Where is South Florida Heading? - Miami Downtown Development ...

WHERE IS SOUTH FLORIDA HEADING?Projected Employment Growth by Sector2004-2012700,000600,000500,000400,000300,000200,000100,0000TradeTransportationand UtlitiesEducationand HealthServicesProfessionaland BusinessServicesLeisureandHospitalityFinancialActivitiesPublic ConstructionAdministration2004 2012OtherServicesManufacturingInformationNaturalResourcesand Miningand health services, professional and business services, andleisure and hospitality. The highest paying sectors make upa smaller portion of employment in South Florida. 24The distribution of South Florida’s employment is expectedto remain similar by 2012. Trade, transportation,and utilities will gain employment but drop to only 20percent. Education and health services, and professionaland business services will grow the most, increasingtheir share of employment.Unfortunately, the occupations that will offer the mostnew work in the region by 2012 will be low-wage jobsthat pay between $6 and $12 an hour. These include retailsalespersons, waiters and waitresses, food preparationand service workers, and janitors and cleaners. The onlyexception among the top five occupations is registerednurses, who are in high demand and receive higher wagesof $22 to $27 an hour. In addition, elementary schoolteachers will be in high demand with an average pay ofabout $25 to $27 an hour. 25Occupations Projected to Gain the Most New Jobs2004-2012OccupationNew Jobs AnnuallyRetail Salespersons 5010Waiters and Waitresses 3583Food Preparation & ServingWorkers 2887Registered Nurses 2711Janitors and Cleaners 2200Key Industry ClustersThe state identified six industry clusters in which Floridahas historically shown strength and which are key to successin the new economy. 26 These industry clusters---lifesciences, aviation and aerospace, financial and professionalservices, information technology, defense, andmanufacturing---require skilled employees and pay highwages, with statewide annual average wages between$43,000 and $56,000. Four clusters have a significantpresence in South Florida and are critical for future jobgrowth.The life sciences employed 619,350 workers in Floridain 2003, eight percent of all employment. South Floridaholds over a third of the jobs in this industry cluster, comparableto its proportion of the state’s population (36%). 27Major projects, such as the new Scripps Research Institute,may generate an additional 6,500 jobs over the nextdecade and a half, as well as a projected 40,000 more highpayingjobs from industries clustered around Scripps. 28For example, the Burnham Institute, a biotechnology researchinstitute from California, is considering locatingin St. Lucie County. Miami-Dade County is also trying tofurther expand the biotechnology sector within the region.Planning is underway for a biotechnology villageconnected to the University of Miami/Jackson MemorialMedical Center. 29 In Broward County, the AcademicalVillage will house biotechnology and medical researchat the Florida Interdisciplinary Science Center, whereNova Southeastern University will partner with the UnitedStates Geological Survey, Florida Atlantic University,and the University of Florida. 30 The Research Coast EconomicDevelopment Coalition (Treasure Coast) and theiCoast (core counties) are working to attract additionalbioscience industries, as well as other research and development,science, and technology-related businesses.48