Microsoft, Amazon, and now Apple are also reportedly increasing their presence in South Florida.
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00:00The ultra-wealthy and their businesses are beginning to move their millions to Florida.
00:04The Sunshine State is now home to some of the nation's highest-profile brands across
00:08various industries. Citadel and Citadel Securities have made Miami their permanent headquarters,
00:13and JPMorgan Chase CEO Jamie Dimon used his annual shareholder letter to highlight the
00:18renovation of the company's Tampa offices and the $210 million it will add to the local economy.
00:24Microsoft, Amazon, and now Apple are also reportedly increasing their presence in the area,
00:29and Amazon announced a hunt for office space following Jeff Bezos' move from Seattle.
00:34Key factors like Florida's lack of a personal income tax,
00:37tropical weather, and pool of high-caliber talent are big draws for corporations.
00:42Dimon recently said New York is obviously still the financial center of the world,
00:47but warned the powerhouse could lose its crown if it's not careful.
00:50Data by EIG found that during the pandemic, $16.5 billion in taxable income flowed out of
00:56Manhattan and $4.6 billion if it was bound for Florida. Florida was the biggest beneficiary of
01:02inflows between 2020 and 2021, raking in an additional $39 billion from inhabitants moving
01:08from other states.