9.1 Promote corporate social responsibility practices that bolster our local workforce

Issue Statement and Context

Miami-Dade is experiencing growing interest from companies that are seeking to relocate to our growing metropolitan area. We have long been attractive to businesses because of low taxes, good weather, an attractive real estate market, and high quality of life.

But more recently, corporate migration to Miami has gained steam as finance and technology firms seek a foothold here, recognizing our region’s diversity, commitment to entrepreneurship and innovation, and increasing ability to prepare local talent and attract skilled talent from around the globe.

The rise in remote work has given skilled workers the freedom to choose where they want to live, and Miami in particular is becoming a top destination for these workers. An analysis by LinkedIn of where tech workers are moving this year shows that Miami’s technical workforce was up 3% in 2020. With our "talent pipeline" expected to grow, we are now aiming to compete with peer tech regions like Silicon Valley, Austin, and Atlanta.

This is the image description. — *NY Times story on reasons to move to Miami*

Miami-Dade is positioned at this moment to shape a new vision for how we attract and support businesses to ensure that our economic growth is sustained and distributed. It is important the County is intentional about how we target the kinds of industries that complement and leverage our economic base, and the kinds of companies that see the value of our residents, build on our skills, and contribute to make our region one of opportunity. On the growth of the technology sector in particular, we have an opportunity to grow our innovation economy in a way that does not create the deep income inequalities it has created in other places.

The administration launched the Renew305 “CEO Ambassador” program to boost business relocations to the region by working closely with Miami business leaders. This program engages industry leaders around the country to consider Miami as a place to grow their business. The Beacon Council, as the County’s official economic development organization, has long been focused on attracting businesses to relocate here, including working with companies in target industries and offering incentive packages.

In most cases, these packages include goals around job quality and other social responsibility commitments by the companies receiving incentives, though the Beacon Council needs resources to more consistently follow up with recipient companies to ensure commitments have been met. Collaboration with the Greater Miami Chamber of Commerce is also essential in this effort. On the tech sector front, the administration is increasingly participating in and convening discussions with public and private sector leaders on the issue of equity in tech.

Detailed Action Summary

Work with the Beacon Council to follow up with companies that made social equity commitments as part of their relocation packages to assess level of follow-through and impact of those commitments
Create additional relocation incentives for incoming businesses that commit to achieving benchmarks for equitable jobs and community investment. Work to create tailored incentive packages for socially responsible businesses that layer existing programs, such as Opportunity Zones, and the Community Contribution Tax Credit program
Ensure there is a countywide approach to this action by coordinating investments in all 13 Commission Districts
Implement new economic development tools and industry attraction strategies that center job creation and innovation in climate resilience, including energy sustainability, green infrastructure, and “blue tech” (water systems)
Serve as a leader within the South Florida Anchor Alliance
Provide easy access Corporate Social Responsibility opportunities for new Miami-Dade County businesses to learn how to be introduced and fully engage in the community

9.1 Promote corporate social responsibility practices that bolster our local workforce

Issue Statement and Context

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Detailed Action Summary