In May, 2012, American Broadcasting Company (ABC) and Univision announced a tentative joint venture for a 24 hour, English language, cable, news network. Finalizing the tentative joint venture involved, among other things, identifying the headquarters for the joint venture. As confirmed by Univision Networks President, Cesar Conde, the new, yet to be named, joint venture will be headquartered in the city of Doral (Miami-Dade County) Florida which beat out New York, Houston, and Los Angeles as potential headquarter locations.
The joint venture is a pairing of the country’s largest Spanish-language broadcaster with ABC’s news division. Cesar Conde said, “If there is a place to have a 24 hour network for Hispanics, its Miami. I think it is fantastic and I think it is a natural. The impact and increasing influence from the Latino community is something that has been growing across political and social economic cultural fronts.”
The Beacon Council helped ABC and Univision secure $3.5 million in local Targeted Jobs Incentive Fund subsidies. The Targeted Jobs Incentive Fund is an initiative established by The Beacon Council and Miami-Dade County, patterned after the State of Florida Qualified Target Industry Tax Refund Program. The intent of the program is to attract out-of-area businesses and encourage expansion of existing local companies by providing cash incentives. A business is required to create a certain number of jobs and must also generate enough new revenue to Miami-Dade County to fund its’ Targeted Jobs Incentive Fund benefits.
The joint venture is projected to create approximately 350 new jobs over a four year period with an average salary of those jobs of $81,110.00. The network will build a 150,000 square-foot headquarters that will be welcomed by the construction industry in South Florida. The projected new property taxes over seven years are approximately $5.6 million and when offset by the $3.5 million subsidies, the net revenue benefit to Miami-Dade County over seven years is approximately $2.1 million.
Cesar Conde has said, “For more than five decades Univision has been the leader in serving Hispanics in the United States, and this joint venture is an extension of our vision to deliver the most relevant news and information, regardless of language, to all Hispanics. This alliance combines the expertise and brand strength of Univision News with the leadership of ABC News and is another example of Univision’s commitment to serving and empowering Hispanic America while connecting to all audiences to Latino issues.”
The new joint venture will launch online before the end of this 2012 and will be airing on cable and satellite by the summer of 2013. For South Florida, the addition of this new joint venture will bring the welcomed addition of new jobs and tax revenue.
The network will offer programming in English that is designed for a Hispanic audience that does not speak English, in addition to the interest of non-Hispanic audiences in the Hispanic community, culture and what is influencing Hispanics.
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