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<br />The largest employer in Miami-Dade County is the Miami-Dade County School Board, followed by
<br />Metro-Dade County, Federal Government, State of Florida, American Airlines, University of Miami,
<br />Jackson Memorial Hospital, Baptist Health Systems of South Florida, Bell South, and Florida Power
<br />and Light. Assuming additional importance is the growing prominence of Miami-Dade County as
<br />a center for international trade, finance and tourism. The establishment of Miami as the "Gateway
<br />of the Americas" should provide the area with a much needed degree of economic diversification,
<br />This should enable Miami-Dade County to weather slowdowns in the national economy by an
<br />increase of trade through the Port of Miami, growth of international arrivals at the airport, the Free
<br />Trade Zone, and the substantial foreign investment in the local economy, particularly in real estate.
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<br />Prior to September 11,2001, Florida's unemployment rate was 4.3 percent, up from 3.6 percent of
<br />the previous year, but still below the national average of 4.9 percent. In August of 2001, the
<br />unemployment rate for Miami-Dade County was 6.0 percent. Miami-Dade's jobless rate for
<br />November 2001 rose to 7,8 percent while Florida's unemployment rate rose to 5.0 percent. The
<br />September 11, 2001 event had a greater impact on tourism in Miami than the rest of the state.
<br />Miami-Dade County's jobless rate fell slightly to 7.6 percent in December of2001. The tourism
<br />season, now in full swing, could provide a welcome respite,
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<br />Income
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<br />Over the past few years, the average per capita personal income in Miami-Dade County has been
<br />slightly lower than the per capita income for Florida, as well as the nation.
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<br />TABLE 2
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<br />PER CAPITA PERSONAL INCOME
<br />SELECTED YEARS (CURRENT $)
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<br />Source: u.s. Dept. of Commerce, Bureau of Economic Analysis and Miami-Dade County Planning Department
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<br />Tourism
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<br />Table 3 reveals a steady increase in the number of tourists visiting Miami-Dade County since 1990.
<br />The number of international visitors increased approximately 100% from 1985 to 1995. Due to the
<br />soft domestic economy, the number of domestic visitors had declined from 1989 to 1993; however,
<br />since 1995 there has been a 1.5% average annual increase,
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<br />QUINLIVAN APPRAISAL
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<br />11
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