David Packouz

The ‘Economist’ finally caught up to Miami. The city where power came to play is now where power lives. And the numbers in this piece are wild. Miami’s metro economy grew 23% from 2020 to 2024, almost twice the national rate. Central Miami’s economy is now roughly half the size of Manhattan’s. Fifteen years ago, it was a quarter. More than 150 financial firms have moved here. Shout out to @FrancisSuarez for his leadership on this. I’ve lived here almost my entire life, so this headline means something to me. The article is also honest about the next part. Rents are higher than New York. Prices have jumped nearly 40% since 2020. Florida spends less on research than every other top-ten state economy. And a low-lying coastal city can’t shrug off climate risk. None of that makes me less bullish. It makes the assignment clearer. We have to make it possible for working families and young builders to stay, put real muscle behind universities, research and homegrown companies, and build infrastructure and resilience with the same urgency we bring to towers. New capital found a city generations of immigrants and entrepreneurs had already made global. Now we have to make this boom last AND make sure the people who built Miami can still see themselves in its future. I would never bet against Miami or Florida 🇺🇸