The idea of moving a business from one state or city to another isn’t an innovative idea; however, it is one that has become more popular during the past decade. This has been fueled, in large part, by the recently ended recession.
Miami is a popular destination for businesses with headquarters in large northeast or west coast cities like New York City and San Francisco. The cost of living is also much cheaper.
1. Lower taxes: The primary culprit is almost always taxes. Even something as small as a single percentage point can make a difference for a billion dollar corporation.
2. Lower cost of real estate: The second reason to consider a move is the lower cost of real estate. As mentioned, a move from New York City to Miami could save the average company somewhere around $17 per square foot.
3. Better talent pool: A move may also be beneficial, in part, due to better access to human capital and talent. Many businesses find that local talent is diminishing and want to align themselves with better people.
4. Access to better amenities: The fourth major reason for moving a business across state lines is access to better amenities. For a business currently located in the Midwest, this may look like moving to the East Coast to reduce the overall cost of exporting goods to international markets.
Here´s a New York Time´s Article about how Miami is becoming a great place to live and a better one to relocate your business to.
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