Bilzin Sumberg

Florida is experiencing new and unprecedented levels and patterns of migration. Some of this migration is concentrated in the state's primary markets. South Florida, for example, has been witnessing the steadily increasing expansion and relocation of companies from other parts of the country from sectors that have not historically been part of the local economic fabric, such as technology companies and hedge funds that rely on specialized workforce and metropolitan areas with high social capital.

Statewide, absence of state income and capital gains taxes, combined with a surging demand for Florida's quality of life in light of coronavirus-induced lock downs and forced closures in other parts of the country, has led to substantial wealth migration. New transplants are flowing into the metro Miami area, the Tampa Bay area, Palm Beach, and Orlando. Meanwhile major infrastructure investments, such as the Brightline high-speed passenger rail system, are connecting the most economically active parts of the state, accelerating the rapid development pushed by this migration.

Bilzin Sumberg is deeply familiar with the forces behind this new migration pattern, the business trends it is pushing, and what companies, institutions and individuals need to know from a business and legal perspective on how to navigate and thrive in Florida's rapidly changing cauldron of opportunities.

New Miami Blog
September 2021

Moving Your Corporate Headquarters to Florida? Don’t Forget Your Business Incentives

With Florida’s pro-business climate and warm weather, the state has always been a target for corporate headquarter relocation and business expansion. Couple that with the elimination of the SALT deduction and a focus on quality of life issues in the age of COVID, Florida has gone from the shortlist to the default choice for expansion and relocation. Click here to learn more about unlocking economic incentive opportunities related to corporate headquarter relocation or those related to specific target sectors.

Relocation Resources

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Miami-Dade County Relocation Resources

Miami-Dade Beacon Council: Locating & Expanding Companies
Access tools, resources, and helpful information for businesses expanding or relocating in Miami-Dade County

Miami-Dade Beacon Council: Lifestyle
Comprehensive list of information on day-to-day living in Miami-Dade County

Miami-Dade Beacon Council: Cities
Descriptions of the municipalities that make up Miami-Dade County, each with their own unique characteristics

Miami-Dade Beacon Council: Neighborhoods
Brief overview of the neighborhoods that make up the metro Miami area

Miami Downtown Development Authority: Corporate Relocation Resources in Downtown Miami
Expert assistance in advising businesses and organizations on options for opening shop in Miami's Downtown neighborhood, in addition to small business assistance, grants and incentives

Miami-Dade County Public Transportation and Transit Tracker
Listing of public transit services in Miami-Dade County

Greater Miami Chamber of Commerce: Senior Executive Orientation
Education and orientation on the metro Miami area to facilitate the transition for newly arrived senior executives

Miami-Dade Schools Interactive Map
Find nearby county schools using your home address

Broward County Relocation Resources

Greater Fort Lauderdale Alliance: Business Assistance
Financial, informational, and regulatory assistance for business relocation, retention and expansion in Broward County

Palm Beach County Relocation Resources

Palm Beach Relocation Guide
Comprehensive resource on lifestyle, schools, business assistance, and jobs in Palm Beach County

Palm Beach County Education Guide
Ready access to top-line data about Palm Beach County's educational resources along with a portal to the websites of individual schools for more in-depth information

Palm Beach County Business Development Board
Palm Beach County's Business Development Board offering resources for local business expansion and relocations

Additional Resources

Business Florida
Learn about the unique advantages and resources that each region of Florida has to offer businesses

Enterprise Florida
Comprehensive list of resources for businesses looking to expand or relocate to Florida along with information on Florida's financial, regulatory, and workforce advantages for companies

Florida Private Schools Directory
Directory of private schools across the state of Florida offered by the Florida Department of Education

South Florida Business Journal: The List
South Florida economic and business-related rankings offered by the South Florida Business Journal

Podcast
July 2021

Tax Considerations for a Move to the Sunshine State

Timely Perspectives on Business & Wealth Relocation to Florida

In this podcast, Jennifer Wioncek, Partner in Bilzin Sumberg’s Tax & Private Wealth Group, discusses the planning considerations that potential and recent movers to Florida should think about it with a focus on tax and estate planning matters.

“Counseling the companies and investors deploying capital in Florida is at the core of what we do at Bilzin Sumberg,” says Jay Sakalo, Bilzin Sumberg Corporate Practice Group Leader. Bilzin Sumberg is well-positioned to continue servicing its existing clients locally and across the country while capturing the wave of business flowing into Florida."

RENEW305
March 2021

CEO Program Works to Advance Miami-Dade Economic Development

Miami-Dade County is already planning for the post-pandemic world. County Mayor, Daniella Levine Cava, recently launched RENEW305, an ambitious initiative that seeks to attract new businesses, scale existing businesses, boost venture capital investment in local startups, and expand workforce training opportunities for locals to ensure they can qualify for jobs in rapidly growing sectors. The engine of this initiative is the newly formed CEO Ambassador program, which selectively brings together ambassadors from the local business and development communities, such as Bilzin Sumberg’s Managing Partner, Albert E. Dotson, Jr.

Business and jobs growth

Business leaders leading the charge

$1.5 million for skills training

Blog Post
March 2021

Moving to the Sunshine State: Change of Domicile Planning Considerations

Florida has long been known as a hot-spot for retirees and snowbirds to move for its sunny weather and beautiful beaches. In recent years, however, since the "SALT Deduction Cap" established by the 2017 Tax Cuts and Jobs Act ("TCJA"), there has been an influx of individuals and families moving to the Sunshine State for tax purposes. Additionally, as remote work has become the new "norm" since the COVID-19 pandemic, increased flexibility to work remotely has allowed individuals from high-tax states like New York and California the opportunity to seamlessly make their move to Florida. Notwithstanding the significant benefits that Florida offers to individuals and businesses, there are concrete plans and actions that should be undertaken to establish Florida domicile for legal and tax purposes.

Five Tips for Businesses and Individuals Looking to Relocate to Tax-Friendly States

As published in Bloomberg Tax

February 8, 2021

By: Anthony De Yurre

Over the last decade, there has been a gradual increase in the number of residents and businesses emigrating to tax-advantaged states such as Florida, Arizona, Texas, and Nevada, from tax-burdened markets including New York, Connecticut, Illinois, Massachusetts, and California. The Covid-19 health crisis has accelerated the trend, as businesses embrace remote work and individuals opt to live in places with a lower cost of living.

And while the promise of lower taxes and improved quality of life are enticing, there are several variables that individuals and businesses must consider when contemplating a relocation or expansion. For an overview of the factors that should be weighed prior to making a move, click below to learn more.

Blog Post
December 2020

Open for Business: Miami Welcomes Corporate Arrivals

Miami is on the rise- again. A city well-known for its resiliency, Miami has been bouncing back from the economic fallout of the coronavirus pandemic with a vigor that is the envy of other major American metropolitan areas. Anthony De Yurre explores the main factors driving this growth in a New Miami Blog post.

‘The floodgates have opened’: 2020 sees surge of business transplants to South Florida - Miami Herald