In addition to the transportation benefit of providing public transportation to other centers of employment in the region, the Miami Intermodal Center (MIC) Program has the potential to contribute significantly to the local economy.
In January 1999, a section of Miami-Dade County, including the MIC's site area, was designated by the federal government as an Empowerment Zone. This designation helps businesses within the zone provide more jobs and promote community revitalization through individually tailored tax incentives and encourages companies to locate and hire additional workers.
That same year, the Florida Legislature recognized the Empowerment Zone designation given to the county and deemed the zone as a State Enterprise Zone as well. In addition, the county was given permission to create the local Miami-Dade County Enterprise Zone. In essence, the state and local governments were encouraging economic growth and investment through incentives in and around the MIC's site area.
Later that year in September, the MIC Program was designated a Project of National Significance by the federal government under the Transportation Infrastructure Finance and Innovation Act because of its noteworthy safety, environmental and economic benefits, and its strategic location in support of international commerce.
The development of the MIC Program will create construction jobs as well as permanent retail and service jobs. It is estimated that nearly 76,000 jobs will be created to construct the entire program, and 22,000 permanent jobs will be created to operate the facilities associated with the MIC. Included in this projection are new employment opportunities that will be made possible by new retail and industrial support services. All such business opportunities will benefit from the MIC's location in the federally designated Empowerment Zone and state/county designated Enterprise Zone.
A Joint Development program has also been established for the MIC to capture the economic development potential in the area. This development will also enhance the functionality of the MIC by encouraging ridership on the various methods of public transportation serving the MIC. Visit the Joint Development page for more information.