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. Miami acts as one of the most significant hubs for Latin American trade and attracts great Spanish-speaking and Portuguese-speaking talent.
3. Strong Tech Labor Market: According to CompTIA, Florida is the #1 state in new tech business establishments and #2 in new tech employment. This creates a strong labor market for tech businesses and laborers with tech skills.
4. Investment and Funding Opportunities: South Florida’s technology market has attracted increasing attention from venture capital firms seeking high-potential opportunities. With a growing number of successful exits and a supportive banking ecosystem, tech startups in the region have had access to the funding they need to scale and thrive.

Anyone in business and technology who is ambitious and eager for opportunity would be hard-pressed to find a better market to work in than Florida. South Florida’s tech market will only continue to grow, and those who work hard now will find great success.