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Old 01-16-2014, 10:14 AM
 
Location: Denver
6,625 posts, read 14,459,637 times
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Quote:
Originally Posted by canefandynasty View Post
Imagine if Miamis economy was on par with Houston, its world class position would be a notch above those cities. I think cities like Houston and Dallas have maximized their potential while Miami hasnt even scratched the surface. Miami though is evonomically underacheiving, is still a alpha city. Houston and Dallas have much greater economies yet are still beta cities. Not much room for improvement.
I don't see Miami becoming an economic powerhouse anytime soon. I think it'll remain a hub for Latin American US HQs, but not much more. Florida in general has poor education at all levels, so that doesn't bode well for its future prospects. I wouldn't be surprised if Miami was able to attract a good amount of transplants, but I think it would be mostly service-level jobs, like Atlanta and Phoenix.

People go to Miami for fun & sun, not to work.
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Old 01-16-2014, 10:38 AM
 
Location: Boston Metrowest (via the Philly area)
7,270 posts, read 10,598,621 times
Reputation: 8823
Quote:
Originally Posted by tmac9wr View Post
I don't see Miami becoming an economic powerhouse anytime soon. I think it'll remain a hub for Latin American US HQs, but not much more. Florida in general has poor education at all levels, so that doesn't bode well for its future prospects. I wouldn't be surprised if Miami was able to attract a good amount of transplants, but I think it would be mostly service-level jobs, like Atlanta and Phoenix.

People go to Miami for fun & sun, not to work.
My thoughts exactly. Miami needs a MUCH more diverse economy before it could be considered in the same vain as other major cities. Yes, it attracts an impressive amount of wealth in terms of tourism and real estate, but it's not a city that currently has a strong production economy (which is especially underscored when a recession hits).
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Old 01-16-2014, 10:57 AM
 
Location: San Francisco
2,079 posts, read 6,115,292 times
Reputation: 934
Quote:
Originally Posted by tmac9wr View Post
I don't see Miami becoming an economic powerhouse anytime soon. I think it'll remain a hub for Latin American US HQs, but not much more. Florida in general has poor education at all levels, so that doesn't bode well for its future prospects. I wouldn't be surprised if Miami was able to attract a good amount of transplants, but I think it would be mostly service-level jobs, like Atlanta and Phoenix.

People go to Miami for fun & sun, not to work.
Service economies are thus far the most advanced economies, so I don't get your point about service-level jobs. The financial sector, legal industry, and other high-income, high education sectors all provide services, rather than goods.

Second of all, Atlanta's and Phoenix's economies are only linked through housing/real estate and former uncontrollable population growth. Aside from that, Atlanta is actually one of the most educated and highly paid metros in the country, even whilst residing in the South. I think you forget that it has a university base that even the TX cities can't compete with: Georgia Tech and Emory, not to forget Georgia State, UGA (45 minutes away with B-School in the city), SCAD, the black Ivy's, and others.

There is a reason that so many companies are HQ'd in Atlanta (and not in Phoenix for instance), and that while housing/construction got carried away in the metro mainly due to runaway and uncontrolled growth in the burbs, the economy will always [u]be ok[/b].

I think perhaps you mean "service industry" type jobs. Hospitality, restaurants, nightlife, tourism, entertainment. That's much of FL in a nutshell, mainly and especially including Miami/SoFla. There is a difference. A partner at a silk stocking law firm is in the service sector, providing a service to clients and all, but is not in the "service industry".

And Greenberg Traurig is HQ'd in Miami (speaking of big name firms...it's really the only one born out of the city, though Miami is on the hit list of offices that top law firms must keep).
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Old 01-16-2014, 11:00 AM
 
14,256 posts, read 26,946,158 times
Reputation: 4565
Quote:
Originally Posted by kidd_funkadelic View Post
Wow, I'm utterly disgusted at every Miami poster at the moment. Miami is not that damn important. If the US government made a list of most important cities to the well being of our country and preserving the ideal of our union Miami would be a solid 11 or 12 right ahead or behind Seattle
Utterly disgusted? Chillout.lol. Folks have already sliced and diced the validity of the link, and the OP(who is probably a troll) will be called out on it.
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Old 01-16-2014, 11:05 AM
 
8,289 posts, read 13,564,801 times
Reputation: 5018
Quote:
Originally Posted by tmac9wr View Post
I don't see Miami becoming an economic powerhouse anytime soon. I think it'll remain a hub for Latin American US HQs, but not much more. Florida in general has poor education at all levels, so that doesn't bode well for its future prospects. I wouldn't be surprised if Miami was able to attract a good amount of transplants, but I think it would be mostly service-level jobs, like Atlanta and Phoenix.

People go to Miami for fun & sun, not to work.
The fact that it is a "hub" for US Latin American HQ's is "significant" though or do you just want to discard that fact?
Miami is no" Phoenix" or "Atlanta" either which if either of these cities disappeared from the face of the Earth we wouldn't be missing them.
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Old 01-16-2014, 11:07 AM
 
14,256 posts, read 26,946,158 times
Reputation: 4565
Either way, Miami's a solid Alpha -, and it's metro is almost the same size as Philly's. So I wouldn't be surprised if Miami is on Philly's tail. DESPITE what your "Ideal of what should represent America" is. I think Miami would at least make the top 10(maybe 9 or 10) on that list.
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Old 01-16-2014, 11:07 AM
 
572 posts, read 708,939 times
Reputation: 157
Quote:
Originally Posted by FlyMIA View Post
LA county in 1890: 101,000
Miami-Dade in 1890: 861

LA County in 1900: 170,000
Miami-Dade in 1900: 5,000

LA County in 1950: 4,150,000
Miami-Dade in 1950: 495,000

LA County in 1970: 7,040,000
Miami-Dade in 1970: 1,260,000

LA County in 2000: 9,500,000
Miami-Dade in 2000:2,250,000

LA County in 2010: 9,810,000
Miami-Dade in 2010: 2,496,000

LA's growth has been very impressive but it certainly was not nothing in at the turn of the century 1890s-1900s.
I still consider it's rise better, just for the fact it's gone up to 18 million compared to Miami's 6 though.
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Old 01-16-2014, 11:31 AM
 
Location: Denver
6,625 posts, read 14,459,637 times
Reputation: 4201
Quote:
Originally Posted by jsimms3 View Post
Service economies are thus far the most advanced economies, so I don't get your point about service-level jobs. The financial sector, legal industry, and other high-income, high education sectors all provide services, rather than goods.

Second of all, Atlanta's and Phoenix's economies are only linked through housing/real estate and former uncontrollable population growth. Aside from that, Atlanta is actually one of the most educated and highly paid metros in the country, even whilst residing in the South. I think you forget that it has a university base that even the TX cities can't compete with: Georgia Tech and Emory, not to forget Georgia State, UGA (45 minutes away with B-School in the city), SCAD, the black Ivy's, and others.

There is a reason that so many companies are HQ'd in Atlanta (and not in Phoenix for instance), and that while housing/construction got carried away in the metro mainly due to runaway and uncontrolled growth in the burbs, the economy will always [u]be ok[/b].

I think perhaps you mean "service industry" type jobs. Hospitality, restaurants, nightlife, tourism, entertainment. That's much of FL in a nutshell, mainly and especially including Miami/SoFla. There is a difference. A partner at a silk stocking law firm is in the service sector, providing a service to clients and all, but is not in the "service industry".

And Greenberg Traurig is HQ'd in Miami (speaking of big name firms...it's really the only one born out of the city, though Miami is on the hit list of offices that top law firms must keep).
By service-level, I wasn't meaning industries which provide services. I also wasn't referring to the hospitality sector either.

What I meant was the mid-level positions of larger companies. An example is Fidelity Investments, whose headquarters & major operations are in Boston, but have a large number of "service-level" positions in North Carolina. A majority of Merrill Lynch's big boys still work in Manhattan, but they have massive offices in Pennington, NJ, which is where many service level positions are located. Don't take this as a slight to those cities or those types of positions. They're very good jobs and can provide very, very, very good livings. However they're unfortunately also normally the first types of positions to be cut or face hiring freezes when there are recessions.

Atlanta has much better higher education options than a city like Miami. I didn't mean to make it sound like I was putting down the city in that regard. It does probably have the best higher education options in the South. However I'm not sure I'd put it in the "elite" level overall, since as of 2010 it was #16 & #31 in Bachelor & Graduate degree attainment among American metropolitan areas (Source).
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Old 01-16-2014, 11:42 AM
 
Location: Denver
6,625 posts, read 14,459,637 times
Reputation: 4201
Quote:
Originally Posted by MiamiRob View Post
The fact that it is a "hub" for US Latin American HQ's is "significant" though or do you just want to discard that fact?
Miami is no" Phoenix" or "Atlanta" either which if either of these cities disappeared from the face of the Earth we wouldn't be missing them.
It's significant for sure. However I don't think this is necessarily going to bring Miami's economy to the next level.

In all fairness, with the exception of Miami Beach, if Miami disappeared from the face of the earth we wouldn't be missing it either.
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Old 01-16-2014, 12:03 PM
 
Location: Denver
6,625 posts, read 14,459,637 times
Reputation: 4201
Quote:
Originally Posted by MiamiRob View Post
I really don't see a comparison here. Philly is not a "global" city like Miami is. It basically stands in the shadows of NYC and similar to Boston.
They are "regional powerhouses".
Philly isn't a global city socially, but economically it is I believe.

You seem to talk down on Boston & Philly yet both are far far more important than Miami economically. It's an enormous stretch to call Boston a "regional" city given the international connection of its universities and a huge amount of foreign companies operating in the area, and the foreign operations of its largest companies. Philadelphia has a local feel socially, but their economy has a great deal of global connections due to the amount of international pharmaceutical companies operating in the area.

The GAWC puts a great deal of emphasis on "social" connections, which Miami obviously has a great deal of with Latin American countries, giving it a big boost in this ranking.

Quote:
Originally Posted by 599MIA View Post
Miami is the new #2 city in the US. Wealth report says NY and Miami are the most important US cities.
Yeaaaaaa, Miami isn't even close to the second most important city in the US. It might be top 10.

Quote:
Originally Posted by 599MIA View Post
Miami is the world capital for South American banks.
That's just wrong. São Paulo is the clear answer there. The three largest banks in South America are all in Brasil, and all based out of São Paulo. It might be the US capital for South American banks, but New York may have a greater connection. Heck, two of the largest banks in South America are Citi and Santander and neither of them are based out of South America. I used to work for Itaú and our contacts were in New York City, not Miami. I believe Itaú only has some private banking operations based in Miami.


Edit: A quick wakeup call for Miamians with delusions of grandeur. Here's the economic comparison, with Boston added in since someone else brought that up.

Miami
Population: 5,564,635
GDP: $274.1 Billion
Per Capita: $49,258.40

Philadelphia
Population: 6,018,800
GDP: $364 Billion
Per Capita: $60,478.67

Boston
Population: 4,590,000
GDP: $336.2 Billion
Per Capita: $73,253.16

Miami has fantastic Latin American connections which give it a fantastic culture and social vibe...but it's far from being above these other cities in terms of importance.

Last edited by tmac9wr; 01-16-2014 at 12:12 PM..
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