One Community One Goal UpdateDoral Business CouncilDecember 13, 2011

Frank R. Nero, President and CEO, The Beacon Council

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• The average resident’s age is 65• Home of Miami Vice• Lots of hurricanes• We only have beaches and not much else to do• People only speak Spanish• There are too many insects• We are only a tourist based economy

Misconceptions About Miami-Dade

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What is Miami-Dade County Today?

What is our vision forour community in the future?

Community at the“Crossroads”

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Trends in Unemploymentand

Job Creation

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Miami-Dade County's Unemployment Rate (1996 – 2010)

7.3% 7.1%6.4%

5.8% 5.3%

6.9%7.8%

7.2%

5.6%4.3% 3.8% 3.8%

5.3%

10.7%

12.4%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

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Jobs Created or Lost from 2008 - 2011

7,200

-23,700

-50,000

-31,200

3,700

-36,400

18,90015,900

11,900

4,900

-33,100

-20,600

-60,000

-50,000

-40,000

-30,000

-20,000

-10,000

0

10,000

20,000

30,000

January '08

April '08

July '08

October '08

January '09

April '09

July '09

October '09

January '10

April '10

July '10

October '10

January '11

April '11

July '11

October '11

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Current Employment in Miami-Dade County

October 2011

Source: Florida Department of Economic Opportunity, Labor Market Statistics, Census of Employment Statistics & Quarterly Census of Employment and Wages, 2011

Industry Title # of Emp % of TotalTotal Employment 1,013,210 100.00%Trade, Transportation, and Utilities 254,000 25.07%

Retail Trade 126,200 12.46%Wholesale Trade 69,100 6.82%Transportation, Warehousing & Utilities 58,700 5.79%

Education and Health Services 166,900 16.47%Hospitals 45,200 4.46%

Total Government 153,500 15.15%Professional and Business Services 136,800 13.50%Leisure and Hospitality 109,300 10.79%Financial Activities 60,600 5.98%Other Services 40,400 3.99%Manufacturing 33,700 3.33%Construction 31,400 3.10%Information 17,000 1.68%Agriculture 9,310 0.92%

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•1984 - The Beacon Council was founded and developed business retention, expansion and recruitment strategies

•1996 - One Community One Goal initiative identified Targeted Industries

•Given extreme changes in global economy and competition from cities throughout the world for new investment and job creation – a comprehensive update on strategic opportunities was needed

Miami-Dade County Targeted Industry Strategic Plan -

Background

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Current Miami-Dade County Targeted Industries

• Aviation • International Commerce

• Fashion-Lifestyle • IT/Telecom

• Life Sciences • Film & Entertainment

• Financial Services • Visitor Industry

The Beacon Council has partnered with the County to incorporate Target Industries into the Economic Element portion of the Comprehensive

Master Plan and the Economic Development component of the County’s Strategic Plan.

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What will the One Community One Goal Targeted Industry Strategic Plan do?

Identify strengths and challenges of Miami-Dade County’s economy

Identify and refine Target Industries for future economic development efforts

Identify education and training requirements

Provide an economic development marketing plan of action that will create new jobs and investment in those industries and across the economy

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Selected industries with the highest potential for increased wages, new investment and new jobs

To ensure success:

1. Local strengths and assets must match selected industries’ specific requirements

2. Economic development strategies and resources must yield the highest ROI

What is a Targeted Industry?

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Once the new OCOG Targeted Industries are selected, strategies will be created for:

•New Recruitment

•Retention and Expansion

•Marketing strategies for Economic Development Missions, Trade Shows, Communications, Contacts and Outreach

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1) Different approach than first OCOG

2) All University Presidents and Superintendent of Miami-Dade County Public Schools serve on OCOG Steering Committee

3) Developing an inventory of Education Assets and Training Programs that is aligned with the proposed Targeted Industries

Education and training are the foundation of the program

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1) Identifying the Threats is the best way to find solutions and strategies on how we will address the issues

2) None of the issues identified are insurmountable

3) OCOG is a unified community effort to address the potential threats and continue to attract new jobs to Miami-Dade County.

4) Unprecedented cooperation between public sector, education and private sector to develop and implement the necessary actions.

5) Wake-up Call/Call To Action

OCOG Initiative Focus

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Competitive Evaluation Report CompletedDetailed examination of Miami-Dade’s economy, its strengths, challenges, opportunities and threats.

Education Assets InventoryInventory of PreK-12, college, university, postsecondary, workforce development

andtraining infrastructure. Includes interviews with area employers about their

workforce needs. Recommend educational programming to fill gaps between what is offered and what employers and target industries need.Target Profiles Report

In-depth profiles of the target industries and subsectors that will be thetargets of future economic and workforce development activities.

Target Industries Strategies and Implementation PlanEconomic development, workforce development and marketing action plans for

each target industry. Detailed step-by-step program of work, including an implementation timeline, task assignments, and performance metrics.

Deliverables

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OCOG Timeline Update and Deliverables

1) Completed Competitive Assessment Report released on December 6, 2011

2) Final Target Industry Clusters will be announced on January 12, 2012

3) Education Assets Inventory aligned with Target Industries completed in January, 2012

4) BLUEPRINT: Final Report, Marketing Plan and Recommendations for Implementation in March, 2012

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Co-Chairs of One Community One Goal

Mayor Carlos A. Gimenez Miami-Dade County

Alexandra Villoch

Senior Vice President, Advertising and MarketingMiami Herald Media Company

Adolfo HenriquesVice Chairman, President and COO

Gibraltar Private Bank & Trust

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Major Elements Completed

1. Steering Committee – 55 Community, Business, and Education Leaders

2. OCOG Survey – 4,100 Responses in Three Languages

3. Seven Focus Groups Convened and Additional Input Sessions

4. SWOT Sessions and Interviews

One Community One Goal has a one year time frame – April 2011 to March 2012

• Aviation/Aerospace • Tourism/Hospitality• Banking/Professional Services • Special Group: New Leaders• Design/Creative/Fashion-Lifestyle • GMCC Goals Conference• IT/Telecom• Logistics/Trade

• Community Breakfasts

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Present Contributors- BlueCrossBlueShield - Dosal Family Foundation - Greater Miami Convention and

Visitors Bureau- John S. and James L. Knight

Foundation- Miami Downtown Development

Authority- Ryder Charitable Foundation- The Beacon Council- The Beacon Council Economic

Development Foundation-The Miami Foundation -The Miami Herald and El Nuevo

Herald-Wells Fargo-World Trade Center Miami

Who is funding One Community One Goal?

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The Beacon Council Foundation is working in partnership with many community and business organizations who have provided continued

assistance and involvement in One Community One Goal

One Community One Goal partners have:

• Hosted OCOG reporting events

• Distributed and promoted OCOG surveys and Focus Groups

• Provided input, research, and data for analysis

• Served on the One Community One Goal Steering Committee

One Community One Goal Partners

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OCOG Partners List Continues to ExpandAmerican Airlines Miami-Dade Chamber of CommerceBaptist Health South Florida Miami-Dade CountyBarry University Miami-Dade County Board of County CommissionersBecker & Poliakoff, P.A. Miami-Dade County Cultural AffairsBlueCrossBlueShield Miami-Dade County League of CitiesCAMACOL (Latin Chamber of Commerce of the U.S.A.) Miami-Dade County Public SchoolsCatalyst Miami (Human Services Coalition) Miami-Dade County Sustainability, Planning, and Economic EnhancementCoalition of ChambersCoral Gables Chamber of Commerce

Miami Downtown Development AuthorityMiami International Airport

DelancyHill North Dade Regional Chamber of CommerceDoral Business Council Perry Ellis International, Inc.Esslinger-Wooten-Maxwell Realtors Port of MiamiFlagler Real Estate Services Sandler, Travis & Rosenberg, P.A.Florida International Bankers Association Sant La Haitian Neighborhood CenterFlorida International University Seaboard MarineFlorida Memorial University South Florida Hospital & Healthcare AssociationFlorida Power and Light South Florida WorkforceGibraltar Private Bank and Trust Co. St. Thomas UniversityGoldfarb Management Services The Beacon CouncilGreater Miami Chamber of Commerce The Miami FoundationGreater Miami Convention & Visitors Bureau The Miami Herald and El Nuevo HeraldHEICO Corporation United Way of Miami-DadeHomestead/Florida City Chamber of Commerce University of MiamiMCM Corp. Wells FargoMiami Dade College World Trade Center MiamiMiami Free Zone

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OCOG Survey Questionsand Results

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How well does Miami-Dade County satisfy your needs in the following areas?

Most SatisfiedColleges and UniversitiesClimateImage of region as destination

Least SatisfiedGovernment LeadershipJob GrowthMass Transit

1 = Very Dissatisfied2 = Dissatisfied3 = Average4 = Satisfied5 = Very Satisfied

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What are Miami-Dade’s top three strengths?

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What are Miami-Dade’s top three weaknesses?

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How would you grade Miami-Dade County’s economic performance over the past five years?

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To better serve your business, Miami-Dade County needs to increase education and training of individuals with the following skill sets: Top Responses

All Companies 250+ Employee Companies

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In the next five years, my business expects to:

All Companies 250+ Employee Companies

Business owner and manager responses only

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All Companies 250+ Employee Companies

Business owner and manager responses only

Compared to the past five years, I predict that my company’s ability to fill job vacancies in the next five years will be:

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Competitive AssessmentFindings

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•International community with global brand recognition

•Education community involved

•Information Technology

•Tourism

•Downtown Miami

•Quality of Life amenities

•Geographic Location and Logistics Infrastructure

Competitive Assessment Findings:Strengths and Opportunities

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•High levels of unemployment

•Low wages

• “Transactional economy” – not fully leveraging commerce flowing through economy

•Talent retention

•Local government, regulations and permitting

•Entrepreneurship

•Strained ground transportation options

•Limited legacy of major corporate involvement in economic development

Competitive Assessment Findings:Weaknesses and Threats

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Research Funding• Universities in Miami-Dade received

nearly $400 million in research funding in 2009.

• This is more than Raleigh-Durham (Research Triangle) and Phoenix.

• As % of economy, Miami’s research economy is average among benchmarks.

• Good news: Research funding grew 40% (Greater Miami) and 35% (Miami-Dade) over the previous 5 years, at the top of the benchmark list

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Infrastructure

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• Excellent assets

• Port

• Airports

• Rail

• Visionary projects currently being developed

• Weak roadway infrastructure

• High congestion index

• Employer frustration with accessing labor across region

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Exports

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•The $20 Billion of exports originating in South Florida in 2009 accounted for 3% of all exports from the United States

•South Florida’s exports accounted for 12% of local GDP, the 4th highest share among benchmark regions and a greater share than larger exporters such as New York City and Los Angeles

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2.5%

3.4%

3.7%

4.2%

4.8%

5.1%

5.5%

5.6%

5.8%

6.4%

7.0%

14.5%

16.1%

18.1%

12.3%

0% 5% 10% 15% 20%

NorfolkRaleigh

Charlotte

Phoenix

San Francisco

Atlanta

Chicago

DallasNew York

BostonLos Angeles

South Florida

San Jose

SeattleHouston

Exports as a Share of GDP2009

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Exports

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•Exports originating in South Florida grew 53%, the 3rd highest among benchmark regions and significantly greater than the benchmark and US average of 17%.

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Export Growth, 2005-2009

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College Enrollment

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•Miami-Dade’s concentration of 77 enrolled college students per 1,000 population Is exactly the benchmark average and above South Florida’s 73 students per 1,000 population.

•Miami Dade College has the highest enrollment of any public community college system in the nation.

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College Enrollment, 2010 (Students Per 1,000 Pop.)

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College-educated Young Professionals

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• Is Miami-Dade retaining its college graduates?

• College-educated are just 28% of all YP’s in Miami-Dade

• Many more choose Broward and Palm Beach counties

• Growth in college-educated YP’s in Miami-Dade grew 6% over the recent 5 year period (2004-2009), versus 8% for the rest of the population

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Housing Affordability

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•Miami-Dade County has the lowest median home sales prices among benchmarks outside the region.

•With median home sales at $125,000 in the first quarter of 2011, Miami-Dade County’s home prices are well below the benchmark average of $237,000 and United States average of $165,000.

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Median Home Sales Price,1st Quarter 2011

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Competitive Assessment Findings:Assets for Industry Growth

WORKFORCE

Education leaders engaged in the community and economic development High concentration and volume of college students and graduates Significant number of technical degrees awarded, particularly in health fields High concentration of regional medical workers Highly rated programs, positive perception, and increasing prestige of all area

colleges and universities – a higher education destination Strong expansion of higher education R&D Culturally diverse, multi-lingual workforce Major strides are being taken to improve Miami-Dade County schools Culture of population is historically entrepreneurial-minded Education faculty are experienced in multi-cultural education Success in leveraging state Incumbent Worker funding Small business

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Competitive Assessment Findings:Assets for Industry Growth

BUSINESS CLIMATE

Hub of global business between the US, Latin America, and the Caribbean No personal income tax and competitive corporate income tax rates Competitive sales tax rates Nearly $400M in research activity at local universities and growing fast Global economy with strong international connections Strong cultural, business, and infrastructure assets for global trade NAP of the Americas and other data centers Market-adjusted real estate costs, housing and office Strong and growing healthcare and life sciences sector, international banking Emerging and energized IT sector Tradition of robust small business community Multi-lingual business community

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Competitive Assessment Findings:Assets for Industry Growth

INFRASTRUCTURE

Excellent diverse distribution infrastructure Competitive airfares MIA with high passenger traffic, cargo activity, and $6+ billion in recent

upgrades 5 regional airports Port of Miami – greatly increasing capacity to handle international trade and is

#1 cruise port NAP of the Americas and other data centers Expanding mass transit from MIA to downtown Strong medical community Creative traffic management

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Competitive Assessment Findings:Assets for Industry Growth

QUALITY OF LIFE

Beautiful climate and natural environment Outdoor recreation Ethnic diversity Robust cultural opportunities Moderate housing affordability relative to other global metropolises High quality healthcare Creative approaches to city development that reflect Miami-Dade County’s

character Continued investment in world-class arts and cultural facilities and events Professional sports teams International visitor destination and visibility

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Highlights: Education Assets as Target Drivers• Trade

– Formidable array of International Business, Marketing and Law programming– Airport and Port Partnerships with area schools

• Information Technology– UM Center for Computational Science enabling Genomics and Bioinformatics capabilities– Center for Southeastern Remote Tropical Advanced Sensing (CSTARS) enables advanced GIS for a

variety of applications

• Bioscience– UM Life Science and Technology Park, Miami-Dade College partnership along with broad strength in

biology, chemistry and healthcare (clinical and administrative) offerings– Life Tech Florida collaboration among area institutions

• Education– Miami’s strength and diversity of public and private educational opportunities is itself a draw

• Existing Hospitality Workforce– Strength in hospitality programs provide foundation from which graduates can bridge to further

learning in Trade, Finance, Healthcare and Medical Tourism

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For further information go to www.onecommunityonegoal.com to access:

• Project Updates• OCOG Competitive Assessment Report• Additional OCOG documents

One Community One Goal