Miami Mayor Francis Suarez is actively engaged in transforming the city into a new technological hub, taking advantage of the exodus of technology companies from Silicon Valley. Florida offers an attractive tax environment compared to most other states in the US (exempt from state income tax). At the same time, California has been criticized for its excessive bureaucracy and high taxes. With that, Miami is being seen as the new Eldorado of technology companies.

Miami: The New Silicon Valley

Not only companies in the Tech Industry are looking for more receptive tax environments and a pleasant weather year-round for their employees and collaborators. Last week we reported in this blog that Wall Street giant Goldman Sachs has also joined another “exodus” that the US is experiencing: banks, funds and financial institutions are switching from New York to Sunshine State.

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