Norwegian Cruise Line_OM_C&W Miami FINAL RSF

Macro Economic Overview South Florida Economy The South Florida MSA is anchored by three major cities – Miami, Fort Lauderdale, and West Palm Beach. The region has global importance and connectivity and is seen as the “Gateway to Latin America.” With the growth of the region, the MSA is now ranked as the 7th largest MSA in the United States and has grown by almost 50% over the last 25 years. South Florida’s trajectory is promising and is seen as America’s MSA of the future. With this expectation, the region continues to invest billions and billions of dollars into creating world-class infrastructure through airport, port, rail, and road expansion. Paired with an advantageous tax structure, the business community has taken note with an improving and diversifying employment base.

Miami-Dade Economy Miami is quickly becoming a world-class city that some have dubbed the Manhattan of the South. The city has long been considered the Gateway to Latin America within the U.S. Many overseas companies use the Miami area as their base for U.S. operations. More than 1,200 multinational companies have been lured to the area over the past 25 years, thanks in part to the multilingual workforce. With Florida’s relatively low taxes, including no state income tax, and diverse workforce, Miami-Dade and the region are becoming more attractive to companies seeking year-round sunshine and a lower cost of living. A combination of other factors ranging from advantageous currency exchange rates to economic and political stability have contributed to a new flood of international investors in the market. Defined by the Wall Street Journal as “The New Global City,” Miami continues to appeal to young professionals who are pursuing true urban lifestyles in a tropical waterfront city. It continues to evolve into a major world class city and an epicenter of business. Miami has had a long history of having unmatched accessibility and international infrastructure with world class facilities. Thus, this megaregion has become a center for international trade for the Americas.

MIAMI DADE FACTS Global Business Hub: » #2 international banking center in US » 1,000+ multinational companies » #2 Foreign Consulates and Trade Offices in US » #1 Container Port in Florida (Port Miami) » #1 Cruise Terminal » #2 in US for International Passengers (MIA) » #1 in US for Tons of Int’l Freight (MIA) Talent Pipeline: » 250,000+ College Students » 2 Research Universities » 4th Largest School District in US Innovation Economy: » #1 Startup Activity in US


» 5,400 People Move into the South Florida MSA every Month » Gateway to Latin America » America’s Metro of the Future

12.1% 5-Year Projected Cumulative Job Growth

139,400 5-Year Job Projections

5.6% MSA Unemployment Rate


Moody’s Analytics, December 2020

Moody’s Analytics, December 2020

Bureau of Labor Statstics, July 2021

» Fastest growing state for first time since 1957 with population increasing 1.9% to 22.6M » 14th largest Global Economy if Florida were a country » #1 State in new high-tech establishments » 4th best Tax climate in the US – No personal income Tax

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