Why Miami is a great place to build

Why build in Miami? Are you curious why people are gravitating to South Florida? Led by our super-talented summer intern Anastasia Sirytsyna, our team outlined the basics for you below on why we think this region continues to prove a worthy host for innovation and ingenuity.

• Florida added more tech companies to its roster than any other state in 2021. While there are already many incredible enterprise companies based in South Florida, even more companies are flocking to the area — either as a landing pad to begin their enterprise or as a place to expand or relocate. In 2022, 57 enterprises and brands either relocated or expanded to Miami-Dade County. Global banking giant Rothschild & Co signed a lease for its first Miami office this year — a testament to the feasibility of conducting financial operations from the sunshine state.
• According to Pitchbook, there were 27 VC firms that opened or moved to Miami in 2022 and 2023. With Miami-Dade Mayoral offices so supportive of tech and business growth, the conditions and atmosphere for building in Miami has never been better. Pro-venture Mayor Suarez has launched a “Miami Mayor’s Innovation Challenge” as he aims to maximize Miami’s globally advantageous position to act as a major financial, innovation, and investment hub.
• It goes without saying that Florida is tax-friendly. No state income tax has obvious benefits, and the deal is further sweetened by various programs that are advantageous, including a Miami-based VC incentive and tax credit program.
• In terms of culture and quality of life, Miami is not lacking. It is the most international city in the US — about 51% of the resident population is foreign-born. You have access to a global community, with all the inspiration that comes along with it. The beaches, the weather — as the only major subtropical city in the continental US, sunny days abound year-round.
• The city of Miami continues to prove its intention to protect against environmental changes and challenges, having passed a $400 million-dollar “Miami Forever” bond to find ways to defend the city against flooding and sea level rise.
• Miami is The dining scene is booming with 50 restaurant openings in May 2023 alone. Miami is home to eMerge Americas, Miami Tech Week, Miami Blockchain Week, and of course, Miami Art Basel. With unbelievable athletic talent, incredible music, burgeoning art scene — Miami is gaining serious intrigue and credibility beyond South Beach and its stunning beachfront. There is an ever-growing ensemble of things to do and see.

Need convincing? Talk to our team, chat with Florida-based founders, and come for a visit to see for yourself! Miami will welcome you, any time you’d like.