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manufacturing within these advanced industry sectors- those
characterized by high levels of research & development technology and
Science, Technology, Engineering & Math (STEM) workers- pay high
wages. The average annual wage for an employee in medical and
surgical instrument manufacturing is nearly $135,000 in Miami-Dade
County. A 2021 Study by the Florida Department of Economic
Opportunity reports that employment in the manufacturing industry
is concentrated in the southeast, central, and northeast parts of the
state. In 2020, Miami-Dade manufacturing employment totaled over
41,000 jobs. Orange and Pinellas counties contributed over 30,000 jobs
each, with Broward, Palm Beach, Hillsborough, Brevard, and Duval
counties contributing over 20,000 jobs each. These seven counties
accounted for 63.9% of Florida manufacturing jobs.116
Make It Miami, a report on South Florida’s manufacturing sector in
2019 found that most manufacturing employees earn above the median
earnings for Miami-Dade County overall, and more than one-third of
Miami’s manufacturing firms are within the advanced manufacturing
industry sector. In the report, which included results from a
manufacturing survey, it found that Miami manufacturers have a
positive outlook and were pleased with their access to international
markets and quality of life. However, most businesses perceived the
cost of commercial and industrial sites, poor transportation
infrastructure, the lack of an adequately educated workforce and the
lack of business incentives to be negative factors. In fact, 46.1% have
considered relocating.117
Marine Industries
The region’s location adjacent to the stunning Caribbean waters makes
it a natural location for boating. The marine industries are tied to the
hospitality and tourism cluster but also serve area residents. In 2022
The Discover Boating Miami International Boat Show generated more
than $955.6 million in economic impact throughout the state of Florida,
created over 5,000 jobs, and with more than 100,000 visitors over the
five-day event.
Similarly, the 2021 Fort Lauderdale International Boat Show, the
largest in-water boat show in the world, contributed $1.79 billion to
Florida’s economy with $899 million in direct sales over the 5 days of
the show.118 The Island Boat Show in the Florida Keys, the “Sport
Fishing Capital of the World”, also attracts national and international
visitors. Fort Lauderdale is often referred to as “the Yachting Capital
of the World” and/or “the Venice of the America’s” because of the
large number of recreational boats and canals in Broward.
Fort Lauderdale Boat Show / Courtesy of the Greater Fort Lauderdale / Broward
County Convention Center
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The Marine Industries Association of South Florida reports the marine
industries has a regional economic impact of $12.5 billion with $9.7
billion impact in Broward County. The Marine Industry Economic
Cluster provides 149,000 jobs regionally with 121,000 middle class jobs
in Broward County.119 The robust demand for purchasing boats
through the region generates demand for parts, marinas, boat building,
etc.
Ports & Airports Infrastructure
The airports and seaports are critical components of the regional
economy, supporting domestic and international trade. The South
Florida region is served by three major international airports, an
additional international airport in Marathon, and two major seaports.
The Fort Lauderdale-Hollywood Airport (FLL) and the Miami
International Airport (MIA) are the largest airports serving the Miami
Metropolitan Area. Both airports welcome millions of international
visitors per year. Much of the cargo entering the South Florida region
is transported by sea through the Port of Miami and Port Everglades.
The location quotient of 4.31 for boat dealers demonstrates the region
as an industry that has a concentration of 4.31 times greater than the
national average and the transportation equipment and supplies,
except for motor vehicles, has a concentration of 7.69 times greater than
the national average. The marine industries are a unique industry in
which South Florida has a strong presence. The wages for employees
in these industries vary, but average annual wages, particularly for
boat dealers, have generous salaries with average annual wages
ranging from $58,225 to $120,493 depending on the county.
MIA receives 70% of all international passengers in Florida and is
America’s third-busiest airport for international passengers. The
airport offers more flights to Latin America and the Caribbean than any
other U.S. airport. In 2019, MIA had nearly 46 million passengers and
was the top U.S. airport for international freight. It is projected that by
2040, MIA will serve 77 million travelers and more than 4 million tons
of freight. To accommodate the airport’s continued anticipated growth,
the Miami-Dade County Commission adopted a new capital
improvement program at MIA that will fund up to $5 billion in airportwide modernization projects. It is anticipated that the slate of projects
over the course of the next 15 years.120 Additionally, the Miami area
has three smaller general aviation and executive airports. MIA and the
county’s general aviation airport’s annual economic impact is $33.7
billion, contributing 275,708 jobs directly and indirectly to the local
economy.121 MIA alone handles 80.7 percent of all goods arriving to or
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leaving from Florida, positioning itself among the most important
airports in the country for air cargo. The airport specializes in handling
perishable goods like fish, fruits, vegetables, and flowers, which
represent almost three quarters of MIA’s air cargo imports. MIA
processes more cut flowers than any other airport in the U.S.,
accounting for about 85 percent of all flowers imported to the country.
Broward County / Fort Lauderdale is unique in that its infrastructure
features not only the Fort Lauderdale / Hollywood International
Airport but also a deep-water seaport with short canals at Port
Everglades with proximity to the Florida East Coast (FEC) and CSX
railroads and I-95 making intermodal transportation a pillar of
Broward County’s economy.
Fort Lauderdale-Hollywood International Airport (FLL) is the fastest
growing large hub airport in the United States. To accommodate its
continued growth, FLL is undertaking a $3.2 billion capital