(Crystal Proenza is associate editor of Real EstateFlorida.)

|

MIAMI-Even though Miami-Dade County continues to be hit hard byrising unemployment and the real estate crisis, speakers at lastnight's Beacon Council 2008 Annual Meeting remained hopeful andspirited. The economic development partnership assured 400 gatheredmembers of the business community that continued collaborationbetween the county's business organizations, along with a renewedMiami marketing initiative, will guide the region through thissurging storm.

|

"Miami is now seeing international investment at a level it hasnever been before," keynote speaker Bruce Mosler, CEO of Cushman& Wakefield, told attendees at the Biltmore in Coral Gables."South Florida's connections to Latin America make it one of themost vibrant markets in the world," he said. "As real estatecorrects, as buyer and seller come to meet and cap rates adjust, wewill see huge opportunity."

|

Over the past year the Beacon Council, under the leadership ofPete Pizarro, embarked on more then 20 trips abroad to drawinternational businesses to the region. The organization alsoassisted in the completion of 33 new projects within the countythat are expected to bring $275 million in new capital investmentsand 1.1 million sf of space. As Pizarro passed the gavel to thisyear's chair, Cushman & Wakefield senior managing director TereBlanca, there was a promise to draw even more companies toMiami.

|

"Nothing is more important than creating and retaining jobs inour community," said Blanca. "When we retain jobs and expandcompanies in Miami, Miami wins." In order to do this, theorganization says it will launch a strategic plan to identify whereimprovements are necessary to remain competitive among globaluncertainties.

|

Blanca also announced the Council's newly formed partnershipwith Broward and Palm Beach counties to promote South Florida as aregion to national and international corporations. A $2-millionmarketing campaign called Miami: Where Worlds Meet, geared towardtourists and relocating businesses, will also roll out this year.The Local Business, Local Jobs initiative, designed to assist localcompanies to expand in Miami through education and economicincentives, will also be implemented.

|

"Fortunes will be made as investors have the courage toreinvest," Mosler said of the real estate market. "Those peoplethat are willing to move in the next three to six months will takeadvantage of a down market and structure deals that will bebeneficial to their firms."

|

Blanca delivered a similar message when she urged the gatheredbusiness community to remain confident. "Miami will continue togrow as a distribution hub for the south," she said. "Life scienceentities will continue to make a major commitment to Miami.Aviation, technology and telecommunications companies will continueto choose Miami to conduct their business."

|

Guest speaker Dr. Leonel Fernandez Reyna, president of theDominican Republic, later proposed a strategic alliance between hiscountry and Florida. Around 60,000 Dominicans live in SouthFlorida, he said, with 200,000 to 250,000 throughout the state. Hewelcomed partnerships with local businesses in expanding theDominican Republic's high-tech industries.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.