dade County’s 34 cities, you can’t miss out on the unique and unforgettable dining experiences, many of which are strongly influenced by these cultures.
Walking through Coral Gables or Coconut Grove, Florida, you may discover quaint, family-owned cafes and restaurants. Miami Beach is also home to authentic Cuban dining, Argentine steaks, French pastries, and a myriad of other unforgettable fusion dishes that cannot be found anywhere else.
Miami Dade County is a key player in the arts industry. It is home to the Miami Art Museum and the Miami Museum of Science. Facilities like the Performing Arts Center set the scene for opera and ballet as well as music. Non-profit organizations are frequently involved in the arts scene and divert generated funds right back into the local communities.
Miami was first settled by Native Americans, with evidence that dates back about 12,000 years. They were known to have settled along the northern banks of the Miami River.
Much of the county’s land is in the Everglades National Park to the west, home to a large mangrove ecosystem and many endangered species of animals. The only people to inhabit the Everglades are those of the Miccosukee Tribe. The Everglades is a nationally significant United States landmark, as it is the only wetland ecosystem of its kind. It is also quite beloved to visitors as one of the most popular tourist destinations in South Florida.
On the eastern side of Miami, you will find the county’s famed beaches and coastline, which in many areas are lined with some of the finest hotels and resort areas in the state. Biscayne National Park can also be found here.
Business Economy in Miami Dade County
Foreign trade and commerce is big in Miami Dade County. As a top trading partner, the area benefits from its key location near shipping lines, as well as busy airports and seaports. Millions of tons of cargo have moved through these ports over the county’s lifetime. In fact, Miami’s international airport moves far more products than almost any other in the United States. The most common Miami Dade County exports include apparel and textiles, medical equipment, pharmaceuticals, transportation equipment, and agriculture.
Miami Dade County is also a central hub for medical research and biotechnology.
Hundreds of Fortune 500 companies make their home in Miami Dade County. Financial institutions have made great strides, with wealth management and private banking attracting business owners and entrepreneurs from all over Latin America and Europe.
Ever been on a cruise departing from South Florida? You can’t discuss business and economy in Miami Dade without mentioning tourism, because it is just that influential. The Port of Miami is infamous for vacation cruises, which is one of the reasons why this industry is doing so well. It must have to do with cruising options that offer exciting nightlife, shopping, and restaurants while taking travelers to warm, tropical settings in the Caribbean.
Real Estate Options
Miami Dade County has numerous options for residential and commercial real estate. The real estate market conditions have a great impact on the local economy, providing primary and secondary incomes to thousands every year. Condominiums, townhomes, and single family homes are especially popular, showing an overall increase in sales in the last few years or so. Investment properties are also on the rise. Luxury condos act as second or third vacation homes to residents who travel on a more frequent basis.
Economists agree that together with foreign investment and low rate mortgages, there is an increased demand for construction of new housing and buildings. While rent is higher in Miami Dade than most other cities and states, the average household income is also higher than the national average. Values of homes are currently increasing in Miami, Miami Beach, Aventura, and Coral Gables.
As for commercial real estate, Miami Dade is host to many retail shops and shopping centers with huge potential for expansion. The construction industry is actually responsible for employing thousands of residential newcomers. Other industries such as manufacturing also contribute to commercial real estate, with customized properties needed for machinery.
Business Prospects in Miami
Miami Dade County holds a huge potential for just about any business aiming to expand into this exciting market. With a huge international population, along with a great amount of tourist visitors yearly, a wide array of businesses can succeed in this market that caters to services, technology, hospitality, exports, construction, real estate, and even startups.