Why Businesses Are Moving To Miami?

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If you don’t presently operate a business in Miami, you might not be aware of just how thriving Florida city is right now. Miami is booming with big business, which prompted us to discover why businesses are moving to Miami in record numbers.

A Shifting Market

Over the past couple of years, luxury real estate has seen a major uptick in interest, something Miami is known for. What’s more, interest in high-end single-family condos and homes is soaring right now, leaving many to set course for greener pastures.

With so much appeal nestled in Miami, it’s no wonder that businesses have taken notice and adjusted their strategies accordingly. And it’s not just the big corporate giants that have done so. Even smaller businesses are getting on the Miami bandwagon in the hopes of maximizing profits.

One need only to look at the many Miami billboards to see how diverse the city is with businesses. Interestingly, businesses that were once stationed in New York are leading the charge to make a move to Miami.

Even more interesting is the fact that Miami saw more business transplants than New York and mighty California. There was a time when those two states were the final destination for any entrepreneur or business.

Now, it’s Miami that’s taken the crown. Everything from the real estate industry to Silicon Valley is shifting its focus to Miami.

Hitting Up Mainline Florida

With their sights set on Golden Beach, businesses far and wide are looking to sing their own 305 Anthem. But it’s not just because of the cultural interest from outsiders that businesses are attracted to Miami.

The Magic City has a lot going for it that should garner the attention of any eager business owner. For starters, corporate taxes are pretty appealing to businesses. They’re low, for one. And there’s also no personal income tax.

For a business born in New York, a state known for its sky-high tax rates, Miami is a welcome breath of fresh air. Not only that, but the office space is much more affordable in Miami. When compared to places like San Francisco and New York City, the city of Miami is but a fraction of the cost.

Any company looking to expand its clientele will find Miami to offer exceptional diversity, especially from the Latin American community. The international opportunities are ripe in Miami, and the culture there is equally diverse.

The quality of life in Miami is stellar, offering lots to see and do, with opportunities abound. There is something for everyone, which plays a big role in attracting outsiders to the city. This bodes well for businesses, as it ensures continual attraction and opportunity for expansion.

And finally, Miami’s weather is pure excellence to most businesses. There’s no need to worry about snow keeping people from shopping and doing business, which ensures that commerce will continue to thrive year-round.

The comforts of Florida are perfectly reflected in Miami. If you want to see just how welcoming and inviting Florida truly is, one needs to look no further than Miami and all that it has to offer.

Accelerated Growth

In the past decade alone, the state of Florida has seen a growth of nearly 15%. What’s most impressive about this is that the pandemic didn’t make a dent in Miami’s attractiveness. It only served to increase it.

Given that Florida didn’t mandate a lockdown, it’s no wonder that companies took advantage of the freedom of commerce and took their business where it was welcomed with open arms. With so many states making it impossible for businesses to thrive, Florida offers respite from the lockdowns and mandates.

Attractive Housing

Another edge that Miami has over other big cities is its attractive housing prices. Compared to New York, for example, Florida’s housing market is significantly more affordable. Whereas you might pay upwards of $325k for a home in New York, the same can be had in Florida for about $277k.

And it’s not just in select parts of Florida that housing is affordable. Virtually every city, Miami included, offers lower-priced housing opportunities. This makes the decision to relocate a whole lot easier.

In Closing

Miami is a business owner’s dream come true. With so many ways to grow and expand, it’s no wonder that businesses across the nation have their sights set on the Magic City. Expect this trend to continue, so take advantage of the movement and enjoy the opportunities that Miami provides.

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Preeti Shah is a person who loves checking out different styles and designs of houses. She took interior designing in college and is practicing in the field of home improvement for five years now. In her spare time, she is usually searching the web for interesting and fascinating home designs.

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