The migration of investors to Miami continues and this time the news is that Antonio Gracias, the founder of “Valor Equity Partners” and member of the board of directors of Space X and Tesla has just moved to Miami.
Valor Equity Partners is an investment firm in charge of adapting technology to its clients’ production processes and investments to make value chains more efficient, faster and more productive.
Valor Equity’s portfolio includes companies such as the investment fund Addepar, the recycling and robotics company AMP Robotics, or Misfits Market, a company that rescues food (such as vegetables and fruits) that do not meet the aesthetic criteria of retailers and sells them directly to consumers for up to 40% less than in stores.
This news raises expectations about the future of the city of Miami and the state of Florida, which seem to be attracting more and more people from the former meccas of entrepreneurship: California and New York.
Both Miami Mayor Francis Suarez and Florida Governor Ron DeSantis are in a constant effort to attract new technology, finance, and other companies to bring jobs, innovation, and new opportunities to the region.
The migration of investors to Miami has also been driven by its tax structure. A structure that stands out for its low taxation of both individuals and corporations. In fact, the corporate tax rate in Florida is one of the lowest in the United States, only 5% on profits.
The migration of investors to Miami also attracts the migration of companies
More and more firms have decided to move their headquarters or establish a new base in the city of Miami and its surroundings, among these are Candex, the Israeli financial technology company that decided to expand from its headquarters in Tel Aviv and set up a new headquarters in Miami, moving its Headquarters that were originally located in San Francisco.
Also coming to sunny Miami are some gig economy companies like ShiftPixy. Originally located in Irvine California, ShiftPixy is a technology company that matches contractors and temporary employees with employers, its services range from fast food delivery to hospitality services and industrial workers.
From the world of finance have arrived companies such as the investment fund, Elliott Management Corp. which invests money in portfolios such as mortgages, stock market, debt bonds and loans to financially stressed companies (i.e. when a company does not have enough cash flow to sustain itself over the long term).
Miami has been thrust into the cryptocurrency spotlight thanks to Suarez’s repeated efforts to use cryptos as a means of payment to public officials and to eventually adopt them as an investment asset.
The largest cryptocurrency conference Bitcoin 2021 was recently held in Miami. This was one more reason for many people to be attracted to the possibility of establishing their new crypto companies in the county due to the benefit of having the direct support of an administration that views innovation in blockchain and other technologies with friendly eyes.