Miami Business Litigation & Dispute Attorney 

Miami, formally the City of Miami, is a coastal metropolis in southern Florida, located in Miami-Dade County.

It is the third most populated city on the East Coast of the United States, as well as the country’s seventh-largest. With almost 300 high-rises, including 55 that are above 491 feet tall, the city has the third-largest skyline in the United States (150 m).

Miami is a significant center and international trade leader in finance, commerce, culture, and the arts. With a GDP of $344.9 billion in 2017, the metro area is by far the largest in Florida and the 12th largest in the United States.

The Globalization and World Cities Research Network designated Miami as a Beta + level global city in 2020. In business activity, human capital, information interchange, cultural experience, and political participation.  Miami ranks sixth in the United States and 31st globally in 2019.

According to a 2018 UBS survey of 77 world cities, the city was placed third in the world in terms of purchasing power and second in the United States. With nearly 72.7 percent of the population of Hispanic and Latino heritage, Miami is known as the “Capital of Latin America.” It is also one of the greatest majority-minority cities in the United States.

Greater Downtown Miami is home to several significant national and international corporations and has one of the highest concentrations of foreign banks in the United States. The Health District, which includes Jackson Memorial Hospital and the University of Miami’s Leonard M. Miller School of Medicine, is a key hub for hospitals, clinics, and the biotechnology and medical research industries.

PortMiami, dubbed the “Cruise Capital of the World,” is the world’s busiest cruise port in terms of both passenger traffic and cruise lines. Miami is also a prominent international tourism destination, ranking second in the country behind New York City.

Miami Business Climate

Downtown is the financial, commercial, and international business center of South Florida. In the United States, Brickell Avenue has the highest concentration of multinational banks.

The high-rise buildings in Miami have sparked the public notion of “Miami Manhattanization.

Miami is a significant financial and commercial center with a thriving international corporate community. Miami, along with Atlanta, Dallas, and Houston, is ranked as a Beta + level world city in the Globalization and World Cities Research Network’s (GaWC) 2020 ranking of world cities based on the level of presence of global corporate service organizations. However, according to the US census from 2015 to 2019, Miami lacks in terms of owner-occupied housing.

Miami’s Gross Metropolitan Product (GMP) is $257 billion, placing it 11th in the United States and 20th globally.

Major Employers

Akerman LLP, Alienware, Arquitectonica, Brightstar Corporation, Celebrity Cruises, Carnival Corporation, Duany Plater-Zyberk, Greenberg Traurig, Inktel Direct, Lennar Corporation, Norwegian Cruise Line, Oceania Cruises, OPKO Health, Parkjockey, RCTV International, Royal Caribbean International, Sitel, Southern Wine & Spirits, Southern Wine & Spirits, Southern Wine & Spirits, Southern Wine & Spirit Miami is the headquarters of Latin American operations for over 1400 global businesses, including Walmart, due to its closeness to the region.

Benihana, Burger King, Carnival Cruise Line, Navarro Discount Pharmacies, Perry Ellis International, Ryder, Sedano’s, UniMás, and U.S. Century Bank are among the corporations based in adjacent cities or unincorporated areas of Miami-Dade County.

Miami Media Industry

Miami is a significant television production center and the most important Spanish-language media city in the United States. The headquarters of Telemundo and UniMás are located in Miami. Telenovelas, news, sports, and chat shows are among the original content produced by Univisión Studios and Telemundo Studios for their respective parent networks. In 2011, Telemundo filmed 85 percent of its original programs in Miami.

Miami is also a major music recording center, with Sony Music Latin’s headquarters and a slew of other smaller firms based there. Many musicians flock to the city for music, video, and film shoots.

Miami Real Estate Industry

The city’s largest real estate boom since the 1920s Florida land boom occurred in the mid-2000s, with well over a hundred authorized high-rise development projects. However, just 50 were constructed. Miami’s core neighborhoods experienced rapid population expansion as a result of rapid high-rise buildings, with Downtown, Brickell, and Edgewater becoming the city’s fastest-growing areas.

The city now possesses the state’s seven highest (as well as fifteen of the top twenty) buildings, the tallest being the 868-foot (265-meter) Panorama Tower.

Miami Logistics Sector

Miami International Airport (MIA) and PortMiami are two of the busiest ports of entry in the United States, particularly for freight from South America and the Caribbean. MIA is the busiest airport in Florida and the largest gateway between the United States and Latin America. PortMiami is the world’s busiest cruise port.

The Port of Miami, one of the largest ports in the United States, is located in Miami. It is known as the “Cruise Capital of the World” and the “Cargo Gateway of the Americas” because it is the world’s largest cruise ship port. For more than a decade, it has been the world’s top cruise/passenger port, handling the world’s largest cruise ships and major cruise lines. The port served 5,340,559 cruise passengers in 2017. The port is also one of the busiest cargo ports in the country, importing 9,162,340 tons of cargo in 2017. In terms of cargo tonnage imported from Latin America, it is second only to New Orleans’ Port of South Louisiana among North American ports. The port has seven-passenger terminals and is spread out on 518 acres (2 km2). China is the port’s most important source of imports and exports. Carnival Cruise Line, Celebrity Cruises, Norwegian Cruise Line, Oceania Cruises, and Royal Caribbean International are among the world’s largest cruise line headquarters. The Port of Miami Tunnel, which connects the MacArthur Causeway to PortMiami, opened in 2014.

Miami Financial Sector

The city boasts one of the highest concentrations of foreign banks in the country, mainly around Brickell Avenue in Brickell, Miami’s financial center, due to its strength in international commerce, finance, and trade.

Private banking, wealth management, and trade finance are key components of the financial sector in the region, attracting banks from Europe, Latin America, and Canada to serve individual, family, and company clientele. In keeping with the region’s economic vitality, Miami-domestic Dade’s banking sector is also booming.

 The largest financial services employers include;

• Assurant
• BankUnited
• BUPA
• Wells Fargo
• Bank of America
• Visa International
• Itau Private Bank

 Miami’s list of high-profile banking and financial services organizations continues to grow, with the biggest concentration of foreign banks in the United States and the second-largest financial center outside of New York City.

Universal Investments, Boston Private, I Squared Capital, Appaloosa Management, Everest Capital, Trivest, and HIG Capital are among the hedge funds, private equity firms, and other financial services organizations that have relocated to Miami-Dade. With more than 60 international banks, including Barclays, Banesco, BBVA, Bank of America Merrill Lynch, JPMorgan Chase, Northern Trust, Banco Santander, and Israel’s IDB Bank – which recently expanded its footprint in Aventura – Miami’s advantages as a global gateway drive its robust banking community.

 The Latin American Financial Center

In Miami-Dade County, banks and financial services corporations such as Visa and PayPal are investing. Miami-Dade is known as Latin America’s financial hub, with the highest concentration of local and international banks on the East Coast south of New York City.

Miami Convention and Tourism Industry

Tourism is one of Miami’s main private-sector businesses, accounting for more than 144,800 jobs in Miami-Dade County. The Royal Caribbean International headquarters are located at the Port of Miami.

The city and its landmarks have become internationally recognized as a result of its frequent depictions in music, cinema, and popular culture. It drew the second-highest number of foreign tourists of any US city in 2016, trailing only New York City, and is among the top 20 cities in the world in terms of international visitor spending. Roughly 2017, more than 15.9 million visitors came to Miami, bringing in $26.1 billion to the economy. Miami is a popular destination for annual meetings and conferences, thanks to its extensive hotel infrastructure and the newly rebuilt Miami Beach Convention Center.

South Beach, Lincoln Road, Bayside Marketplace, Downtown Miami, and Brickell City Centre are some of the most popular tourist spots in Miami. For its nightclubs, beaches, historical buildings, and shopping, Miami Beach’s Art Deco District is regarded as one of the most glamorous in the world. The Miami Open, Art Basel, the Winter Music Conference, the South Beach Wine and Food Festival, and Mercedes-Benz Fashion Week Miami all draw large crowds to the city each year.

Military & Weather HQ

The National Hurricane Center is located in Miami, as is the headquarters of the United States Southern Command, which is in charge of military operations in Central and South America. 

Miami’s Industrial Sector

Miami is also a major industrial hub, particularly in the stone quarrying and warehousing industries. These industries are primarily concentrated on the city’s western outskirts, near Doral and Hialeah.

The Good, The Bad & the Ugly

According to the United States Census Bureau, Miami had the fourth-highest percentage of families with earnings below the federal poverty line among all metropolitan cities in the country in 2012, trailing only Detroit, Michigan, Cleveland, Ohio, and Cincinnati, Ohio. In 2001, Miami was one of the few cities in the United States where the local government declared bankruptcy. Miami, on the other hand, has received recognition for its environmental policies: Forbes named it “America’s Cleanest City” in 2008, citing its year-round good air quality, huge open spaces, clean drinking water, clean streets, and citywide recycling initiatives.

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