Miami is now one of the fastest growing cities in America for new businesses, according to a study from LinkedIn.
According to LinkedIn’s analysis, new company formation in the Miami area surged 45% during the pandemic.
Miami now ranks second nationwide for new company formation. All three of the top cities are in Florida, with Orlando barely nudging out Miami for the top spot by 1%.
For the study, LinkedIn looked at company formation rates between the pre-pandemic (July 2018 to July 2019) and mid-pandemic (July 2020 to July 2021) periods to calculate each city’s growth rate.
Business formation dates were based on timelines listed in the profiles of LinkedIn members.
The top industries for new companies formed in Miami were entertainment, finance, and manufacturing, LinkedIn said.