Miami Beach propels its economy as it continues to provide incentives for businesses, welcome high-level events to the city and maintain a safe environment for both visitors and residents. “One of our goals is to diversify our economy,” said Mayor Steven Meiner, “and there’s been a lot of interest from the tech and finance industries to start up here, relocate here in Miami Beach and South Florida. That is a way we can potentially diversify our economy. We’re always going to be a tourism hub, and we want to be, but it’s always healthy to have multiple dynamic players that drive our economy, and I think it’s the direction we’re going.” A major initiative for this year “is to refresh our Make A Bold Move marketing and branding campaign to position Miami Beach as a business destination even further,” said Rickelle Williams, assistant city manager. The campaign was initially launched in 2022, “and we are going to undertake the process of redeveloping and refreshing some of the collateral so that we can reach greater audiences.” The city expects to continue attracting financial services and tech firms, said Ms. Williams. The Make a Bold Move campaign “will definitely target those industries. But in addition, we plan to continue our expedited plan review and permitting incentive program, which is a no-cost incentive intended to encourage targeted relocations or expansions among those in the industry of tech and financial services, as well as corporate headquarters for any industry.” Additionally, the city will focus on its small businesses, Ms. Williams said. “We will be launching later this year a small business grant program to offer up to $5,000 to 20 eligible small businesses for a total program of $100,000, and we’re aiming to provide a resource to businesses with a presence in the city to sustain themselves during the challenging summer slow season.” The city is also expanding the large-scale nature and quality of its events, said Mayor Meiner. A number of sporting and health and fitness events are coming to the city such as Wodapalooz. “Last year, just a few months ago,” said Ms. Williams, “we had a group called Adobe MAX. They came in October, and it was their first time having their annual conference here in Miami Beach. Their activation brought over $22 million worth of economic impact, and we are in conversations with Adobe MAX about potentially returning for multiple years.” The Miami Beach Convention Center welcomes a variety of events throughout the year. From Florida SuperCon to Art Basel, the 1.4-million-square-foot center attracts many visitors. This year, the Miami Beach Convention Center hotel is to break ground. “One of the biggest initiatives that the city has for this year will be the groundbreaking of the Miami Beach Convention Center hotel,” said Ms. Williams, “and this hotel will deliver 800 hotel rooms that will support our Miami Beach Convention Center. We expect to have a groundbreaking early this year. The project will be completed tentatively in 2027. The groundbreaking will signify to the industry that Miami Beach will continue to be a destination for major conventions and shows.” High-level events are being attracted to the city, said Mayor Meiner. This is only going to continue, he said, “now that we have a final agreement with the convention center hotel; the agreement of $75 million of [redevelopment agency] funding.” This is going to be a boon to the level and quality of events in the city, “which will certainly positively impact our economy.” The city is also focusing on its residents. Mayor Meiner shared he is a firm believer that when the city offers quality of life initiatives for their residents, it also helps tourism. As seen in other parts of the country, said Mayor Meiner, when there’s a breakdown in law and order and a significant spike in homelessness, “it affects the economy. Businesses leave, they close down, they move out, and we’ve actually been the beneficiary of some of those businesses moving here because of those very reasons. That’s kind of the way I view it, and what’s good for our residents is good for our tourists.” Related Posts:Muriel Siebert & Co. moving NY headquarters to…Miami Beach moves to speed construction of convention hotelMiami Beach Convention Center sets events recordMiami Beach Convention Center unveils 17 events for 2024Miami Beach Convention Center events list expandsThe post Miami Beach looks to diversify as a business hub appeared first on Miami Today.