Miami Mayor's Three Step Formula that Made It the Happiest and Healthiest City in America
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Episode Description
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Brief Summary
Mayor Francis Suarez shares Miami's success formula: low taxes, safety, and innovation leading to economic growth and reduced crime.
Key points
- The Road Map to Success. Francis Suarez outlines his formula for a thriving city: low taxes, safety, and innovation.
- From Bankruptcy to Prosperity. In 2009, the city faced bankruptcy, but strategic decisions led to 10 years of prosperity.
Transcript
We were ranked the happiest city in America, the healthiest city in America. If you had to lay out the road map for other cities, but frankly for other states, the rest of the country, what's the road map? The Francis Suarez road map. The formula for success is simple. Keep taxes low. Keep people safe. Lean into innovation. I lower taxes to the lowest level in history. And we've seen 140% growth in 9 years. So, the economy is robust. We have the lowest unemployment in America. We have the highest median wage growth in America. Frankly, if you're happy, you're healthy, and you're working, you're probably not homeless. And I took the city in 2009 as a councilman out of
bankruptcy. We decided not to raise taxes. We cut costs. We didn't let anyone go, but we had tiered salary cuts, pension reform, and we balanced our budget. And we had 10 years of prosperity. And that prosperity led to a tripling of the size of our government. So we went from a $500 million government to a billion and a half dollar government while lowering taxes. When you have a place where there's prosperity and where people are investing and where people are employed, there's not as many social problems. So they're not out there killing people. the 1980s, we were one of the murder capitals of America and we're now one of
the safest big cities in America. This formula for success, what seems simple, other cities are getting it wrong completely backwards, right? Their taxes are high. It's not safe.
