The buzz as of late is Miami making the short list of US cities vying for the coveted home to Amazon’s second headquarters, but is Miami really a contender? Let’s consider the basic factors the corporate giant is looking for?
-International airport? Check with M.I.A. and Ft. Lauderdale International.
-1MM people? I think we’ve got that covered with Miami reaching almost 3MM.
-Incentives? Not yet, as Miami has not offered any subsidies.
-Educated workforce? Not quite with most of the talent in South Florida fleeing to other cities for better paying jobs.
-Low cost of living? Definitely not here as many have traded in sunshine for lower cost of living in other places across the U.S.
Based on those factors alone I’m not sure that Miami will be the next home for Amazon, but this exercise certainly highlights issues the city’s been struggling within for quite some time and it starts with something very basic…housing. If housing is too expensive people will leave, and if people leave the corporations won’t come, and if the corporations won’t come than the jobs will go elsewhere and thus is the perpetual cycle that Miami faces. With less available land and growing concerns over sea level rise resiliency it’s no wonder politicians aren’t pulling any stops in trying to lure business to Miami. Sure it’s the portal to Latin America, but other cities on the Eastern seaboard can get there too. Recently in the South Florida Business Review, there was mention of port hubs seeing incredible amounts of demand thus catapulting the already hot industrial market.
While Miami would be the nostalgic win with Bezos coming back to his hometown romance and novelty usually don’t have a place in the corporate rat race.