Francis X. Suarez, Mayor of Miami: "Our city is the happiest in the United States"

Of Cuban origin, the mayor of Miami – not to be confused with the Democratic mayor of neighboring Miami Beach – has nerve to spare. Taking advantage of the difficulties of San Francisco, where the quality of life has been deteriorating for several years, it is aimed, in the midst of the Covid pandemic, at the inhabitants of Silicon Valley and California. “Thinking of moving to Miami? DM me [NDLR : messagerie directe]”, he wrote on Twitter before posting the same slogan on giant panels. Big buzz! Another slogan, “How can I help?“ (How can I help you?), has become the signature of this ace of political marketing who intends to make his city the world capital of cryptocurrencies – and he is succeeding.

Dynamic and go-getter, the 45-year-old city councilor, whose father was the first mayor of the city of Cuban origin in the 1980s, receives L’Express in his town hall located in the heart of the old seaplane terminal of the mythical Pan Am Company.

L’Express: Miami is nicknamed “Magic City”. What’s so magical about it?

Francis X. Suarez: All ! It is a growing city that embodies freedom, hope, future and the continuation of the American dream – an ambition sadly neglected in some parts of the United States. Here, we cultivate a pro-business mindset which is partly explained by the strong Cuban presence. Cubans in exile have a clear idea of ​​the “American dream”. We come from a country whose leader [NDLR : Fidel Castro] wanted to achieve equality by forcibly transferring businesses and private property to the state. It worked perfectly! All Cubans have become equal… in poverty. Cubans, but also Venezuelans, Nicaraguans and other Latinos fleeing their countries know it: socialism never works. Nowhere. We are not at all happy about the slump in Latin America. But in Miami, it is true that we benefit from it. The living forces and the Latino capitals take refuge with us.

Beyond this phenomenon, what explains the power of attraction of the city?

The first ingredient is taxation, which is much more advantageous here than in New York or California. Neither Miami nor Florida tax earned income. Taxpayers are subject to federal tax, and that’s it. In New York, the highest tax bracket is taxed at 54 cents on the dollar; in Miami, it’s 37 cents. In San Francisco, it’s like in New York. That’s why our Silicon Valley ad campaign to entice tech people to move to Miami is working.

Our city, which promotes innovation, attracts talent. Our attitude is the opposite of that of New York which, in 2019, did not want Amazon to set up shop there… despite 50,000 jobs at stake! Aberrant. Add to that the confinement, the wearing of the compulsory mask, the deterioration of the quality of life and certain remarks by the mayor of New York, Bill de Blasio, perceived as “anti-cop” and you will understand why the latter has been nicknamed “best real estate agent of Miami”.

For the third year in a row, we have been named “the happiest city in the United States”. Here, people work, play sports, are happy and healthy. Crime is low, unemployment is ridiculously low (1.4% in November 2022), wages are rising, real estate is growing. In 2021, the housing stock increased by 12%, the highest figure in history after the record year of 2015 (+13%). We have become a world city that rivals Dubai, Singapore, London, Tokyo, Seoul. Miami is irresistible!

How many people from Wall Street did you manage to bring in?

I will rather give you the amount of Assets Under Management (AUM), that is to say the assets managed by financial institutions that have moved to Miami in recent years: 2.5 trillion dollars! Investment firms like The Vanguard Group, Blackstone, Dunn Capital, Tiger Global, Starwood Capital – and, possibly soon, BlackRock – are here.

Miami is positioning itself as “the capital of cryptocurrencies”. What benefit can she derive from it?

Crypto is not just good for Miami; they are for the United States. Provided they are well managed and supervised, innovation and new technologies always have a positive effect. In Miami, an ecosystem is being created around the metaverse and Web3. As far as I am concerned, I receive my elected allowances in bitcoins. The world is going digital. This turning point, comparable to the transition from agricultural society to the industrial world, only occurs once or twice a century. The consequences will be enormous. Cities that do not anticipate this change will meet the same fate as Detroit, once one of the most prosperous cities in the United States and now in decline.

How do you approach the challenge of climate change?

Three phenomena are now recurrent: deadly hurricanes, like last September (more than 150 victims), “rain bombs” (rainbombs), which are heavy, sudden downpours, and “dry weather flooding”, or sunny day floodings, linked to sea level rise and high tides. Are we ready? To tell the truth, no city in the world is. But Miami has taken the lead over the other metropolises of America. We are improving our infrastructures, we are raising buildings, we are fortifying the sea fronts, we are installing pump systems to evacuate flood water, we are securing our reservoirs so that we are never short of drinking water.

Will you be a candidate for the Republican Party primaries in view of the race for the White House?

I am flattered that I am regularly asked this question. This is undoubtedly due to the success of Miami, whose model (innovation, taxation, security) can be transposed on a national scale. One certainty: a desire for new blood runs through society. The Republican candidate could be someone from my generation. I am waiting to see how the political situation develops.