A team of Citylab researchers just completed an analysis of Census data and concluded that Miami is one of the fastest-growing cities, ranking first at the top of a list of fastest-growing cities in the United States.
Miami is “perhaps the biggest surprise” on the list, wrote author Richard Florida.
The analysts examined the top 50 U.S. cities during the years 2012 to 2017. The study looked at large cities, rather than metropolitan areas.
No other city came close to Miami for job growth during that period. The number of employees in Miami during that time grew 24.1%, well ahead of any other.
For population growth, Miami grew 12% over the same period. That ranks fourth in the nation, after Seattle, Austin and Fort Worth.
By comparison, Miami is growing ten times faster than lower-ranking cities for job growth.
Overall, warm-climate cities appear to be growing much faster than cooler weather cities, the report concludes.
This population growth makes Miami attractive to large investment groups. Virgin Trains (formerly Brightline) has already started operating its state-of-the-art fast train line, with the stretch from Miami to Palm Beach having its only stop in Fort Lauderdale.
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The company told investors in an Aug. 21 filing that it was making progress on three new stations at PortMiami, Aventura and Boca Raton.
The new stations will begin construction before the end of 2019, the company said for the first time this week. Operations at the new stations will begin in 2020.
A significant increase in ridership is expected once the new stations come online. Ultimately, they will generate more than two million new trips per year.
The company already has agreements with two cruise lines to market a new “train-to-port product,” which takes advantage of Virgin’s new connectivity with PortMiami.
Construction is already underway on an extension to Orlando, with service set to begin in 2022.
Virgin said it carried 83,741 passengers and generated total revenue of $1.7 million in July.
Not only does Miami currently rank first among the fastest growing cities in the United States, but it is projected to continue its dynamism even more due to the great investment opportunities of the largest capital groups worldwide, making it the best place to make real estate investments.
Source: Citylab