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"The South Florida Gold Coast offers deep talent, regulatory clarity, and an extraordinary quality of life,β Ken Griffin, Citadel founder and CEO, said.
Major corporations continue shifting headquarters and key operations to Florida's Gold Coast, spanning from Palm Beach County down through Broward County and Miami-Dade County. They are drawn to the state's longstanding lack of personal income tax, business-friendly regulations, and appealing quality of life that contrasts sharply with higher-cost, higher-tax hubs like California, Connecticut, New Jersey, and New York.
In bustling and bucolic Boca Raton, Related Ross Chairman and CEO Stephen M. Ross is developing a highly desirable office district. His company purchased the entire Boca Raton Innovation Campus (BRIC), a 124-acre, former IBM facility. Two buildings are over 90% leased, and the most recent significant signing was for D-Wave Quantum, which relocated its headquarters from Palo Alto to Boca Raton.
Hedge-fund titan Ken Griffin is donating $3 billion to start a Carnegie Mellon University campus in Miami, part of the largest-ever individual gift toward higher education. The donation helps advance Griffinβs aim to establish South Florida as a leading global-business and tech hub. Meanwhile, Ross is spending millions to bring a Vanderbilt University campus to West Palm Beach to help supply the talent, research, and startups to keep the cycle going.
Initiatives like "Ambition Accelerated," a multimillion-dollar campaign backed by Ken Griffin and Stephen M. Ross, call on CEOs, billionaires, and entrepreneurs to bring and build their businesses in Florida. Tech data analytics firm Palantir left Denver for Miami. Wells Fargo became the first major bank to relocate its wealth management headquarters to West Palm Beach. Goldman Sachs bolstered its Palm Beach County presence. Investment firms like Apollo Global Management are eyeing a second U.S. headquarters in South Florida.
Florida emerged as the premier destination for corporate relocations, with over 74 major company headquarters and more than 200 investment firms moving to the Miami-to-Palm Beach Gold Coast corridor since 2020. It's a structural relocation of the American financial services industry from Manhattan. The Gold Coast's country clubs, featuring award-winning amenities and world-class dining, golf, tennis, and pickleball programs, serve as the setting for those seeking their slice of paradise.
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