Sand, sun and international flavor, plus mid-winter temps right at 70 degrees. No personal income tax, very low corporate tax. Those kinds of incentives have driven Miami to several million inhabitants and tens of billions in county-wide business receipts.
It's no retirement haven anymore, but the challenges of coming here are not to be taken lightly. Here's a guide with a dose or two of the reality of life on the beach.
Dig up the numbers
Miami-Dade is a large place, and you'll need to be clear on where you might locate and the challenges or opportunities represented by each.
I recommend: Get started with the Census Bureau's
quick facts page on Miami Dade. Then drill down wih the bureau's
American Community Survey, weather history from
CityRating and figures from the
Bureau of Labor Statistics and plenty more, like housing and crime rates, from
Housing and Urban Development.
Why Miami-Dade? Glad you asked
The county economic development agency, the Beacon Council, is a who's who of local and national business leaders and a great resource for learning more about the business climate.
I recommend: Specifically, see the council's page on
tax incentives and consider ordering its
printed guide to doing business in Miami. For quality of life, see how the area stacks up in
Money magazine's annual cities-rated poll. Like many major metro areas of the United States, Miami has experienced a surge in home prices only now abating. Take cost-comparison data online with a grain of salt.
Getting started
You'll need permits and to bone up on taxes to make a fair comparison of the actual cost of starting up or relocating to Miami.
I recommend: Miami-Dade county government spells out business taxes clearly on its business Web site. The state's
MyFlorida site helps with your obligations in terms of labor, environment, taxes and incentives to come to Florida.
Find suppliers, partners or clients
There are hundreds of companies in the greater Miami area. Many of them are large companies but the Miami office is often small, dealing with Latin America, Hispanic USA or both.
I recommend: The Greater Miami Chamber of Commerce makes its
membership directory public, and county government keeps a
links list to many chambers and trade associations.
WorldCity, a trade publication, publishes an extensive guide to multinationals in the area and offers online access for a fee.
Get advice from local experts
Statistics can be bedeviling, and outdated. For a good grip on who matters and what issues concern local business leaders now, follow the active and professional Miami business press.
I recommend: Florida Trend, a statewide business magazine, maintains a site just for small business owners in the state. Some key business columnists from
The Miami Herald include Cindy Krischer Goodman and Bea Garcia.
The South Florida Business Journal covers companies closely.