Mayor Dr. Smith Joseph hosted his second Quarterly Economic Development Business Luncheon on June 1, 2016 where North Miami’s residents and officials got together to discuss the projected big economic and tourism boost that is to reach North Miami in the following years. The tourism and travel industry is uniquely important to the economy of South Florida and the theme for this past luncheon on June 1st was Travel, Trade, & Tourism.
William Talbert, CEO of the Greater Miami Convention & Visitor’s Bureau was the Keynote Speaker for the Travel, Trade, and Tourism event. Panelists included Eric Knowles, CEO of the Greater Miami-Dade Chamber of Commerce, Eric Olafson, Manager of Trade & Foreign Trade Zones at Port Miami, Manuel Gonzalez, Chief of International Trade & Economic Development for Miami Dade County and Carolin Lusby, Professor at FIU’s Chaplin School of Hospitality & Tourism Management.
With increased property values and new construction up the Biscayne corridor and the Super Bowl to take place in 2020, development in North Miami is becoming more lucrative because of its ideal location and relatively inexpensive property values.
President and CEO of the Greater Miami Convention and Visitors Bureau, William Talbert, informed the audience of the opportunities North Miami can benefit from in the travel, trade and tourism industries as the number of visitors and residents increase in Miami.
“Clearly by being between Downtown and Miami Super Bowl City and the stadium, we will be right in the middle of where all the action is,” said Talbert.
Currently, most hotels in the greater Miami area are located south of 36th Street and the beaches, making it difficult for North Miami to attract newcomers to the area. However, city officials have come up with a plan that will expose North Miami to more tourism and investments.
“The city already developed a master plan for North Miami’s downtown, which included a hotel,” said City Manager Larry Spring. “As far as I see it, the fact that we are at the Biscayne quarter, with ocean and water views depending on how high you go up, bay access will make tourist want to stay in North Miami.”
North Miami also plans on the creation of a Chinatown to gain recognition and bring in a larger wave of tourists to the city.
Recently, city officials met with 28 Chinese investors who are interested in investing on a Chinatown in the area.
“We took the lead, making the designation, and we are spending our resources to physically and aesthetically change the street,” said Spring. “ We will put gateways, make the street more walkable, establish businesses and change the façade as an actual attraction.”
This designation would not only generate more visitors daily, but it could have a long-term effect on housing investments.
There is only a small percentage of Asians living in North Miami; however, establishing a Chinatown is projected to bring new residents and investors to the area from different parts of the world.
“If investors are spending hundreds of millions of dollars in the region and we have Chinatown here and they own the business or the land, they might buy a condo there or
several condos there so they will have a place to stay,” said Spring.
During the luncheon, city staff and speakers also encouraged businesses to get involved and promote their businesses. Officials will continue to host luncheons, resource fairs and meetings to inform business owners of the upcoming opportunities as new projects are proposed.
