Greater Miami creates new businesses at a faster clip than anywhere else in the country and it attracted $1.4 billion in venture capital investment last year to support new ventures. Yet, nearly two-thirds of Greater Miami’s residents work in low-paying service jobs, more than the rest of the United States, and over 80 percent of companies in Greater Miami employ 1 to 9 employees and create less than 15 percent of total employment in the area. What’s more, between 2008 and 2017, Miami’s GDP per capita declined at a time when U.S. metro areas an average of 3%.
