South Florida Launches Campaign to Attract Major Companies from California and New York

South Florida business leaders launched a nationwide campaign called “Ambition Accelerated” to attract major companies from California and New York to Southeast Florida. The initiative was unveiled at a financial conference in West Palm Beach, featuring prominent figures, including BlackRock’s COO and billionaire Stephen Ross.

Campaign Highlights Tax Benefits and Lifestyle Advantages

The campaign was introduced at an inaugural financial conference at CityPlace, where speakers emphasized Florida’s business-friendly environment. Ross told attendees that the region is “on fire for growth,” citing Florida’s lack of red tape compared to other states, its no-state-income-tax policy, and its quality of life as factors driving significant change, according to WPTV.

Florida has been attracting companies and high-net-worth individuals from higher-tax states for years, but the “Ambition Accelerated” campaign represents a coordinated effort to accelerate corporate relocations. The state’s tax structure, which includes no personal income tax and a lower overall tax burden compared to states like California and New York, has been a major draw for businesses seeking to reduce operating costs and attract talent.

Florida is one of the fastest-growing states in the country. Much of this growth has been concentrated in South Florida, where major financial services firms, technology companies, and investment funds have established offices or relocated headquarters.

Growth Brings Affordability and Infrastructure Concerns

While the campaign emphasizes the benefits of relocating to South Florida, speakers acknowledged that rapid growth creates challenges for existing residents and infrastructure. Eric Silagy, vice chairman of Related Ross, told WPTV that growth requires active management to ensure that everyone benefits. “We all have to be involved in finding ways that everybody can benefit from growth, from jobs and the opportunity to provide the next generation with more opportunities than what we’ve even had today,” Silagy said.

Concerns about affordability have become more acute as South Florida’s population and economy have expanded. Housing costs have increased significantly in recent years, and some long-time residents worry about being priced out of the market. Commercial real estate costs have also risen, putting pressure on smaller businesses and service providers that support the region’s economy.

Mike Simas, president and CEO of the Florida Council of 100, emphasized the importance of combining private and public resources to address growth challenges. “When you think about transit, infrastructure, housing, water, a big issue that we think about at the council, it’s the gold of the next generation. And then resiliency after storms,” Simas told WPTV. “Getting all of that right matters to people. When you aggregate resources like we’ve got in the private sector, you can only multiply the value.”

Miami’s median home price increased by 38% between 2020 and 2024, outpacing national averages and making homeownership less accessible for middle-income families. Similar trends have been observed in Fort Lauderdale, West Palm Beach, and other South Florida markets.

What Corporate Relocations Mean for South Florida’s Commercial Real Estate Market

The push to attract major companies to South Florida is already affecting the region’s commercial real estate market. Demand for office space, industrial facilities, and mixed-use developments has increased as companies establish or expand operations in the area. This has driven up lease rates and property values, creating opportunities for developers and property owners while also raising concerns about affordability for smaller tenants.

Financial services firms, technology companies, and investment funds have been among the most active relocators. These businesses typically require high-quality office space, access to airports and transportation infrastructure, and proximity to talent pools. South Florida’s established financial district in Brickell, growing tech presence in West Palm Beach, and expanding office markets in Fort Lauderdale have all benefited from this trend.

For commercial property owners and developers, the “Ambition Accelerated” campaign signals continued demand for office, residential, and mixed-use projects. However, the campaign’s success will depend on whether the region can address infrastructure challenges, including transportation, water resources, and storm resilience, while maintaining affordability for existing residents and businesses.

Infrastructure and Resilience Challenges

South Florida’s growth is occurring in a region that faces unique infrastructure challenges. Transportation networks are strained by increasing traffic, water resources require careful management, and hurricane risk demands investment in resilient construction and emergency preparedness.

The Florida Council of 100 and other business groups have emphasized the need for coordinated public-private investment to address these issues. Without adequate infrastructure to support population and economic growth, the region risks losing the competitive advantages that have made it attractive to relocating companies.

For real estate developers and property owners, understanding how infrastructure investments and resilience planning will shape future development patterns is essential to making informed decisions about where and how to invest.

Make business decisions backed by insight, not speculation.

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