Multinationals influx spurs Coral Gables economy

Coral Gables is gearing up for a bustling spring and summer season with events to promote local businesses and the influx of major multinational corporations such as FIFA, Ryder and Apple into the city.

Nearing its 100th anniversary next year, Coral Gables is home to over 10,000 businesses and continues expanding as an international business hub.

In preparation for the anticipated growth, the Coral Gables Chamber of Commerce is focused on key issues like new corporate arrivals, small business summits, welcome center tours and furthering advocacy efforts with local leaders.

Mark Trowbridge, president and CEO of the Coral Gables Chamber of Commerce, said that corporate growth is a top focus with the relocation of FIFA, Ryder and Apple all happening this spring and summer.

The latest multinational corporation moving into the city is tech giant Apple. While details have yet to be released, the company recently signed a 42,000-square-foot lease on the 11th and 12th floors of the Plaza Coral Gables’ north tower, according to a Cushman & Wakefield office market report.

Coral Gables is also welcoming FIFA, the body governing international soccer, to a permanent office at the 273,000-square-foot 396 Alhambra building that currently houses well-known tenants such as Citibank and Mondelez International.

“They’re hiring locally, but they’re also relocating about 100 jobs from Switzerland to Florida,” said Mr. Trowbridge. “So, a very fascinating aspect of this move is that they’re relocating folks, and they’re hiring local.”

Other new arrivals include the Ryder Corporation, a leader in supply chain, dedicated transportation and fleet management solutions.

The company has leased two floors at the Colonnade office tower at 2333 Ponce de Leon Blvd., just steps from Miracle Mile in the heart of the city’s Central Business District. It will be home to roughly 800 South Florida-based employees, many of whom will remain working remotely or in a hybrid-work capacity.

Besides welcoming major corporations, Coral Gables is organizing several events to promote small businesses. In addition to its monthly IMPACT series at Flemings Steakhouse, the city’s chamber of commerce is hosting its annual Small Business Summit on May 1 at the Actors’ Playhouse.

The summit is geared toward local entrepreneurs, start-ups and small businesses, connecting them with network opportunities and resources to thrive in Miami’s ever-expanding economy.

The chamber’s welcome center also hosts monthly walking tours to showcase the city, its history and architecture as well as foodie tours to promote local restaurants. A complete list of upcoming events can be found online at coralgableschamber.org.