We all know the Covid-19 pandemic created many challenges for conducting business over the past two years.
But as employees discovered the benefits of remote work, more companies and affluent newcomers migrated to South Florida due to the state’s tax-friendly status, warm weather and quality of life.
Our cover story by emerging markets reporter Erik Bojnansky highlights how the finance industry posted explosive growth during this period, with prominent companies such as Goldman Sachs, Blackstone and Thoma Bravo flocking here.
Various cities in South Florida have recorded relocations from private equity, investment and finance companies. But one municipality in particular, West Palm Beach, has garnered national attention as the “Wall Street of the South” (or “Wall Street South” for short).
This isn’t surprising, when you consider nearly 100 finance-related companies have migrated or expanded there over the past two years alone, and more than 1.6 million square feet of high-end office projects are on tap for the city’s downtown area.
Still, it would be inaccurate to attribute that surge solely to Covid-19, since Palm Beach County had been attracting finance companies prior to the pandemic.
Our story also illustrates how developers, including the Related Cos., that had faith in the city’s growth potential early on are now reaping the rewards.
Here’s to the continued expansion of our Wall Street of the South.
Click here to read the full story.
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