The Miami-Dade Board of County Commissioners has approved a minimum of $400 million in private investment for the construction of a new cargo facility at Miami International Airport (MIA). This project, which will be the first of its kind in the Western Hemisphere, will increase the airport’s total cargo capacity by at least 50%.
The new facility, scheduled for completion in 2029, will bring MIA’s total cargo capacity to a minimum of 4.5 million tons, with the potential to reach up to five million tons. This expansion is crucial to maintaining MIA’s status as America’s busiest international freight airport, preventing the airport from reaching capacity, which was projected to be reached by 2041 without this construction.
The future Vertically Integrated Cargo Community (VICC), spanning nearly 800,000 square feet on 11 acres of airport land, will have a significant economic impact on the region. According to the company, 8,500 temporary jobs will be created, generating a total of $500 million in wages over five years of design and construction. Additionally, 2,500 new permanent jobs with annual wages of $100 million are expected post-construction, along with a minimum of $512 million in rent and business revenue for Miami-Dade County’s Aviation Department over the 40-year agreement.
The VICC facility will be a sustainable, environmentally friendly building, achieving a silver Leadership in Energy and Environmental Design (LEED) certification and a silver certification from Global Infrastructure Basel under SuRe standards for sustainability and resiliency.
“This is great news for our community and our economy. MIA is our largest economic engine, generating thousands of jobs for our residents and significant income for many of our leading industries, from tourism to small businesses.” said Miami-Dade County Mayor Daniella Levine Cava.
“The VICC is one of the many historic investments being made at MIA to modernize and transform every facet of our operations, including everything from maintenance upgrades and renovations in our terminal to the construction of a new parking garage, four-star hotel, and expanded concourses.” added MIA Director and CEO Ralph Cutié.
The lease agreement approved by the Miami-Dade Board of County Commissioners includes a requirement that at least 60% of the design and construction firms be headquartered in Miami-Dade County and hire registered small businesses during all project phases.
