The dust has not settled on the reform of Florida's Growth Management laws and already things are looking up for Florida land development. Bayfront 2011, a subsidiary of Genting Malaysia Berhad, has just announced that it has purchased 13.9 acres in the heart of downtown Miami for $236 million.

These foreign investors are planning on assisting in bringing even more tourist dollars into South Florida by building Resorts World Miami, a mixed-use development that will include a hotel, restaurants, shops, convention facilities, and other entertainment and commercial venues.

Short Term and Long Term Economic Benefits from Foreign Investment

Short term, Miami will benefit from all the construction jobs that this new undertaking will require. Plumbers, welders, HVAC experts, bricklayers, and other subcontractors will benefit in the upcoming months, and later there will be all sorts of jobs for workers in the hotel, the shops, the cafes.

Another long term benefit: the development will attract tourists from all over the world to our local community - to spend their money, and thereby boost our economy.

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