How Immigrants Play A Role In Improving Miami’s Economy

An Asian family

Immigrants are a vital part of the growth of any country. Throughout history, immigrants have always contributed to local development and have always been a crucial part of the country they move to. In Miami, around 54% of the residents are immigrants. These immigrants make up more than half of the labor force and taxpayers, meaning Miami-Dade County benefits heavily from them. As a result, the State of Florida revamped its immigration policy to offer several visa options to help immigrants legally stay and work in the state. Here are ways immigrants in Miami help boost the economy.

Revitalizing Local Businesses

Many immigrants prefer starting their own small and local businesses over joining existing corporations. As a result, they help the local businesses in Miami flourish and create space for new businesses by increasing the target population. New businesses increase the competition, and this leads to more innovation in the industry. So it’s all a chain reaction that ends up growing the economy and bringing in more investments.

Population Growth

Population growth is also important in boosting the economy. Without immigrants, Mimi-Dade County’s population would’ve shrunk between 2015 and 2019. But the immigrants boosted the population by 8.4%. A higher population leads to more skilled workers, higher tax collection, and more consumers. All of these things play a huge role in growing the economy.

More Talent

Immigrants in Florida bring a unique mix of talent. Most of these immigrants play an important role as entrepreneurs. In 2019, 145,000 immigrants opened up their businesses and generated 2.9 billion dollars in income. This significantly boosts the economy, improves industries, and also creates jobs for the rest of the residents of Miami-Dade County.

A Hispanic family

Paying Taxes

1 in 5 Miami residents is an immigrant, and historically immigrant families in Miami have reliably paid their share of taxes. These taxes are used to offer assistance to the residents, start development programs in the county, and help the economy grow. The highest number of taxes are earned through housing and small businesses. Without immigrants, the county wouldn’t have seen such progress.

Meeting Labor Shortage

Immigrants in Miami-Dade County help reduce the labor shortage in the county. Around 65% of the county’s residents are immigrants, and they make up 86% of the agricultural workers, 61% of STEM workers, and 76% of manufacturing workers. This allows the county to create more industries and grow the economy.

Helping Miami Offers Several Resources To The Residents Of Miami

Helping Miami is a website that lists several helpful guides and blogs to help the residents of Miami. Our blogs are based on autism resources in Miami, educational assistance, immigration policies, and the DUI victim assistance program. Our blogs include informative guides along with links to organizations that can help people. Read our blogs today to learn more!