From Swampland to Tech Hub: How Florida Became Great

Photo by Brian Lundquist on Unsplash

South Florida is quickly becoming one of the world’s leading technology hubs.

As a technology reseller living in Fort Lauderdale, I’ve seen the growth of the tech industry firsthand. The streets I grew up on have given way to high-rises. Of course, the influx of affluent people from New York, California, and other parts of the country is unmistakable. Along with them have come flagship offices from Wall Street banks, multinational tech companies, and unicorn startups.

An outside onlooker might wonder why swampland attracts such high-tech businesses.

The fact is South Florida has a few unique advantages that make it especially attractive for business.

1. Avoiding Taxes is a Matter of Life or Death: For a business, 10% can be the difference between scalability and bankruptcy. In New York, businesses lost 6.5% to corporate tax. In California, it’s 8.84%. Florida’s 0% corporate tax gives tech businesses the wiggle room in the bottom line needed to grow.
2. The Gateway to Latin America: Collectively, Latin America represents one of the world’s largest economies — yet the market is still significantly underdeveloped compared to the US, Europe, and Asia. Latin America represents an opportunity to get in on the ground floor of a vibrant and rapidly growing economy…