The Miami-Dade Board of County Commissioners unanimously approved a landmark investment package to overhaul concessions at Miami International Airport (MIA) earlier this month.
The legislation secures a minimum guaranteed investment of $267 million, with an additional $64.5 million contingent on a lease extension—bringing the total potential investment to over $330 million.
The proposal was sponsored by Commissioner Danielle Cohen Higgins, Vice Chair of the Airport Committee, who, calling it “a transformative milestone for MIA,” says that the investment will secure MIA’s “status as the Gateway to Latin America and the Caribbean.”
“This historic agreement modernizes MIA’s concessions, expands dining and retail options, and secures long-term revenue for our community. Just as importantly, it opens doors for new businesses, giving local entrepreneurs a real opportunity to grow and succeed at one of the busiest airports in the world,” said Cohen Higgins in a statement.
Among the changes will be a shift to 63% food and beverage (F&B) and 37% retail.
The key provisions of the agreement also call for expanded opportunities for small and minority-owned businesses, ensuring greater participation in concession contracts and supporting local entrepreneurs, and a minimum investment of $850 per square per square foot for retail spaces and $1,000 per square foot for F&B spaces- nearly double current industry standards.
The modernization plan also calls for cutting-edge technology, including mobile ordering, AI-powered inventory systems, and multi-order point-of-sale options as well as strict enforcement of renovation deadlines and accountability from concessionaires.
Additionally, Commissioner Cohen Higgins is spearheading new Requests for Proposals (RFPs) for concessionaire opportunities in the upcoming Terminal K, as well as unleased spaces in the North Terminal and other high-traffic areas, with the goal to broaden vendor diversity and enhance MIA’s offerings with innovative, world-class brands.
This modernization plan is expected to generate approximately $1 billion in revenue over the 12-year term, reinforcing MIA’s role as an economic powerhouse for Miami-Dade County.
Additionally, the agreement ensures compliance with the county’s Living Wage ordinance, guaranteeing wages of at least $21.67 per hour, more than 60% above the state’s minimum wage.
“With record-breaking growth—56 million passengers and over 3 million tons of cargo in 2024 —MIA is at a pivotal moment. To stay competitive on the global stage, we must act decisively,” said Cohen Higgins.
