With all of its good news, Miami must make the most of this moment | Opinion
When it comes to valuing Miami’s stock, our city is trading at an all-time high.
The Miami Heat are in the NBA Finals. The Florida Panthers are vying for the Stanley Cup. Lionel Messi is headed to Inter Miami CF. Our commercial and residential real estate markets are outperforming the rest of the nation. Miami’s mayor is even rumored to be making a run for president.
At the same time, the Brickell Financial District has evolved into the “Wall Street of the South,” our labor market is among the strongest in the nation and the influx of people and businesses into South Florida is showing no signs of slowing down.
Our region’s brand has never been more visible or valuable, our economy has never been more robust, and yet the stakes for our community have never been greater.
For all of Miami’s strengths, near-term challenges and long-term threats abound.
Too many people are struggling with affordability. Traffic and congestion have become unsustainable. Soaring insurance rates are putting home ownership out of reach for most. A chronic teacher shortage is taking a toll on public school students.
Investments in resiliency measures, while admirable, are not keeping up with the realities of our changing climate. We are one major hurricane away from contending with catastrophic economic losses.
Given the strength of Miami’s brand and economy, it’s incumbent on our community to seize this moment by capitalizing on everything we’ve built to date. Miami’s public and private sectors have an opportunity — an obligation, even — to look beyond the here and now by investing in our city.
▪ Public sector leaders should be doubling down on infrastructure and resiliency improvements that will ensure Miami is a viable destination for residents, visitors and investors over the next 100 years. South Florida should strive to become the Silicon Valley of climate research.
▪ Companies and executives putting down roots here must work in lockstep with worthy nonprofits to address shortcomings in education if we are to continue attracting, developing, and retaining top talent.
▪ Tangible transit solutions that reduce traffic congestion must take the leap from the planning stage to implementation, including projects that leverage the resources and finances of the private sector.
▪ All levels of government — municipalities, counties, and the state — must do more to promote livability and affordability. From the development of attainable housing, to tackling the insurance crisis, there is plenty of work to be done.
Phrases like “global” and “world-class” have become everyday descriptors for Miami. The strength of our brand has gotten our city this far. It’s now up to our business, civic, nonprofit, philanthropic and political leaders to sustain the momentum while addressing critical issues and creating a roadmap for the future.
There has never been a more opportune time to invest in ourselves. As Pat Riley put it, “Anytime you stop striving to get better, you’re bound to get worse.”
Tadd Schwartz is President of Schwartz Media Strategies, an integrated communications and public affairs firm based in Miami.
