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Published: September 30 2015

TALLAHASSEE, Fla. – South Florida’s economy has seen considerable growth in recent years, thanks to a wide variety of investment options for foreign and domestic investors, according to a commentary from Florida TaxWatch, the independent, nonpartisan research group. A burgeoning innovation sector, increased foreign investment and a bolstered financial services market have augmented the region’s rapid growth.

“South Florida’s recent economic growth is a perfect example of the importance of diversity for sustainable economic recovery and performance,” said Dominic M. Calabro, President and CEO of Florida TaxWatch. “Providing investors with various opportunities allows them to find an investment that works for their capital and return needs, and ensures the economy is better able to weather future downturns.”

One driver for economic investment is the rise in innovative small businesses, fostered by the local Research Park at Florida Atlantic University. The Research Park develops business through a partnership with the university that provides access to needed services. The local investment results in impressive economic impact; participating businesses created 671 new jobs in 2014, with an average annual salary of more than $87,000.

Construction is another booming South Florida industry attracting significant foreign investment. Two Miami-area projects, SkyRise Miami and The Panorama Tower are expected to create more than 6,000 jobs during construction, and sustain more than 13,000 jobs upon completion.