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Pandemic restrictions and high taxes caused many tech and finance entrepreneurs to move to Florida. For the past year, there has been a huge tech and financial wave in Miami. Last December, Miami Mayor Francis Suarez implied his support in a tweet that went viral. When somebody said that Silicon Valley should be moved to Miami, the Mayor responded with “how can I help?.” Since then, it is hard to know how many companies have announced relocations to the Magic City. In fact, nearly every day brings an announcement of a new tech and financial relocation.
In a recent interview with the Mayor, he explains that this tech and financial wave in Miami is becoming a huge movement. According to Suarez, this new movement will directly and indirectly benefit South Florida’s residents. He explained that this movement will drive growth into the economy. In addition, this is not like other migrations South Florida has experienced. The mayor said that “this is not a moment, this is a movement.”
In the past, Miami has been known to receive temporary residents, such as new yorkers, flocking to the area during the winter. According to the mayor, this is a much more permanent migration. Companies and employees who are following the tech and financial wave in Miami are here to stay. In fact, a lot of them are making this a permanent move, and there is data to support this. A lot of the newcomers have filed driver’s license applications, buying homes, registering their children to schools in the area, and signing leases. These are all signs of a commitment to staying in the city.
Read the Mayor’s full interview here: https://www.miamiherald.com/news/business/article251596618.html
Interested in learning more about the real estate market in Miami?
AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in South Florida, we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!
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