Major Companies Moving to Miami

What are some of the major companies moving to Miami? Miami is one of the top tourist destinations in the United States, but now it’s also become a top destination for businesses. Many businesses from different areas are looking for better locations for several factors — lower operating costs, more space, and fewer restrictions. 

This post will tell you about some big players and how they’re making Miami their home base.

3 Major Companies Moving to Miami

Citadel

Citadel Securities, the largest market creator in the world, is moving its headquarters from Chicago to Miami. It’s a big move for the company and another sign that Miami is a hot spot for financial companies.

Chicago’s rising crime rate and taxes are the leading reasons behind this move. Florida does not have a state income tax, so that’s another plus for Citadel’s decision to move here.

Blackstone

One of the largest investment management firms in the US, Blackstone Group, is also moving to Miami! The New York-based company signed a lease for 41,000 square feet in downtown Miami. 

Blackstone is among many companies adding technology-focused jobs in South Florida. The company plans to hire 200 employees for its in-house technology team.

Subway

The famous sandwich chain is also moving to Miami — for several reasons.

Several of Subway’s operations will move from Milford, Connecticut, to Miami. Consumer-facing departments, including culinary and marketing, will make the transition. Connecticut will continue to host finance, legal, development, and human resources.

Miami is home to the purchasing and services cooperative for Subway franchisees. Due to its proximity, the move would facilitate more robust integration with its supply chain.

John Chidsey, the CEO since 2019, is also based in Miami. Their move is much more reasonable since he spends more time in Florida than in Connecticut.

Is Miami the Next Silicon Valley?

Miami is booming. But will it overtake Silicon Valley as the epicenter of technology? Perhaps not, but Miami is an attractive destination for tech companies and their employees.

Silicon Valley has already created the perfect mix of factors necessary to succeed, including government, academia, and real estate. However, some of these factors are why Miami might be the next destination for businesses to achieve their dreams.

Overall, Miami is the destination for all types of diverse, tech-focused, and creative work. 

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