South Florida heats up with ‘unprecedented’ growth, transforms into ‘most dynamic city in the world’
While many may consider Miami as a destination to vacation, as opposed to a place to live, the city’s sprawling economy and mayor’s contemporary leadership has now put South Florida on the map as a global family and financial hotspot. Miami Mayor Francis Suarez, the first ever local-born mayor, has long touted the “Miami miracle” model since winning […]
More CSX freight trains seen as route to add passenger rail too
Planners who had been spotlighting transit passenger solutions to Miami-Dade’s road congestion are suddenly shifting their focus to freight, but with the same objective. For years commissioners looked to dormant freight rail lines to carry passenger transit but had no success in dealing with owner CSX rail system. But recent discussions have uncovered a desire […]
Ikea To Spend $2.2B Opening New U.S. Stores And E-Commerce Hubs
The international purveyor of self-assembled furniture and Swedish meatballs is printing out instructions for a growth spurt in the U.S. over the next three years. Ikea plans to spend $2.2B over the next three years opening eight new home furnishings stores, along with nine smaller-format stores and 900 pickup locations, the Dutch-owned company announced Thursday. […]
Four out of the five US metro areas with the lowest unemployment are in Florida. Here’s why
Washington, DC (CNN) — Four out of the five US metropolitan areas with the lowest unemployment rates are in Florida, thanks to the state’s growing population, robust tourism activity and increased business investment. Miami had the lowest unemployment rate of metropolitan areas with more than 1 million people in February at 2.2%, tied with Birmingham, […]
Wells Fargo Beefs Up Reserves By $643M To Deal With Bad CRE Debt
Financial services giant Wells Fargo, in reporting its first-quarter 2023 earnings, said that it added $643M during the quarter to its reserves to cover potential loan losses. Specifically, the bank said the total reflected an increase in reserves for commercial real estate loans, especially loans associated with office assets. Wells Fargo also increased reserves to […]
Blackstone Closes On $30B Real Estate Fund, Its Biggest Ever
Blackstone has closed on its latest real estate fund, raising $30.4B in capital commitments. The fund is 48% larger than the investment giant’s previous real estate fund, which closed in 2019. The new fund is called Blackstone Real Estate Partners X and had an original target of $25B. Major investors in the fund include the […]
Citadel Breaks Off Partnership With Sterling Bay For Planned Miami HQ
When hedge fund giant Citadel announced plans last summer to move its headquarters from Chicago to a new skyscraper in Miami, it tapped one of its longtime Chicago corporate neighbors to build it. But that partnership is now off. While Citadel and Citadel Securities are still planning to move into a $1B new development in […]
Nine of the 10 Fastest-Growing U.S. Counties Were in Texas and Florida
On a net basis, suburban and urban counties in Texas, Florida and Arizona added the most new residents among all counties across the nation last year. This, according to the recently released Vintage 2022 estimates from the U.S. Census Bureau, is a continuation of a long-standing trend of strong population growth across the Sun Belt. […]
Florida Ranks Best US State to Start a Business
Capital on Tap, a business credit card expert, has conducted a new research study to determine the best and worst US states for starting a small business. The study analyzed eight factors including new firm survival rates, corporate tax rates, and the number of entrepreneurs per state to determine the viability of starting a small […]
Saudi Arabia, Miami Offer Models for Economic, Social Progress
The FII Priority conference recently heard that economic and social reforms being carried out on a national level in Saudi Arabia and on a city level in Miami offer a model for progress and development that can be emulated worldwide. FII Chairman and Saudi Public Investment Fund Gov. Yasir Al-Rumayyan joined Miami Mayor Francis Suarez […]
