America’s next chapter of growth is being written in Florida, says the Florida Council of 100. The initiative aims to fuel the ongoing migration from high-tax, less business-friendly states to the Sunshine State, which has already seen dramatic success in attracting both established firms and startups.
The organization is not very new, having been established in 1961 by the then-Governor Farris Bryant. Its membership comprises over 200 companies that employ more than 1.3 million residents.
What is new is a $10 million commitment announced this week, labeled “Ambition Accelerated“, a campaign to highlight Florida as the center for the next generation of American growth.
According to a statement issued by the organization, Related Ross CEO and Chairman Stephen M. Ross and Citadel Founder and CEO Ken Griffin provided the new funding. Both executives started their firms elsewhere in the North and later relocated to Florida.
Citadel was previously based in Chicago, but as local politics entered a period of dire decline and the city experienced a rise in violent crime, Griffin moved to Miami, embracing the state’s accomplishments and low state taxse, combined with effective services, including safety. He has since become one of the state of Florida’s leading champions.
Ross says it is clear to him that Florida’s Gulf Coast, from West Palm Beach to Miami, offers an obvious advantage to the rest of the country. And it is not just the weather:
“This region offers a clear competitive advantage — a strong operating environment, a flourishing innovation ecosystem, and public leadership that works constructively with the private sector. This combination of factors helps companies based on Florida’s Gold Coast outperform competitors based elsewhere,” says Ross.
Griffin notes that when building a business, you have to understand how much time you must commit to navigating bureaucracy:
“Miami and the broader South Florida Gold Coast offer deep talent, regulatory clarity, and an extraordinary quality of life. These are not secondary considerations; they are foundations for long-term success, and their impact compounds over time.”
The Florida Council of 100 will promote the state, targeting founders and investors while engaging with CEOs
Mike Simas, President and CEO of the Florida Council of 100, says businesses can hire, operate efficiently, and scale better in Florida. He is working to promote the region’s benefits.
The group shares the following data points on Florida’s Gold Coast:
- #1 in GDP growth over the past 3 years, compared to major metropolitan regions
- #1 in new business formations per capita among major metropolitan regions
- #3 in talent attraction among major metropolitan regions
- #5 in tax competitiveness among populous states. And no state income tax
- Gas and utility costs on Florida’s Gold Coast are up to a third more affordable than in other major metropolitan regions
- Florida ranks #2 for the fewest business regulations per capita in the nation
- Florida ranks #1 in higher education
Recently, much attention has been pointed at states like New York and California. In New York City, the new Mayor is a socialist and is doing his best to chase away innovators and businesses, obtusely reducing tax revenue that fund city services.
California, already the highest-tax state in the US, has proposed a confiscation tax targeting affluent investors and innovators. It has been reported that more than $1 trillion in wealth has fled the state in advance of the tax, with many relocating to Florida and others planning to follow.
Regarding financial services, Florida is gaining a reputation as Wall Street South. Many financial services firms have relocated or opened significant operations in the state, recognizing the transition.
For Fintechs, estimates indicate more than 500 startups across Miami-Dade, Broward, and Palm Beach counties.
For quite some time, the San Francisco Bay Area has been known as the hottest innovation hub in the country and the world. But it appears that politicians have taken this golden goose for granted, and now the region is at risk of undermining its own best interests. Florida and several other states, such as Texas, have become the main beneficiaries of misguided policymakers.