Posts

Broward Jobs, Affordable Housing, Transportation Among Top Priorities For County

Fort Lauderdale Skyline 800x315

Nearly 1,000 business and civic leaders gathered at the Broward Workshop’s 17th annual State of the County Forum on Wednesday to review the county’s economic progress and discuss plans for the future.

Held at the Broward County Convention Center, the event highlighted last year’s economic achievements while addressing pressing concerns such as job growth, housing affordability, and infrastructure development.

Employment Trends and Workforce Needs

Despite business expansion and growth in 2024, Broward County has 7,945 fewer jobs than it did at the same time last year. With an estimated 92,000 new jobs needed by 2030 to keep up with population growth, this decline presents a challenge.

However, the county still boasts a job surplus, with 35,152 open positions compared to 31,278 job seekers.

Infrastructure and Transportation Initiatives

Broward County Mayor Beam Furr emphasized the county’s commitment to improving public transit and infrastructure. One key initiative is a proposed commuter rail line extending to Deerfield Beach, aimed at alleviating road congestion and enhancing mobility.

Additionally, the ongoing Convention Center expansion and adjacent hotel project are proving to be valuable investments, with a strong lineup of industry events set to generate thousands of hotel stays in the coming years.

Furr also acknowledged the contributions of public sector employees, contrasting Broward’s approach with companies that prioritize productivity metrics over workplace empowerment.

The Housing Affordability Crisis

One of the biggest challenges facing Broward County remains access to affordable housing. More than half of residents are considered housing burdened, meaning they spend over 30% of their income on rent or mortgage payments.

“There are multiple factors driving this issue—an influx of Northerners moving to Florida, hedge funds purchasing starter homes, and limited land for new development,” Furr explained. “All of these put immense pressure on the housing market and workforce.”

The median home price in Broward reached approximately $454,000 in February, marking a 7% increase from the previous year.

Population Growth and Economic Mobility

Florida Chamber of Commerce President and CEO Mark Wilson warned that rising costs are driving younger residents out of the state. Among those aged 20 to 29, more people are leaving Florida than moving in—an indicator that job seekers, new families, and first-time homebuyers are struggling with affordability.

At the same time, Florida continues to experience substantial income migration. Between 2021 and 2022, the state gained $36 billion in net income, with $2 billion flowing into Broward County alone. The Florida Chamber projects the county’s population will grow by 261,000 by 2030, with the state adding 2.8 million residents overall.

Despite this economic growth, challenges remain. The state still has 713,000 children living in poverty, including 63,000 in Broward.

A Call for Collaboration

Wilson emphasized that bipartisan cooperation will be essential in addressing key issues such as infrastructure, housing, and education to support Broward’s growing population and business environment.

“People are tired of the political divide,” he said. “If we need to create 80,000 more jobs in Broward by 2030 to lift people out of poverty and support small businesses, we should all agree that this is a priority—regardless of political affiliation.”

With a strong economy, increasing population, and ongoing investments in infrastructure, Broward County stands at a pivotal moment. The challenge now is ensuring sustainable growth that benefits businesses and residents alike.

 

Source:  SFBJ

 

/by

Downtown Fort Lauderdale, Palm Beach County Burnish Reputations As Greener Pastures For Businesses

times square billboards for brevard and palm beach counties 800x315

A little chest thumping never hurt anybody — especially when business is sizzling during inflationary times.

In a case of “strike while the iron is hot,” or perhaps before it turns cold, the Business Development Board of Palm Beach County just took its decade-old “Wall Street South” campaign to midtown Manhattan with the purchase of one-day ads on giant electronic billboards in Times Square and nearby neighborhoods.

“Wall Street South. Head for Palm Beach, Florida,” said one. “Wall Street South. Your Future Is Bright in Palm Beach, FL.” said another.

Fort Lauderdale’s Downtown Development Authority, meanwhile, is circulating a report declaring that its central business district and Flagler Village are generating as much economic activity as Port Everglades and Fort Lauderdale-Hollywood International Airport. For this, think about amounts for each entity that are north of $30 billion a year.

The heads of both agencies are advocates of maintaining hard-earned momentum in a highly competitive economic development game made more difficult by stubborn rising costs for businesses and households.

Kelly Smallridge, president and CEO of the development board, said in an interview that her nonprofit agency caught a deal that was hard to resist: Color ads in three locations for $20,000 — not only for this past Wednesday, but for the forthcoming New Year’s Eve celebration as well.

“This is probably the boldest strategy from an advertising perspective  we’ve engaged in anywhere in Manhattan,” Smallridge said. “I can’t image the hype that’s going to take place when it airs on New Year’s Eve.”

Development board representatives have been visiting New York for years touting the county’s “Wall Street South” campaign, which is designed to persuade executives from financial firms to locate or relocate offices, including headquarters, in Palm Beach County.

Smallridge said her agency was approached by a billboard ad firm and offered a discount rate designed for nonprofit agencies.

“We got very lucky and took advantage of it,” Smallridge said. “We could no way afford the real cost. They approached us to see if we wanted to buy it. They never would have had us on their radar had not been such a big story already. Every time you go to Manhattan, people say, ‘it’s not if we will move, but when.’”

She said the ads appeared at the Times Square Tower, the 43rd Rotunda, and on the “I Love NY” Board at 1530 Broadway,

In a statement, the Business Development Board says that since 2019, it has helped 100 firms open offices in Palm Beach County, which is home to 57 billionaires and 70,000 millionaires. Over the years, the board has even connected headmasters of local schools with company executives to assure them that their children will receive top-notch educations in the county’s schools.

“The 10-year campaign has yielded great results and has certainly boosted our economy in Palm Beach County from Boca Raton to Jupiter,” Smallridge said. “Among those gains: higher salaried jobs, more philanthropic donations to local nonprofits, and companies “run by very smart people. They want to be ingrained in the community,” she said of the newcomers. “None of them has received any financial incentives to move here. We are definitely becoming a finance hub in the Southeastern United States. It’s going to be a continuous effort and we’re not going away any time soon.”

A Surge In Fort Lauderdale

Jenni Morejon, the DDA president and CEO, said the downtown’s growth has its “building blocks” in the wake of the recession triggered by the housing collapse 15 years ago.

A report commissioned by the DDA and authored by Walter Duke + Partners, a commercial real estate appraisal firm,  concludes that the downtown area, which is defined as a 2.2-square-mile area that runs north of 17th Street to the central business district, Flagler Village and Sunrise Boulevard, “has an annual economic impact of $35.7 billion, a $6 billion increase from 2019.”

The impact figure rivals Port Everglades and Fort Lauderdale-Hollywood International Airport, the authority says. They combine for more than $105 billion in economic activity such as jobs, generation of tax revenue and business transactions.

“There are 40 new developments “somewhere in the review pipeline, with some approved by a city review committee,” said Morejon. “I think the sustainable growth in downtown Fort Lauderdale is certainly something unique. Not a lot of cities get that. We’ve grown in population about 35% since 2020, a little over 60% since 2018 and almost a complete doubling of population since 2010.”

The downtown area is now roughly 26,000, according to the report.

The DDA, though, has no plans to broadcast highlights of its uplifting report on Times Square billboards. In the past, Visit Lauderdale, the tourism promotion agency for Broward County, has advertised its latest campaigns there.

 

Source: SunSentinel

/by