The Beacon Council

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The Beacon Council

  1. 1. One Community One Goal Update Doral Business Council December 13, 2011Frank R. Nero, President and CEO, The Beacon Council
  2. 2. Misconceptions About Miami-Dade• The average resident’s age is 65• Home of Miami Vice• Lots of hurricanes• We only have beaches and not much else to do• People only speak Spanish• There are too many insects• We are only a tourist based economy 2
  3. 3. What is Miami-Dade County Today?What is our vision forour community in thefuture?Community at the“Crossroads” 3
  4. 4. Trends in Unemployment and Job Creation 4
  5. 5. Miami-Dade Countys Unemployment Rate (1996 – 2010)14.0% 12.4%12.0% 10.7%10.0% 7.8% 8.0% 7.3% 7.1% 7.2% 6.9% 6.4% 5.8% 5.6% 6.0% 5.3% 5.3% 4.3% 3.8% 3.8% 4.0% 2.0% 0.0% 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 19 19 19 19 20 20 20 20 20 20 20 20 20 20 20 5
  6. 6. Jobs Created or Lost from 2008 - 201130,00020,000 18,900 15,900 11,90010,000 7,200 4,900 3,700 0 Ja Ap Ju 8 O 8 Ja Ap y 0 Ju 9 O 9 Ja Ap y 1 Ju 0 O 0 Ja Ap y 1 Ju 1 O 1 ct ct ct ct nu ly nu 08 ly nu 09 ly nu 10 ly ril ril ril ril-10,000 ob ob ob ob 0 0 1 1 ar ar ar ar 0 0 1 1 er er er er y 0 1 8 9 0 1 1-20,000 -20,600 -23,700-30,000 -33,100 -31,200 -36,400-40,000-50,000 -50,000-60,000 6
  7. 7. Current Employment in Miami-Dade County October 2011 Industry Title # of Emp % of Total Total Employment 1,013,210 100.00% Trade, Transportation, and Utilities 254,000 25.07% Retail Trade 126,200 12.46% Wholesale Trade 69,100 6.82% Transportation, Warehousing & Utilities 58,700 5.79% Education and Health Services 166,900 16.47% Hospitals 45,200 4.46% Total Government 153,500 15.15% Professional and Business Services 136,800 13.50% Leisure and Hospitality 109,300 10.79% Financial Activities 60,600 5.98% Other Services 40,400 3.99% Manufacturing 33,700 3.33% Construction 31,400 3.10% Information 17,000 1.68% Agriculture 9,310 0.92%Source: Florida Department of Economic Opportunity, Labor Market Statistics, Census of Employment Statistics & Quarterly Census of Employment andWages, 2011 7
  8. 8. Miami-Dade County Targeted Industry Strategic Plan - Background•1984 - The Beacon Council was founded and developedbusiness retention, expansion and recruitment strategies•1996 - One Community One Goal initiative identifiedTargeted Industries•Given extreme changes in global economy and competitionfrom cities throughout the world for new investment and jobcreation – a comprehensive update on strategicopportunities was needed 8
  9. 9. Current Miami-Dade County Targeted Industries • Aviation • International Commerce • Fashion-Lifestyle • IT/Telecom • Life Sciences • Film & Entertainment • Financial Services • Visitor IndustryThe Beacon Council has partnered with the County to incorporate Target Industries into the Economic Element portion of the ComprehensiveMaster Plan and the Economic Development component of the County’s Strategic Plan. 9
  10. 10. What will the One Community One Goal Targeted Industry Strategic Plan do?Identify strengths and challenges of Miami-Dade County’s economyIdentify and refine Target Industries for future economic development effortsIdentify education and training requirementsProvide an economic development marketing plan of action that will create new jobs and investment in those industries and across the economy 10
  11. 11. What is a Targeted Industry? Selected industries with the highest potential for increased wages, new investment and new jobsTo ensure success: 1. Local strengths and assets must match selected industries’ specific requirements 2. Economic development strategies and resources must yield the highest ROI 11
  12. 12. Once the new OCOG Targeted Industriesare selected, strategies will be created for: •New Recruitment •Retention and Expansion •Marketing strategies for Economic Development Missions, Trade Shows, Communications, Contacts and Outreach 12
  13. 13. Education and training are the foundation of the program1) Different approach than first OCOG2) All University Presidents and Superintendent of Miami- Dade County Public Schools serve on OCOG Steering Committee3) Developing an inventory of Education Assets and Training Programs that is aligned with the proposed Targeted Industries 13
  14. 14. OCOG Initiative Focus 1) Identifying the Threats is the best way to find solutions and strategies on how we will address the issues 2) None of the issues identified are insurmountable 3) OCOG is a unified community effort to address the potential threats and continue to attract new jobs to Miami-Dade County. 4) Unprecedented cooperation between public sector, education and private sector to develop and implement the necessary actions. 5) Wake-up Call/Call To Action 14
  15. 15. 15
  16. 16. Deliverables Competitive Evaluation Report Completed Detailed examination of Miami-Dade’s economy, its strengths, challenges, opportunities and threats. Education Assets Inventory Inventory of PreK-12, college, university, postsecondary, workforce development and training infrastructure. Includes interviews with area employers about their workforce needs. Recommend educational programming to fill gaps between what is offered and what employers and target industries need. Target Profiles Report In-depth profiles of the target industries and subsectors that will be the targets of future economic and workforce development activities. Target Industries Strategies and Implementation Plan Economic development, workforce development and marketing action plans for each target industry. Detailed step-by-step program of work, including an implementation timeline, task assignments, and performance metrics. 16
  17. 17. OCOG Timeline Update and Deliverables1) Completed Competitive Assessment Report released on December 6, 20112) Final Target Industry Clusters will be announced on January 12, 20123) Education Assets Inventory aligned with Target Industries completed in January, 20124) BLUEPRINT: Final Report, Marketing Plan and Recommendations for Implementation in March, 2012 17
  18. 18. Co-Chairs of One Community One Goal Mayor Carlos A. Gimenez Miami-Dade County Alexandra Villoch Senior Vice President, Advertising and Marketing Miami Herald Media Company Adolfo Henriques Vice Chairman, President and COO Gibraltar Private Bank & Trust 18
  19. 19. One Community One Goal has a one year time frame – April 2011 to March 2012 Major Elements Completed1. Steering Committee – 55 Community, Business, and Education Leaders2. OCOG Survey – 4,100 Responses in Three Languages3. Seven Focus Groups Convened and Additional Input Sessions • Aviation/Aerospace • Tourism/Hospitality • Banking/Professional Services • Special Group: New Leaders • Design/Creative/Fashion-Lifestyle • GMCC Goals Conference • IT/Telecom • Community Breakfasts • Logistics/Trade4. SWOT Sessions and Interviews 19
  20. 20. Who is funding One Community One Goal?Present Contributors- BlueCrossBlueShield- Dosal Family Foundation- Greater Miami Convention and Visitors Bureau- John S. and James L. Knight Foundation- Miami Downtown Development Authority- Ryder Charitable Foundation- The Beacon Council- The Beacon Council Economic Development Foundation-The Miami Foundation-The Miami Herald and El Nuevo Herald-Wells Fargo-World Trade Center Miami 20
  21. 21. One Community One Goal Partners The Beacon Council Foundation is working in partnership with many community and business organizations who have provided continued assistance and involvement in One Community One GoalOne Community One Goal partners have: • Hosted OCOG reporting events • Distributed and promoted OCOG surveys and Focus Groups • Provided input, research, and data for analysis • Served on the One Community One Goal Steering Committee 21
  22. 22. OCOG Partners List Continues to ExpandAmerican Airlines Miami-Dade Chamber of CommerceBaptist Health South Florida Miami-Dade CountyBarry University Miami-Dade County Board of County CommissionersBecker & Poliakoff, P.A. Miami-Dade County Cultural AffairsBlueCrossBlueShield Miami-Dade County League of CitiesCAMACOL (Latin Chamber of Commerce of the U.S.A.) Miami-Dade County Public SchoolsCatalyst Miami (Human Services Coalition) Miami-Dade County Sustainability, Planning, and Economic EnhancementCoalition of Chambers Miami Downtown Development AuthorityCoral Gables Chamber of Commerce Miami International AirportDelancyHill North Dade Regional Chamber of CommerceDoral Business Council Perry Ellis International, Inc.Esslinger-Wooten-Maxwell Realtors Port of MiamiFlagler Real Estate Services Sandler, Travis & Rosenberg, P.A.Florida International Bankers Association Sant La Haitian Neighborhood CenterFlorida International University Seaboard MarineFlorida Memorial University South Florida Hospital & Healthcare AssociationFlorida Power and Light South Florida WorkforceGibraltar Private Bank and Trust Co. St. Thomas UniversityGoldfarb Management Services The Beacon CouncilGreater Miami Chamber of Commerce The Miami FoundationGreater Miami Convention & Visitors Bureau The Miami Herald and El Nuevo HeraldHEICO Corporation United Way of Miami-DadeHomestead/Florida City Chamber of Commerce University of MiamiMCM Corp. Wells FargoMiami Dade College World Trade Center MiamiMiami Free Zone 22
  23. 23. OCOG Survey Questions and Results 23
  24. 24. How well does Miami-Dade County satisfy your needs in the following areas? 1 = Very Dissatisfied 2 = Dissatisfied 3 = Average 4 = Satisfied 5 = Very Satisfied Most Satisfied Colleges and Universities Climate Image of region as destination Least Satisfied Government Leadership Job Growth Mass Transit 24
  25. 25. What are Miami-Dade’s top three strengths? 25
  26. 26. What are Miami-Dade’s top three weaknesses? 26
  27. 27. How would you grade Miami-Dade County’seconomic performance over the past five years? 27
  28. 28. To better serve your business, Miami-Dade County needs to increase education and training of individuals with the following skill sets: Top Responses All Companies 250+ Employee Companies 28
  29. 29. In the next five years, my business expects to: All Companies 250+ Employee Companies Business owner and manager responses only 29
  30. 30. Compared to the past five years, I predict that my company’s ability to fill job vacancies in the next five years will be: All Companies 250+ Employee Companies Business owner and manager responses only 30
  31. 31. Competitive Assessment Findings 31
  32. 32. Competitive Assessment Findings:Strengths and Opportunities•International community with global brand recognition•Education community involved•Information Technology•Tourism•Downtown Miami•Quality of Life amenities•Geographic Location and Logistics Infrastructure 32
  33. 33. Competitive Assessment Findings:Weaknesses and Threats• High levels of unemployment• Low wages• “Transactional economy” – not fully leveraging commerce flowing through economy• Talent retention• Local government, regulations and permitting• Entrepreneurship• Strained ground transportation options• Limited legacy of major corporate involvement in economic development 33
  34. 34. Research Funding• Universities in Miami-Dade received nearly $400 million in research funding in 2009.• This is more than Raleigh-Durham (Research Triangle) and Phoenix.• As % of economy, Miami’s research economy is average among benchmarks.• Good news: Research funding grew 40% (Greater Miami) and 35% (Miami- Dade) over the previous 5 years, at the top of the benchmark list 34 34 34
  35. 35. Infrastructure• Excellent assets Airport Cargo Traffic, 2010 • Port Miami 6,905 Chicago (OHare) 4,896 • Airports Los Angeles 3,955 New York (JFK) 3,900 • Rail Dallas 3,032 Atlanta 2,628• Visionary projects currently being Houston (Intercon) 1,526 developed Seattle 1,394 San Francisco 1,304• Weak roadway infrastructure Phoenix 1,213 Boston 817 • High congestion index Ft. Lauderdale 476 Raleigh 460 • Employer frustration with Charlotte 404 accessing labor across region San Jose 311 Avg. = 2,090 Norfolk 215 U.S. = 1,084 0 2,000 4,000 6,000 Landed weight (million lbs.) 35 35 35
  36. 36. Exports•The $20 Billion of exports originating in South Florida in Exports as a Share of GDP2009 accounted for 3% of all exports from the United States 2009 Houston 18.1% Seattle 16.1%•South Florida’s exports accounted for 12% of local San Jose 14.5%GDP, the 4th highest share among benchmark regions and a South Florida 12.3%greater share than larger exporters such as New York City Los Angeles 7.0%and Los Angeles Boston 6.4% New York 5.8% Dallas 5.6% Chicago 5.5% Atlanta 5.1% San Francisco 4.8% Phoenix 4.2% Charlotte 3.7% Raleigh 3.4% Norfolk 2.5% 0% 5% 10% 15% 20% 36 36 36
  37. 37. Exports•Exports originating in South Florida grew 53%, the 3rd Export Growth, 2005-2009highest among benchmark regions and significantly greaterthan the benchmark and US average of 17%. 37 37 37
  38. 38. College Enrollment•Miami-Dade’s concentration of 77 enrolled college students College Enrollment, 2010per 1,000 population Is exactly the benchmark average and (Students Per 1,000 Pop.)above South Florida’s 73 students per 1,000 population.•Miami Dade College has the highest enrollment of anypublic community college system in the nation. 38 38 38
  39. 39. College-educated Young Professionals• Is Miami-Dade retaining its college Young Professional Education, 2009 (Pop. 25-44 with a Bachelorʼ or Higher) s graduates? San Francisco 56.8%• College-educated are just 28% of all Boston San Jose 50.6% 47.0% YP’s in Miami-Dade Raleigh 46.6% New York 42.0% • Many more choose Broward and Seattle 40.3% Palm Beach counties Chicago 38.5% Charlotte 37.5%• Growth in college-educated YP’s in South Florida 36.8% Atlanta 36.8% Miami-Dade grew 6% over the recent Dallas 31.7% 5 year period (2004-2009), versus 8% Los Angeles 30.1% for the rest of the population Houston 28.1% Miami-Dade 28.0% Norfolk 27.1% Avg. = 38.4% Phoenix 26.7% U.S. = 30.9% 0% 20% 40% 60% Percentage of population aged 25-44 with a Bachelorʼ degree or higher s 39 39 39
  40. 40. Housing Affordability•Miami-Dade County has the lowest median home sales Median Home Sales Price,prices among benchmarks outside the region. 1st Quarter 2011•With median home sales at $125,000 in the first quarter of2011, Miami-Dade County’s home prices are well below thebenchmark average of $237,000 and United States averageof $165,000. 40 40 40
  41. 41. Competitive Assessment Findings:Assets for Industry GrowthWORKFORCE Education leaders engaged in the community and economic development High concentration and volume of college students and graduates Significant number of technical degrees awarded, particularly in health fields High concentration of regional medical workers Highly rated programs, positive perception, and increasing prestige of all area colleges and universities – a higher education destination Strong expansion of higher education R&D Culturally diverse, multi-lingual workforce Major strides are being taken to improve Miami-Dade County schools Culture of population is historically entrepreneurial-minded Education faculty are experienced in multi-cultural education Success in leveraging state Incumbent Worker funding Small business 41 41
  42. 42. Competitive Assessment Findings:Assets for Industry GrowthBUSINESS CLIMATE Hub of global business between the US, Latin America, and the Caribbean No personal income tax and competitive corporate income tax rates Competitive sales tax rates Nearly $400M in research activity at local universities and growing fast Global economy with strong international connections Strong cultural, business, and infrastructure assets for global trade NAP of the Americas and other data centers Market-adjusted real estate costs, housing and office Strong and growing healthcare and life sciences sector, international banking Emerging and energized IT sector Tradition of robust small business community Multi-lingual business community 42 42
  43. 43. Competitive Assessment Findings:Assets for Industry GrowthINFRASTRUCTURE Excellent diverse distribution infrastructure Competitive airfares MIA with high passenger traffic, cargo activity, and $6+ billion in recent upgrades 5 regional airports Port of Miami – greatly increasing capacity to handle international trade and is #1 cruise port NAP of the Americas and other data centers Expanding mass transit from MIA to downtown Strong medical community Creative traffic management 43 43
  44. 44. Competitive Assessment Findings:Assets for Industry GrowthQUALITY OF LIFE Beautiful climate and natural environment Outdoor recreation Ethnic diversity Robust cultural opportunities Moderate housing affordability relative to other global metropolises High quality healthcare Creative approaches to city development that reflect Miami-Dade County’s character Continued investment in world-class arts and cultural facilities and events Professional sports teams International visitor destination and visibility 44 44
  45. 45. Highlights:Education Assets as Target Drivers• Trade – Formidable array of International Business, Marketing and Law programming – Airport and Port Partnerships with area schools• Information Technology – UM Center for Computational Science enabling Genomics and Bioinformatics capabilities – Center for Southeastern Remote Tropical Advanced Sensing (CSTARS) enables advanced GIS for a variety of applications• Bioscience – UM Life Science and Technology Park, Miami-Dade College partnership along with broad strength in biology, chemistry and healthcare (clinical and administrative) offerings – Life Tech Florida collaboration among area institutions• Education – Miami’s strength and diversity of public and private educational opportunities is itself a draw• Existing Hospitality Workforce – Strength in hospitality programs provide foundation from which graduates can bridge to further learning in Trade, Finance, Healthcare and Medical Tourism 45
  46. 46. One Community One GoalFor further information go towww.onecommunityonegoal.com to access:• Project Updates• OCOG Competitive Assessment Report• Additional OCOG documents 46

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