Why move to Florida? Top leaders reveal the direction of pro-business state

Florida’s rise as a magnet for wealth, business and culture shows no signs of slowing down.

From luxury yachts to fine dining and world-class real estate, the Sunshine State’s combination of open economic policies, no state income tax, and year-round sunshine continues to attract entrepreneurs and investors alike — and top leaders say it’s just the beginning.

“What we’re seeing is that more and more people are looking for that lifestyle, and when you meet the demand, you’re usually very successful,” Mickey Naftali, chairman and CEO of The Naftali Group, told Fox News Digital from the Fort Lauderdale International Boat Show earlier this month.

“They visit, they stay, they see the business is good, and then they can set up their office here,” said Andrew Doll, president of U.S. boat shows for Informa Markets. “And I think we’ve seen a lot of companies in the big three cities — Miami, Fort Lauderdale and West Palm Beach — investing in South Florida.”

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“We are coast to coast, with restaurants all over the United States from Beverly Hills to New York City, but 25% of our business now is in South Florida,” added restaurateur Cameron Mitchell. “We are making a significant investment in South Florida, and we will continue to do so. If you do [had] It’s my way – I’m joking, but I’m kind of serious – if I could build restaurants in Florida, that would be great.

From 2019 to 2024, Florida’s real gross domestic product (GDP) rose more than 21%That’s about double the 11% real GDP growth the country saw during that same time period, according to the governor’s office.

U.S. Bureau of Labor Statistics data also shows that Florida had a net gain of 503 businesses moving to the state in 2023 — the highest of any U.S. state. That same year, the Florida Chamber of Commerce reported that net income migration in Florida was About $36.1 billion annually – Nearly three times higher than the nearest state, Texas.

A positive economic environment combined with sunshine and coastlines continues to draw people and businesses to Fort Lauderdale and greater South Florida — not just to visit, but to build their lives and investments, business leaders say.

“Everyone knows there’s a big push coming from New York, coming here, and who knows what’s going to happen with the election after that,” said Mitchell, who owns upscale local restaurants Ocean Prime and Del Mar. “We’re excited to be here. We think it’s the epicenter… ground zero, and it’s just starting to erupt and will continue to erupt in the future.”

“Clearly there has been a huge shift in wealth to South Florida since COVID-19. In Miami, Fort Lauderdale and West Palm Beach, a lot of companies have moved, a lot of people have moved, and they’re not just moving from the Northeast, they’re moving from California,” Dole said, noting lower taxes, favorable regulations and a year-round boating season.

“We have yachts from all over the world here, and we did that [got] He continued: “Companies that offer their products from all over, visit us here, and they think that maybe they should have an office here. This happens very often.”

“I think the big shift is that it has become the primary residence for many, many people, and again, the whole package is here,” Naftali said. “There are a lot of opportunities to walk here, some people work remotely… a lot of companies [are] Moving to South Florida. The tax structure here is quite favourable, as is the lifestyle. . . . “People can feel very comfortable that they can get everything they want here.”

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As immigration and money flow accelerate, the question is not whether Florida can maintain the momentum, but how the business, cultural and economic landscape is transformed as a result. According to the leaders shaping this development, the forces drawing people to the South are now reshaping the country from the ground up.

“There’s a special energy, there’s a lot of wealth that’s been created in the last few years, and people are just looking for a place to spend money smartly.”

– Mickey Naftali

“It’s a year-round market now. It’s not just six months of the year. You know, you go from zero to 60, which is more widespread,” Mitchell said. “The whole market in general, the density here in Florida, is really strong. And then the job market is really strong here as well, so not only are wealthy people moving here like crazy, people are coming here to make their careers.”

“I think South Florida [will just] “Continuing to grow, with more and more people, with more and more money being invested here,” Naftali added. [home]Buyers and investors, it’s all about where are the opportunities and do I have a lot of inventory to choose from? . . . “The bottom line is the demand is here, the demand is going to continue to grow here, and I think it’s going to be a great story.”

“It’s the excitement of presenting and offering something different, and the economic impact,” Doll said [that] The shows are about communities, what they do and how they impact people’s lives. . . “It’s not just the marine business.”

All the momentum – migration, capital, construction cranes – points to something deeper than just the boom cycle. For many like Doll, Mitchell and Naftali, South Florida represents a future built on freedom, flexibility and an open economic climate where people feel empowered to build the lives and businesses they want.

“Our long-term vision is to continue to build our business here. I think our business will likely double here in the next five years through the Florida platform. There are a lot of opportunities here that we have to find,” Mitchell said.

“We feel strongly about supporting the markets in which we do business, and we want to be good citizens in those markets.”

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“Spending my time in South Florida, it’s unbelievable…you know, it’s almost a point where you feel free here,” Naftali said. “I’m very excited to be a part, even if it’s a small part, of the South Florida and expansion story.”

“There’s a special energy, there’s a lot of wealth that’s been created in the last few years, and people are just looking for a place to spend money smartly. And it’s great to be here as part of the story.”

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