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The Miami-Dade County Commission on Nov. 2 unanimously approved County Commissioner Eileen Higgins’ legislation to create the Miami-Dade Relocation and Expansion Incentives (REIP) Program. The REIP program will provide a monetary incentive to businesses who relocate to or expand in Miami-Dade County and create at least 50 local jobs with average salaries over $100,000.
“Miami-Dade is a prime location for economic development, but we face tough competition from other parts of the country in markets that actively attract companies and jobs with incentive packages,” Commissioner Higgins said. “The REIP program puts Miami-Dade on a level playing field and strengthens our ability to attract new companies, create higher wage jobs, and build a more diversified economy.”
The county’s current incentive program, the Targeted Jobs Incentive Fund (TJIF), requires companies receiving incentives to make a significant physical capital investment, but does not provide an adequate incentive for companies seeking to relocate to Miami-Dade that would invest in human capital. The newly approved REIP program provides incentives directed at attracting companies that significantly invest in human capital through high paying jobs.
“By adding the REIP program to the county’s economic development tools, Miami-Dade County is now able to attract the full spectrum of companies, from manufacturers interested in investing physical capital and new facilities to technology firms interested in investing in human capital and high paying professionals,” Higgins said.
The legislation includes additional incentives for businesses that relocate to economically disadvantaged Black communities. It also creates bonus incentives for companies who hire local residents, recent graduates of local universities, previously unemployed residents, returning citizens, or residents who were employed at a job below the Living Wage Rate.
“As we expand, strengthen, and diversify our economy, Miami-Dade County is working hard to attract more companies that will bring high-paying jobs to our community,” said Miami-Dade County Mayor Daniella Levine Cava. “The board’s unanimous approval of Commissioner Higgins’ ordinance creating the Relocation and Expansion Incentives Program (REIP) provides the county an important additional tool to help recruit and retain companies paying high-wage jobs and supporting economic growth that benefits all Miami-Dade residents. This new incentive makes our county even more competitive with other markets seeking to attract business from around the country.”
For more information, contact Francis Izquierdo, communications manager for Miami-Dade County Commissioner Eileen Higgins, by email at Francis.Izquierdo@miamidade.gov or call 305-375-5924.
