Miami’s Housing Affordability Crisis: Six in 10 Employed Adult Residents are Housing Cost-BurdenedMiami faces a severe crisis of housing unaffordability, reinforcing the region’s high level of economic inequality, according to a new Miami Urban Future Initiative (MUFI) report, Miami’s Housing Affordability Crisis, authored by urbanist Richard Florida and Steven Pedigo.

In a data-driven report, Florida and Pedigo examine the scope of Miami’s housing affordability crisis: the ways it affects different class, racial, and ethnic groups, homeowners and renters, and other key dimensions of housing in Miami.

Miami is no stranger to housing challenges. The metro was among the hardest hit by the economic crisis of 2008. Thousands lost their homes, while thousands more lost significant amounts of equity in their properties,” explained Florida. “As housing prices rebounded, and even surpassed their pre-recession highs in many areas, wages and incomes have failed to keep pace. The result is a crisis of housing affordability that affects far too many Miamians.”

Read More on: Cision

WLRN Interview – Amazon, Shmamazon. Study Finds South Florida Can Build Its Own Mega-Corporations

It’s been over two months since South Florida found out it was no longer in the running to house Amazon’s second headquarters. In the end, the online retail giant decided on Northern Virgina and a section of Queens, New York called Long Island City.

A new report by Florida International University’s Miami Urban Future Initiative looks at how we managed to get on the coveted list in the first place. It also covers what South Florida needs to do to lure similar companies here — or, better still — grow our own.

Miami lost Amazon’s HQ2. Still, the area looks more attractive than ever, experts say

South Florida’s bid to attract Amazon’s HQ2 may have come up short when it came to landing the big prize. But in a panel discussion Tuesday, regional leaders said the bid process itself has galvanized the tri-county area to think and work more collaboratively.

“This process showed an extraordinary level of regional cooperation, done in a record amount of time,” said urbanist Richard Florida, who led the discussion of the panel, “What Did We Learn From Our Amazon Adventure.”

The panel, which drew about 80 attendees, was produced by the Miami Herald, the Downtown Development Authority and Florida International University’s Miami Future Urban Initiative, which Florida leads. It was hosted by the Miami-Dade Beacon Council.

Read More on: The Miami Herald

Study: Miami must ‘grow its own Amazons’ after losing HQ2 bid

Investments in Miami’s talent pool and startups are key to evolving the Greater Miami region into one that could one day be home to a cutting-edge company the size of Amazon.com.

That’s according to a new study by the Miami Urban Future Initiative (MUFI), a joint effort between advisory firm Creative Class Group and the Florida International University College of Communication, Architecture and the Arts (CARTA). Funded by the John S. and James L. Knight Foundation, the report aims to identify the region’s economic assets and how they can leveraged in the future.

Read More on: South Florida Business Journal

Miami After HQ2: Why And How The Region Must Grow Its Own Amazons

With Amazon’s search for its second headquarters or “HQ2” finally over, it’s time for Greater Miami to get back to the business of building its own economy, according to a new report issued by the Miami Urban Future Initiative (MUFI) at the FIU College of Communication, Architecture + The Arts.

In a data-driven report, MUFI researchers examine the foundation of the greater Miami economy and offer a series of recommendations for how the region can someday build its own Amazon-sized company.

Read More on: Cision

Miami-Dade’s next development boondoggles – a mega mall, a soccer stadium, Amazon HQ2?

Miami is at an inflection point. It is an aspiring global city, one that needs to build up its own economy — adding higher paying jobs and addressing yawning income inequality, continuing to build its innovation and startup cluster, and weaning itself off of imported capital and tourist dollars. Real strides are being made. But three recent economic development decisions threaten to push the city and the region back to the past.

Exhibit A: The American Dream Mega Mall: Earlier this year, the Miami-Dade Commission voted move ahead with this $4 billion-dollar mega-mall complex with more than six million square feet of retail, entertainment and backroom space, plus 2,000 hotel rooms.

Read More on: Miami Herald

Miami Ranks Among Most Globalized Cities In The Country

A new study from the Miami Urban Future Initiative focuses on providing evidence-based data on Miami’s evolution as a global city. Deep and international ties to Latin America is the biggest factor that make the city a “global” area, it says.

The study, “Benchmarking Miami’s Globalization,”gathered research on the number of immigrants with a college degree, foreign-born residents working in the “creative class” and the export-import ratio from airports to illustrate just how internationalized the city is.

Read More on: WLRN

Miami Goes Global – Long considered the gateway to Latin America, Miami takes steps to become a truly international city.

MIAMI — Johanna and Juha Mikkola personify Miami’s emerging economy: entrepreneurial, creative and shaped by cultures ranging from the Americas and the Caribbean, to Europe and Asia.

In less than five years, the Finnish couple has scaled up their tech education business with a little help from some new friends. They’ve completed a first capital raise – $1 million from Academic Work, a global Swedish staffing company with just a handful of U.S. partners.

The Swedes chose Wyncode, the Mikkolas’ company; they chose Miami. Millennials with a small child, the Mikkolas relocated from Toronto and left jobs in other sectors – corporate for her, retail for him – to live the good, beachy life and train computer coders in the artsy Wynwood neighborhood. They say cosmopolitan Toronto seems vanilla in comparison.

Read More on: US News

Miami Ranks First in the U.S. for Foreign Born Residents and International Cargo

Miami, FL – Miami ranks first among large U.S. metros for the share of its residents who are immigrants (41 percent of the population), placing the metro ahead of San Jose, L.A., and San Francisco, according to a new research brief from the FIU + CCG | Miami Urban Future Initiative (MUFI). The report also finds that Miami ranks first among large U.S. metros according to the amount of merchandise goods, commodities, and cargo that it transported internationally in 2016 ($1.5 million tons).

“With its enviable location, prominent international airport, and major port, Miami now serves as an economic and financial hub for Latin America and a gateway to Europe and the rest of the world,” explains Richard Florida, Visiting Fellow at the FIU Miami Urban Future Initiative. “Miami is quickly taking its position as a dominant global center, ranking among the top international cities in the world.”

Read More on: Florida Trend

Miami Ranks First in the U.S. for Foreign Born Residents and International Cargo

MIAMI, May 30, 2018 /PRNewswire/ — Miami ranks first among large U.S. metros for the share of its residents who are immigrants (41% of the population), placing the metro ahead of San Jose, L.A., and San Francisco, according to a new research brief from the FIU + CCG | Miami Urban Future Initiative (MUFI). The report also finds that Miami ranks first among large U.S. metros according to the amount of merchandise goods, commodities, and cargo that it transported internationally in 2016 ($1.5 million tons).

“With its enviable location, prominent international airport, and major port, Miami now serves as an economic hub for Latin America and a gateway to the rest of the world,” explains Richard Florida, Visiting Fellow at the FIU Miami Urban Future Initiative. “Miami is quickly taking its position as a dominant global center, ranking among the top international cities.”

Read More on: CISION PR Newswire

Miami’s growing tech scene tries to level up

Of all the changes taking place in Miami right now, one of the least appreciated may be the region’s growth as a technology hub.

For many who associate the city, and South Florida, with Art Deco architecture, sunny beaches, and tourism, Miami’s selection as one of Amazon’s 20 finalists cities for its HQ2 contest may have come as a surprise.

But there’s much more happening in Miami, and many in the local tech scene see the momentum increasing.

Read More on: CURBED

New Report By The Miami Urban Future Initiative: Miami Startups Receive $1.3 Billion in Venture Capital – 8th in the U.S. More than 9,700 High-Tech Businesses Call Miami Home

Miami, FL – Miami ranks eighth among large U.S. metros for the total amount of venture capital invested in its high-tech startups ($1.3 billion in 2016), according to a new research brief from the FIU + CCG | Miami Urban Future Initiative (MUFI). The brief also finds that Miami’s high-tech companies each earned an average of $14.2 million in venture capital investment in 2016—the second-highest share among large metros. Only San Francisco performed better on this metric, with an average investment of $17.7 million per high-tech company.

In its latest research report, “Benchmarking Miami’s Innovation and Entrepreneurship,” MUFI evaluates Miami’s entrepreneurship and startup ecosystem compared to 52 large U.S. metros with more than one million people.

Read More on: American Entrepreneurship

Miami’s Population and GDP Gains Outpace the National Average, While Its Business Growth Ranks Eighth in the U.S.

MIAMI, Feb. 22, 2018 /PRNewswire/ — With nearly six million residents, Miami’s population is growing 1.3% annually, while its employment base is increasing by 3.4% each year, according to a new research brief from the FIU + CCG | Miami Urban Future Initiative (MUFI). The brief also finds that Miami is home to 3.3 percent of U.S. traded-sector businesses (those that export goods and services to other regions and cities), ranking ahead of San Francisco, Philadelphia, and Washington, D.C.

In its latest research report, “Benchmarking Miami’s Growth and Competitiveness,” MUFI evaluates Miami’s growth and competitiveness compared to 52 large U.S. metros with more than one million people.

Miami ranks near the top for business growth, study says

Businesses in Miami are growing at one of the fastest rates in the country, according to a new study by the the Miami Urban Future Initiative.

Among all large U.S. metros, Miami ranked eighth in annual business establishment growth between 2010 and 2015, at 2 percent – more than double the national average, the study said.

But, despite the positive outlook for business, the Magic City still lags when it comes to employees’ income. Miami ranked 42nd in income growth, at an annual rate of just 1.3 percent during the same time period.

The study by the Miami Urban Future Initiative – a joint initiative of Florida International University and Creative Class Group – was presented Thursday at an event hosted by the Miami-Dade Beacon Council. The event, Miami and the New Localism, discussed the source of Miami’s economic advantage.

Read More on: South Florida Business Journal

As Art Revitalizes Urban Neighborhoods, Maintaining Affordability Remains a Challenge

The notion that an active cultural milieu can have a broad-ranging economic impact is certainly not a novel concept for most real estate developers. But Miami’s rapid and sustained growth due to its significant investment in cultural development is perhaps one of the more successful case studies on the concept.

In February, ULI Southeast Florida/Caribbean gathered a panel of researchers, real estate developers, and economic development agencies at the new Arts & Entertainment District—the latest neighborhood to emerge as a cultural destination for city residents—to address these persistent challenges and offer some solutions for driving more inclusive development by attracting a creative class.

Read More on: Urban Land

Miami wants to be a creative hub. Here’s what might keep that from happening.

Miami may be staking its future on its creative labor pool — the well-educated arts, media, legal, healthcare and financial workers that many experts say drive U.S. economic growth. But it turns out that here, the pay’s not so good.

The median annual wage for creatives in the Miami metro area is a relatively measly $54,000, a far cry from the $97,000 creatives earn in the U.S. innovation capital of Silicon Valley. That’s according to a new report by the joint FIU-Miami Creative City Initiative of Florida International University and urbanist Richard Florida’s Creative Class Group think tank.

Read More on: Miami Herald

Miami’s Creative Workforce Ranks 11th Among Large U.S. Metros

With nearly a million creative class workers, Miami’s creative workforce ranks 11th among large U.S. metros in terms of overall size. But, the metro ranks further behind according to its share of creative workers, according to a new research brief from the FIU + CCG | Miami Urban Future Initiative (MUFI).

In its latest research report, “Benchmarking Miami’s Talent Base,” MUFI evaluates Miami’s human capital assets compared to 52 large U.S. metros with more than one million people. Supported by the John S. and James L. Knight Foundation, the report specifically examines Miami’s creative workforce, educational attainment levels, and share of students, faculty, and college and university graduates.

Read More on: PR Newswire

Miami’s Urban Future

The FIU | Miami Urban Future Initiative released a new report Miami’s New Urban Crisisby Richard Florida, author of The New Urban Crisis and Visiting FIU Fellow and Steven Pedigo, Research Director. The report showcases the economic and urban development challenges facing Miami and how the region can become more inclusive.

“Like Miami’s urban revival, the shift toward inclusive prosperity will not take place overnight,” explains Florida. “It begins with local leaders viewing equity and economic development as a mutual goal and continues with a new strategy for a fuller, fairer, and more prosperous urbanism-for-all.”

Read More on: The Huffington Post

The Super City of Miami

Miami can now also be considered a super city at the same level as metropolises such as New York City, Los Angeles, London or Tokyo, according to to Richard Florida, an urban studies theorist.

Florida categorizes Miami’s emergence as one of the world’s greatest cities due to its economy, the increase in population and its role as the hub of Latin-American and Caribbean commerce.

With Miami’s current prominence, the city needs to reconcile its growth with the many inherent problems of gentrification, low wages and transportation. Florida’s collaboration with Miami Urban Initiative aims to raise the awareness about the need of more inclusive prosperity in Miami, as well as increasing wages in the service industries and the need for more affordable housing.

Read More on: WLRN

Miami Urban Future Initiative Research Report: Miami Ranks 6th Among Large U.S. Metros on the New Urban Crisis Index

MIAMI, Dec. 7, 2017 /PRNewswire/ — Miami faces growing challenges of inclusion and affordability. According to a new analysis by the FIU | Miami Urban Future Initiative, the Miami metropolitan area ranks sixth among large U.S. metros on the New Urban Crisis Index, a composite measure of economic inequality, economic segregation, and housing unaffordability.

The Miami Urban Future Initiative is a joint effort between the Creative Class Group and Florida International University’s College of Communication, Architecture + The Arts (CARTA), funded by the John S. and James L. Knight Foundation, to develop new research for building a stronger and more inclusive economy in Miami.

Read More on: PR Newswire Source | Markets Insider Source | KUSI News Source

‘To What Degree Is Our Growth Inclusive?:’ New Group Aims To Push South Florida Equity Conversation

Equity is a growing focus in South Florida, as communities try to address problems like high housing costs and a car-centered transportation system that excludes some public transit users.

A new organization is hoping to spur even more conversations about how to resolve some of those problems.

It’s called the Miami Urban Future Initiative and its goal is to bring together researchers, business leaders, officials and activists on critical equity issues that accompany South Florida’s ongoing growth.

Read more HERE

Miami Urban Future Initiative led by FIU receives $1.2 million from Knight Foundation

To support the growth of Miami’s innovation ecosystem, the John S. and James L. Knight Foundation today announced $1.2 million in new support to the Miami Urban Future Initiative, a joint project of FIU’s College of Communication, Architecture + The Arts (FIU CARTA) and the Creative Class Group at Mana Wynwood. The initiative aims to create insights and strategy for growing a stronger, more innovative and more inclusive economy for the Miami region spanning Miami-Dade, Broward and Palm Beach counties.

Read more HERE

Knight Foundation grants $1.2M to new urban research organization

The Knight Foundation has awarded $1.2 million to support a research initiative that aims to provide information on South Florida’s economic, entrepreneurial, creative and technological assets and provide ideas for growth.

The Miami Urban Future Initiative will be a partnership between Florida International University’s College of Communications, Architecture + The Arts and think thank Creative Class Group. It aims to combine the knowledge of FIU experts and researchers with that of business leaders, economic development professionals and other academics to create strategy for strengthening and growing an innovation economy in the tri-county region.

Read more HERE

Knight, FIU, Creative Class Group team up to expand innovation research

Knight, FIU, Creative Class Group team up to expand innovation research. The John S. and James L. Knight Foundation on Wednesday announced a grant of $1.2 million for the Miami Urban Future Initiative, a joint project of FIU’s College of Communication, Architecture + The Arts and the Creative Class Group. The Miami Urban Future Initiative aims to fill an existing research gap on economic, entrepreneurial, creative and technological assets in the region spanning Miami-Dade, Broward and Palm Beach counties.

Read more HERE

Funding will support a joint research initiative of FIU’s College of Communication, Architecture + The Arts and the Creative Class Group founded by urbanist Richard Florida

MIAMI – April 5, 2017 – To support the growth of Miami’s innovation ecosystem, the John S. and James L. Knight Foundation today announced $1.2 million in new support to the Miami Urban Future Initiative, a joint project of FIU’s College of Communication, Architecture + The Arts (FIU CARTA) and the Creative Class Group at Mana Wynwood. The initiative aims to create insights and strategy for growing a stronger, more innovative and more inclusive economy for the Miami region spanning Miami-Dade, Broward and Palm Beach counties.

Read more HERE

How the Creative Class Group and FIU’s College of Communication, Architecture + The Arts will work to improve Miami’s urban future at Mana Wynwood.

Miami has been on a roll. It is attracting people at a rapid clip, it is a center of arts, culture and design, and its entrepreneurial ecosystem is growing. Today the region is at a critical inflection point. How can it grow further? How can it deepen its startup ecology? How can it ensure that its growth is inclusive, and that all Miamians can share in a new era of more inclusive prosperity?
Read more HERE

Tech startup tech entrepreneurs work at Venture Hive in downtown Miami. Venture Hive is an entrepreneurial education center, one of many resources in South Florida. Miami Herald File

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Team members of EveryMundo, a Miami technology company, display their message in Bayfront Park near their offices in downtown Miami. The marketing technology company serving the travel and hospitality industry has about 57 full-time employees in Miami and 37 of them were born outside the United States, said CEO Anton Diego. EveryMundo

Read more HERE

Although Miami is largely a service economy, the region’s talent base in the professional and creative industries is the 11th largest in the nation, according to the latest report from the joint FIU-Miami Creative City Initiative of Florida International University and the Creative Class Group think tank. Still, the share of Creative Class workers is just 26 percent of the region’s employment, ranking it 47th out of the 53 largest metros in the United States. Miami Herald File

Read more HERE

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