Pristine beaches, vibrant nightlife, and a temperate climate are some of the aspects that make Miami such a desirable location. In 2021, more than 135,000 new business applications were received to relocate their offices to South Florida from companies looking to leverage its business-friendly tax policies, suitable location for exploring foreign markets, and its burgeoning local economy.
Making The Switch
Miami is being rebranded as a business hub. Citadel, Subway, and an army of Silicon Valley talent have already relocated, citing tax advantages, a business-friendly environment, and a better quality of life that the working population seeks nowadays. Subway highlighted reduced friction in supply chains as a further reason. With more and more businesses flocking to the area, more seamless collaboration can ensue, reducing transportation costs between distinct partners and improving business relations overall.
Miami is also a magnet for talent. Aside from the benefits Miami offers in terms of lifestyle, many businesses, entrepreneurs, startups, and well-established companies are moving their personal and professional lives to a part of the nation that promises prosperity. Real estate is up to US$20 cheaper per square foot in South Florida for office buildings, as opposed to San Francisco. But the list of overall pros goes beyond just price.
- Location, location, location
Miami’s geographical position doesn’t only bestow it with a temperate climate all year round; it facilitates potential connections with Latin America due to its proximity, serving as a gateway to markets of around 667 million people. This allegiance is further simplified when we consider that 70% of the population speaks Spanish in Miami.
- Leadership Support
Francis Suarez, the mayor of Miami since 2017, has much to do with the current wave of business migration. His effort to welcome entrepreneurs to the area after quicker post-pandemic reopening means the area has crammed approximately 20 years of development into just 24 months.
His affinity for technological innovation —he receives his salary in cryptocurrency, according to this source — has also sowed trust in the minds of tech giants betting on blockchain and other innovative developments. This is a move that appears to have influenced the current economic climate.
- Rapid Growth
As of 2021, Florida’s GDP ranked fourth in the nation. The local economy is flourishing with an 80% survival rate for startups. Coupled with falling unemployment —and the lifestyle overall— South Florida is enticing large companies and previous Wall Street advocates to trade in the rat race for Miami Offices in the beautiful south.
It’s easy to understand why corporate America is eyeing up commercial real estate in South Florida. How can we condition the corporate environment to guarantee success for the next arrivals? In other words, what should these new office spaces look like if they are to give businesses the best shot at prosperity?
What are the main things to consider when choosing an office space in Miami?
Miami embraces a young, diverse population at the pinnacle of their careers. As such, office environments should cater to them, but what exactly do they want? Or instead, what is it that they need in an office? The answer lies in the type of work and how these spaces interact with their environment.
With Miami’s vibrant lifestyle, office spaces that offer calm and serenity are a welcome contrast. AEI spaces recommends office design palettes including light teak wood, soft whites and beiges, and a multitude of biophilia throughout the space, perhaps with splashes of color to invigorate the energy in the space, without overwhelm. This creates a sense of juxtaposition between the office environment and the vivacity of Miami.
Why are open offices important?
Miami is known for its urban skyline, with concerns over space mounting as the population increases. North Shore Open Space Park is one of the beloved open spaces, offering 30 acres of freedom to its visitors. Miami offices and other buildings can emulate the city’s gems by incorporating less urbanism into their interiors in favor of open, even green spaces that also nod to the collaborative working models of this post-pandemic era.
Colors and Materials
Natural tones for corporate design are an excellent choice for offices that want to convey a sense of calm to their workers. These more palatable tones are ideal for traditionally high-stress working environments. In contrast, young, modern, and more playful corporate scenes can opt for an extension of the city vibe in their offices by incorporating artwork, adding in feature walls, or creating colorful spaces in collaborative areas and more neutral tones in working spaces that are designed for focus work..
Contemporary business needs contemporary design to match. By default, those businesses that are currently thriving have been able to adapt to changes and place innovation at the heart of their company culture. This translates to a high presence of high-tech companies now shifting operations to Miami. Because of the nature of these organizations, connectivity and technology-positive environments are a must-have. Think of ample electrical sockets, space for projectors and other devices, and a good location for WiFi availability.
Understanding the needs of different teams is paramount to nailing their office design. AEI Spaces has undertaken a range of projects in the Americas, but also in Miami itself. The key is understanding the nuances of each client and project to deliver results that speak for themselves. Versatility is paramount, and you can appreciate the range of aesthetics we create in Miami projects such as Holland and Knight, Katz Barron, Dufry, Blue Crest, and Robeco, to name a few.
Miami as a Hotspot
Here lies the intersection. Innovative, avant-garde companies are flourishing thanks to technological advances and, as such, are experiencing rapid growth. There is a degree of choice in investing in even further growth. Therefore many companies are making the informed decision to invest in the Miami region, with its flourishing local economy, fabulous lifestyle, and great geographical position.
Miami and business complement each other — on the one hand, we have an area conducive to business success, as seen in its exponential growth in recent years. And on the other hand, we have an influx of corporates and professionals that only add to the desirability of South Florida. While the cost of living and investment is still comparatively low, the decision to make a move is pressing —are you ready to move to the US up-and-coming business hub?