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Miami Beach has voted to seek out and lure Israeli and Jewish-owned companies to the city.
Commissioners in April voted unanimously to direct the city administration to develop an initiative via the city’s Economic Development Department to attract Israeli and Jewish-owned companies.
“This is an item I’m incredibly proud to bring and excited about,” said Commissioner Joseph Magazine in the meeting. “Since even before being elected, one of my key focuses is on economic development in Miami Beach, and when we talk about not wanting to be the spring break capital of the world, what do we want to be? We’ve seen such great progress attracting a number of different businesses where we are not so concentrated in the hospitality sector.”
The city has private equity, technology and hedge fund companies, he said. Office spaces are also opening in all areas of the city. This helps diversify Miami Beach’s economy.
“Just last week or two weeks ago,” said Mr. Magazine, “we had Israeli Tech Week come to Miami, and there is such an opportunity. In fact, the United States Israel Business Alliance just stated, ‘Israel founding companies are increasingly eyeing Florida as a hub to expand their businesses in the US market. Israeli entrepreneurs are looking more and more at Florida as a viable option to grow their businesses in the US as it’s perceived as such a safe place as pro-Israel.’”
According to the resolution, the city acknowledges the value of fostering international business relationships as well as creating a diverse economic environment. “Israeli and Jewish-owned companies have a strong track record of innovation, entrepreneurship and global impact, particularly in sectors such as technology, health, sustainability and culture.”
Attracting these companies to create a presence in the city, says the resolution, enhances the city’s economic vitality as well as strengthens its ties with international business communities.
Mr. Magazine further discussed the initiative and addressed comments that were received.
“What I did [in the legislation] was direct our Economic Development Department to work with Israeli-based tech companies that are amongst the most prized in the world, to see if they are able to be extended the same opportunities as any other company that’s coming here, but give them a bit of direction about this key segment to attract,” he said. “The bile and the vitriol that we heard leading up to this was not only eye-opening, but appalling.”
Commissioner Alex Fernandez expressed support for the initiative as he explained the impact his colleague is making.
“I think the fact that the City of Miami Beach is reaching out to attract Israeli and Jewish-owned companies to establish their presence here is great,” said Mr. Fernandez, “but that the sponsor of it is someone who is not Jewish or someone who’s not Israeli, I think it speaks more to the volume and the importance of the item.”
The resolution says the city’s Economic Development Department is “well-positioned” to design and implement an initiative to promote the city as a desirable and strategic location for such companies to operate, grow and invest.
“I think we’re all supportive of this,” said Mr. Magazine, “and part of being a safe haven is speaking proudly about initiatives like this, and I know that we’re all focused on economic development. We’re all looking to be a safe haven for our Israeli and Jewish brothers and sisters, and what better way [than] to go out and try and attract Israeli entrepreneurs or companies that come here and help diversify our economy.”
