Jesse Scheckner
A transportation and logistics company with plans to build its global headquarters in Miami-Dade and add 525 new, good-paying jobs there has been cleared to receive $7.5 million in county cash for the undertaking.
Details about the mystery company, called “Project Hometown” in documents from Miami-Dade Mayor Daniella Levine Cava’s Office, suggest it could be Ryder Systems Inc., which was founded in, and still operates out of, the county.
Ryder sold its headquarters in northwest Miami-Dade in May 2023 and relocated to two floors of an 11-story building Coral Gables it rechristened the Ryder Colonnade. At the time, the company said it had 50,000 employees across North America, including 800 South Florida-based office employees.
A memo from Miami-Dade Chief Innovation and Economic Development Officer Francesca de Quesada Covey said “Project Hometown” plans to consolidate its “various national operations” into a 550,000-square-foot global headquarters in the county’s unincorporated area — meaning that if the company is indeed Ryder, it intends to break its long-term Coral Gables lease.
The company said it will spend $450 million on capital improvements at its new facility, which the county expects will generate more than $17.3 million in property tax revenue over 10 years. New employees there are expected to receive annual salaries averaging $135,000, plus benefits valued at $10,000 apiece.
Miami-Dade anticipates a net positive fiscal gain of $9.8 million from the arrangement by 2036.
A “Project Hometown” summary sheet said the company will hire 525 new employees over seven years while retaining 1,100 existing ones. The company will try to hire locally, the sheet said.
Miami-Dade Commissioners unanimously approved the $7.5 million incentive without discussion Wednesday. Kevin Marino Cabrera, who represents Coral Gables at County Hall, sponsored the authorizing resolution. He’s set to leave the dais soon for an Ambassador role under President Donald Trump, whose company won approval last week for a plan to build 1,500 luxury condos in Doral.
“Project Hometown” had also considered relocating its base to Los Angeles or New York City, de Quesada Covey said.
The funds are to come through Miami-Dade’s Targeted Jobs Incentive Fund (TJIF), which provides financial assistance to “companies in select industries” that spend at least $3 million to expand in the county while adding 10 or more above-average-paying jobs.
As with other TJIF payments, Miami-Dade will not give “Project Hometown” cash until the company makes its capital improvements, hires and retains its new employees, and pays the county property taxes.
Construction of the company’s new headquarters is set to begin in Fiscal Year 2025-26.
