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Nationally, the employment of healthcare occupations is projected to
grow 19 percent from 2014 to 2024. Healthcare-related occupations are
expected to add more jobs than any other group of occupations. This
growth is expected due to an aging population, as well as an increase
of individuals who have gained access to health insurance.108
Since the 1950s, Miami-Dade’s entrepreneurial climate has nurtured
successful biomedical, medical device and pharmaceutical companies.
Today, Miami-Dade is home to industry leaders such as Beckman
Coulter, BD Biosciences, Cordis (a Johnson & Johnson Company) and
Merck. A major new asset for the region is the University of Miami’s
Life Science Park, a catalyst that will bring faculty, scientists, students,
and entrepreneurs together to encourage collaboration and innovation.
Located in Miami’s Health District, which includes the University’s
Miller School of Medicine, six hospitals and numerous specialty care
centers, the park will eventually encompass up to 2 million square feet
dedicated to supporting this sector. Florida International University’s
College of Medicine and Biomedical Engineering program, as well as
Miami Dade College’s life science education programs contribute to the
region’s workforce and research capabilities.109
Nova Southeastern University in Broward County has a Health
Professions Division that is leading the university and region to new
levels of excellence. The division boasts eight colleges – allopathic
medicine, osteopathic medicine, pharmacy, optometry, medical
sciences, dental medicine, health care sciences, and nursing – and more
than 60 degree and certificate programs.
The Alan B. Levan | NSU Broward Center of Innovation, is a publicprivate partnership between Nova Southeastern University and
Broward County acting as an economic and education development
engine linking the South Florida Innovation ecosystem. The Center is
works closely with its research partners, particularly in Life Sciences &
Healthcare and the Blue Economy, to commercialize their discoveries
and support new business development and investment.
Nova Southeastern University, Broward County
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Hospitality & Tourism
Hospitality and Tourism have been anchors of the South Florida
economy dating back to the early 1900s, but after WWII the industry
grew exponentially and quickly became the State’s biggest source of
income.110 Warm weather, beaches, and an expansive coral reef system
– the only living coral barrier reef in the continental U.S. and third
largest in the world – make it a top destination for travelers. Beyond
its natural wonders, South Florida has developed a reputation as a
cosmopolitan, cultural destination. The region offers unique culinary
experiences, well known for its Latin and Caribbean influences with
fresh seafood. Additionally, events such as Art Basel have elevated
Miami’s recognition as an arts and culture center and brought
numerous people to South Florida in search of art. In 2018, more than
83,000 people attended Art Basel.111 Festivals, conferences, and expos
suffered greatly with the shutdown from the COVID-19 pandemic that
occurred in 2020 and while many events have begun to return,
attendance has been diminished and organizations have struggled.112
The cruise industry is a significant component of the hospitality and
tourism cluster in South Florida. In fact, Port Miami and Port
Everglades are two of three largest cruise ports in the World. Before
the pandemic Port Miami welcomed 6.8 million cruise passengers113
and Port Everglades typically hosts nearly 4 million passengers
annually.114 The port in Key West is the only cruise port to function
solely as a port of call and contributes $85 million in economic benefits,
1,250 local jobs, and 15% of the City’s local tax revenue.115
South Florida is the region of choice for some of the largest cruise
company headquarters in the world. Carnival, Royal Caribbean, and
Norwegian Cruise Lines are based in Miami-Dade County with
Broward County hosting Virgin Voyages and American Queen
Voyages.
The pandemic devastated the cruise industry with no cruises occurring
for approximately 15 months. It was not until the end of June 2021 that
cruises resumed in Port Everglades and the beginning of July 2021
when Port Miami reinstated cruises. The strength and uniqueness of
this industry is captured in its off the charts location quotient of 50.57
for deep sea passenger transportation, a score far exceeding any other
industry within the hospitality and tourism sector, signifying the
region’s dominance in this area.
There is an abundance of jobs within the hospitality and tourism sector,
but many of the jobs are low wage jobs. Among the three counties there
are over 85,000 full-service restaurant jobs, but the average annual
wages for these jobs is low ranging from $31,569 to $39,300. It is
challenging for these workers to afford the high cost of living in South
Florida. Some jobs within this industry, particularly those within deep
sea passenger transportation (also known as the cruise industry) pay
significantly more with average annual wages ranging from $61,452 to
$104,854. There tri-county region showing more than 7,500 of jobs
within this industry, with most of these jobs located in Miami-Dade
County.
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Christ of the
Abyss,Key Largo
Vizcaya Museum &
Gardens, City of Miami
Bill Baggs Cape Florida State Park Hemmingway House, Key
West
Carrie B Tours, Fort
Lauderdale
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Manufacturing
While South Florida’s manufacturing sector is not a top employer (only
3% of jobs among the tri-county region are within manufacturing), it is
a major contributor of output and has strong linkages to other
important industry sectors. For example, many of the advanced
manufacturing jobs produce medical devices or aircraft engine parts
bolstering the life sciences and aviation industries. Furthermore,