Top Companies Moving to Miami
Recently, Miami has become a hotspot for corporate relocations, attracting a slew of major companies from various industries.
Recently, Miami has become a hotspot for corporate relocations, attracting a slew of major companies from various industries. Many of these companies offer workforce mobility, allowing employees to work from home. Whether it is because of Miami’s favorable tax environment, thriving business ecosystem, or quality of life, there are many companies moving to Miami for some of these reasons.
Many companies help cover the cost of relocation expenses for their employees, making moving to Miami more favorable. This is a list of companies moving to Florida, or companies that have already relocated to South Florida, over the past few years.
Which Companies Are Moving to Miami?
Whether it is because of Miami’s favorable tax environment, thriving business ecosystem, or quality of life, there are many companies moving to Miami for some of these reasons.
Many companies help cover the cost of relocation expenses for their employees, making moving to Miami more favorable. This is a list of companies moving to Florida, or companies that have already relocated to South Florida, over the past few years.
Citadel and Citadel Securities
Citadel, a global financial institution, and its subsidiary, Citadel Securities, made waves in the business world when they announced their relocation to Miami in 2021. The decision was driven in part by Miami’s growing reputation as a financial hub and the favorable tax environment in Florida.
SH Hotel and Resorts
SH Hotels & Resorts, a prominent hospitality company known for its luxury hotels and sustainable practices, has also chosen Miami as its new corporate home. The allure of Miami’s thriving tourism industry and the city’s global appeal were key factors behind this move.
Nvidia
Nvidia, a leading technology company renowned for its graphics processing units (GPUs) and artificial intelligence technologies, expanded its presence in Miami in 2022. The city’s vibrant tech community and access to top tech talent played a pivotal role in their decision.
Uber
Uber, the ride-hailing giant, announced its plans to establish a significant presence in Miami in 2021. Miami’s strategic location in the southeastern United States and its growing importance as a transportation and tech hub were influential factors in this decision.
Amazon
While Amazon has not relocated its headquarters to Miami, the tech giant has significantly expanded its operations in the city. The company’s investment in Miami reflects the city’s potential as a logistics and distribution center for its e-commerce operations.
Tesla
Tesla, the electric vehicle and clean energy company led by Elon Musk, made headlines when Musk personally announced his move to Miami in 2020. While Tesla’s headquarters remain in California, Musk’s high-profile relocation highlighted the city’s appeal to tech visionaries.
Twitter, the social media platform, announced in 2021 that it was establishing a presence in Miami. The decision was part of Twitter’s broader strategy to tap into Miami’s growing tech and innovation ecosystem.
FundKite
FundKite, a financial technology company specializing in small business financing, moved its headquarters to Miami in 2022. The city’s growing fintech sector and access to a diverse talent pool in the financial industry were driving factors behind the move.
AerCap
AerCap, a leading aircraft leasing company, relocated its global headquarters to Miami in 2022. The city’s strategic location, with access to major airports and a burgeoning aviation industry, made it an ideal choice for AerCap’s operations.
- Florida experienced an 86 percent increase in corporations moving their headquarters into the state compared to those relocating their head offices out of Florida, leading the nation.
- Three cities in Florida, namely Jacksonville, Tampa, and Miami, were among the top 10 cities in America for corporate headquarters relocation.
- Ken Griffin, the founder of Citadel, one of America’s most valuable hedge-fund firms, announced the relocation of his company from Chicago to Miami last June due to Florida’s favorable tax structure and business-friendly environment.
Florida experienced the highest percentage of corporations relocating their headquarters to the state in America, according to data compiled by Hire A Helper from the U.S. Securities and Exchange Commission.
Florida had 86 percent more corporations move their headquarters into the state compared to the number of companies that chose to move their head office out of Florida, leading the nation, per the report.
Broken down by city, three cities in Florida are among the 10 with the highest net gains: Jacksonville (+67 percent), Tampa (+49 percent), and Miami (+33 percent).
According to the most recent figures, 8.9 percent of the approximately 6,700 publicly traded corporations in America moved their HQs in the past fiscal year (March 2022-March 2023).
Alongside Florida, Texas and Arizona attracted the highest number of corporate migrations, while Washington, New York, and California experienced the highest rates of headquarters abandonment.
Florida gained one of America’s most valuable companies last June when Ken Griffin, Illinois’ richest person and the founder of industry-leading investment firm Citadel, announced that he is relocating his company from Chicago to Miami, citing a more business-friendly atmosphere.
In a memo sent to employees, Griffin noted that Florida harbors a better corporate environment due to its favorable tax structure and lack of an income tax. The move is expected to be a multi-year process and will necessitate the construction of a new office building in the downtown Miami neighborhood of Brickell.
Citadel is one of the most successful hedge-fund firms, overseeing $51 billion in assets and regularly outpacing competitors and the market, making a swift recovery following the 2008 recession.
Griffin’s enterprise is estimated to be valued at $5 billion. Last January, Citadel Securities agreed to take its first outside investment in a deal valuing the electronic-trading operation at around $22 billion, a move seen at the time as a potential precursor to an initial public offering of the business, as first reported by the Wall Street Journal.
Why Do CEOs Like Miami?
As a CEO, you understand that strategic decisions regarding your company’s headquarters can significantly impact its success and growth. In recent years, Miami has emerged as a hotspot for corporate relocations, attracting companies from various sectors and industries.
While we’ve explored the reasons behind companies’ moves to Miami, it’s essential to delve deeper into why CEOs themselves are increasingly drawn to this vibrant city.
Miami’s appeal to CEOs extends far beyond the business realm. It encompasses a unique blend of lifestyle, opportunity, and innovation that makes it a compelling choice for those at the helm of their organizations. In this section, we’ll examine the specific factors that resonate with CEOs and drive their interest in making Miami their business home.
Favorable Tax Environment
Miami’s tax advantages are a significant draw for CEOs and businesses. Florida has no state income tax, which means that both individuals and corporations can enjoy substantial savings.
This favorable tax environment allows CEOs to maximize their company’s profits and allocate resources more efficiently.
Quality of Life
Quality of life is often an overlooked reason that there are companies moving to Miami.
Miami offers a high quality of life, which is attractive to both CEOs and their employees. The city boasts beautiful beaches, a tropical climate, and a vibrant cultural scene.
The availability of outdoor activities, diverse culinary experiences, and world-class entertainment make Miami an excellent place to live and work.
Global Connectivity
Miami’s strategic location as the gateway to Latin America and its well-established international connections make it an appealing choice for businesses with global aspirations.
The city’s proximity to major international markets simplifies international travel and facilitates trade with Latin American and Caribbean countries.
Thriving Business Ecosystem
Miami’s business ecosystem is thriving, with a burgeoning tech sector, a growing number of startups, and a strong presence of financial and investment firms.
This dynamic environment is one of the main reasons that there are so many companies relocating to Miami, as it fosters innovation and collaboration, offering CEOs access to valuable resources and networking opportunities.
Access to a Global Playground
Miami’s strategic location as the gateway to Latin America and its position as a global city make it an attractive destination for CEOs with international ambitions.
The city’s modern infrastructure, including world-class airports and a bustling port, facilitates efficient international travel and trade. This accessibility to international markets can significantly benefit businesses looking to expand their global footprint.
Furthermore, Miami’s multicultural and multilingual environment allows CEOs to tap into diverse networks and connect with international investors, partners, and customers. Whether your company targets Latin American markets or seeks to engage with global stakeholders, Miami’s global connectivity is a valuable asset.
Cultural Diversity
Miami’s diverse population and multicultural environment provide a unique advantage for businesses, which is why cultural diversity is a common reason that there are many companies moving to South Florida.
The city’s rich blend of cultures and languages can be leveraged to reach a wide range of markets, both domestically and internationally.
Access to Talent
Miami is home to several prestigious universities and colleges, producing a steady stream of graduates with diverse skills and backgrounds.
Additionally, the city’s growing reputation as a tech and innovation hub attracts top talent in the fields of technology, finance, and entrepreneurship.
Aquaman Movie Trends
Director James Wan argued that the choice to remove Amber from the trailer was a creative one, as the sequel was a “bromance” film
The Queen of the Deep has finally arrived! Fans get a brand new glimpse at Amber Heard as Mera in the newest television spot for James Wan’s Aquaman and the Lost Kingdom.
Aquaman 2 has mostly been marketed as a buddy-cop adventure film between Arthur Curry and his brother Orm to stop Black Manta from destroying his family. However, one key member of that family has been mostly absent from marketing: Mera. A fresh TV spot for the film features a blink-and-you’ll-miss-it scene of Amber Heard in the upcoming DC Universe project:
It’s no secret as to why Amber Heard has been all but absent from Aquaman 2 marketing. Even ignoring her reduced role in the film, the contentious nature of her legal battle with Johnny Depp has left Warner Bros. understandably wary about using her to market the sequel. Hopefully, those legal woes don’t impact the final splash of Atlantis in the DC Universe!
The future of the DC Universe
James Gunn and Peter Safran told journalists that their vision for the DC Universe includes locked scripts, wiggle room, and a unified storyline across film, television, animation, and video game projects. The two explained that the DC Universe could bring back elements from previous DC regimes, meaning that their eight-to-year plan is not a full reboot.
Jason Momoa filmed with multiple Batmans for Aquaman 2 – is this the beginning of DC's multiverse? | British GQ (gq-magazine.co.uk)
WarnerMedia/Warner Bros. Discovery unit (2018–present)[edit]
On February 21, 2020, the Co-Publisher of DC Comics, Dan DiDio stepped down after 10 years at that position. The company did not give a reason for the move, nor did it indicate whether it was his decision or the company's. The leadership change was the latest event in the company restructuring which began the previous month, as several top executives were laid off from the company.[100][101] However, Bleeding Cool reported that he was fired.[102]
In June 2020, Warner Bros. announced a separate DC-themed online-only convention. Known as DC FanDome, the free "immersive virtual fan experience" was a 24-hour-long event held on August 22, 2020.[103] The main presentation, entitled "DC FanDome: Hall of Heroes", was held as scheduled on August 22.[104] The remaining programming was provided through a one-day video on demand experience, "DC FanDome: Explore the Multiverse", on September 12.
As Warner Bros. and DC's response to San Diego Comic-Con's cancellation due to the COVID-19 pandemic, the convention featured information about DC-based content including the DC Extended Universe film franchise, the Arrowverse television franchise, comic books, and video games. The convention also returned for the virtual premiere of Wonder Woman 1984[105] and returned once again on October 16, 2021.[106]
In August 2020, roughly one-third of DC's editorial ranks were laid off, including the editor-in-chief, senior story editor, executive editor, and several senior VPs.[107]
In March 2021, DC relaunched their entire line once again under the banner of Infinite Frontier. After the events of the Dark Nights: Death Metal storyline, the DC Multiverse was expanded into a larger "Omniverse" where everything is canon, effectively reversing the changes The New 52 introduced a decade prior.[108]
Furthermore, AT&T spun off WarnerMedia to Discovery, forming Warner Bros. Discovery. This merger was completed on April 8, 2022.
In January 2023, DC is set to relaunch their line under the banner of Dawn of DC following the conclusion of Dark Crisis on Infinite Earths and Lazarus Planet.[109] Later that year, Jim Lee was promoted to President of DC in May