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Miami International Airport To Spend $1.45 Billion On Improvements Over The Next Three Years

Miami International Airport is about to begin $1.45 billion worth of short term improvements over the next three years.

Some of the improvements will include a post-security connector between Concourse E and F, new hardstands and apron areas, cargo facilities, and other projects designed to improve efficiency.

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Miami’s Global Reputation As A Global City Growing

Miami has long been marked as the Gateway to Latin America. But with a revitalized urban core and a hot retail market, Miami is increasingly being seen worldwide as a global city.

Miami hit a tipping point, per se, a couple of years ago and the growth has yet to slow. With nearly 6 million residents and an economic output of more than $300 billion, Greater Miami is one of the largest economic regions in the US and the world. In fact, Miami is comparable to Singapore and Hong Kong, according to a study from the FIU-Miami Creative City Initiative.

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MIA Foreign Trade Zone Cleared For Landing

The Miami-Dade Aviation Department (MDAD) gained final approval from the US Department of Commerce to designate Miami International Airport‘s entire 3,230-acre land parcel as a Foreign Trade Zone (FTZ) magnet site.

The magnet site designation allows existing or prospective airport tenants to operate manufacturing, warehousing and/or distribution centers on airport property, and have their federal tariffs deferred, reduced or eliminated – providing time and cost savings for approved importers and exporters.

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