When most people think of Miami, the first thing that comes to mind isn’t usually the city’s prominence in the tech industry. However, Miami-Dade, Broward and Palm Beach counties are home to 8,167 technology businesses, the 12th highest in the country according to Census data by Computing Technology Industry Association. With growth of the industry on the horizon, it could most certainly impact our local housing market.
Amazon Still Eyeing Miami
Along with other cities, Miami is still in the running as a destination for Amazon’s second headquarters. The company expects to invest over $5 billion in construction and create as many as 50,000 high-paying jobs.
Housing and Real Estate Investments Could Benefit
For many reasons, there is growing interest in Miami from the tech world, which could result in a boost to the housing market. The cost of living here is less than in other major metropolitan cities like New York or San Francisco. Secondly, entrepreneurs and investors may look to take advantage of the state’s tax laws by purchasing property and establishing business-friendly Florida as their personal “home base.”
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