Top Industries in Miami
October 7, 2016The pleasant peninsula of Florida glistens with lovely beaches and the appeal of a steady, warm climate. For individuals looking into real estate in Miami, perhaps you’re wondering what the job market and business industry of Miami looks like? Here’s a snapshot of Miami’s top industries.
Aviation
Miami is one of the world’s busiest hubs for international travelers and cargo because of its strategic location. It provides a prime location for flight simulators and MRO (maintenance, repair, and operations) sites for many aviation companies. Customs in Miami has quite a task, with the 24-hour influx of high levels of international freight and goods through the airport systems.
Creative Design
Fashion and design may leave you thinking of New York and Los Angeles, but Miami is rising up and receiving international recognition in the creative design community. The city nourishes and attracts leading figures of film, fashion, architecture, engineering, advertising, graphic design, and marketing.
Hospitality, Tourism, and Real Estate
This is the obvious industry on our list. Everyone knows that the dynamic duo of tourism and hospitality is huge in Florida overall, Miami included. Real estate is its own booming industry as well, whether because individuals are looking for a retirement home or a suave business facility. What’s unique about this Florida city is how much other industries are integrated in their importance into the economic dynamics. Tourism is huge here, but it isn’t the only horse in the race.
Banking and Finance
Miami can boast being the financial capital of Latin America because it has the highest number of domestic and international banks on the East Coast, south of New York City. The cause is a combination of geography, immigration, and the result of Florida as a vacation home hotspot—but the financial sector of Miami attracts a high number of institutions from Europe, Latin America, and Canada.
Life Sciences and Healthcare
Miami can certainly boast in their medical facilities and strong healthcare facilities, some of which are highly research-based and innovative. They also have been a hub since the 1950s for major biomedical, medical device, and pharmaceutical companies. A few of the businesses in the industries in town are Beckman Coutler, BD Biosciences, Cordis (a branch of Johnson & Johnson), and Merck.
Trade and Logistics
This industry runs in tandem with the aviation, financial, and real estate industries in Florida. Goods and data from the international community are received and processed in Miami, and a strong multicultural workforce enables a strong trade and logistics economy here.
Overall, Miami is a pretty unique fish in the sea of economics compared to other major cities in the United States. It really does have a special place in the international community that benefits the entire United States in some defining ways.
