Lakshmi Shenoy
If it seems like everyone you know is moving to Florida these days, there is evidence to back that up. Recent data from LinkedIn published in Axios put Tampa Bay, Jacksonville and the Miami-Fort Lauderdale metro areas among the top 10 U.S. cities seeing in-migration.
When I relocated from Chicago to Tampa in early 2018, I found myself in a city that countered the stereotypes I’d heard about the state. Since then, I’ve come to appreciate the advantages that came with building my organization in Florida, and I’m often asked how I made the call.
To help you weigh the benefits of relocating your startup to Florida, here are some FAQs I’ve encountered. And if the Sunshine State isn’t on your startup’s shortlist, don’t hesitate to apply these answers to a different destination.
1. What are your company’s needs?
While you may have personal reasons for wanting to relocate to a new state, it’s a good idea to map out your company’s needs as you think through this decision.
Does a move bring you closer to a great pool of talent? Are you looking for a headquarters near a specific material resource or type of infrastructure? Do you need to be local to a target customer base or community?
For example, Florida is a terrific location for companies that stand to benefit from the presence of retired military talent and the prevalence of military bases, which creates a strong market for certain types of tech innovation, including cybersecurity and aviation.
Whatever it is you need to fuel your company’s growth, listing out your company’s requirements will make it easier to compare your needs with what your potential destination has to offer.
2. Which community do you want to be a part of?
If you haven’t found the tech community you’re looking for in your current location, pause to articulate what qualities you’re looking for. With this in mind, you can begin to establish the kinds of local connections you’re hoping to grow before you make any big moves.
I moved to Florida to participate in the diverse tech communities in Tampa and Miami, and I knew I was headed to the right place because I tested the waters before jumping in. As a relative newcomer myself, I’ve found the landscape in Florida to be more open and accessible than in other more established startup hubs, but don’t take my word for it.
If you’re a startup leader who is looking to land in a place with a strong, welcoming network, take the time to reach out to local community leaders and other founders like you. Whether that means sending a tweet to the mayor of Miami or connecting to local startup hubs, these interactions will give you a good sense of the local culture.
Because so many people are migrating down to Florida, we’ve put together a database of recent transplants to make it even easier to connect new residents to the existing tech community.
3. What are the potential benefits of moving your company to Florida?
When I think about what brought me to Florida and why I see other entrepreneurs headed this way, three big things come to mind:
- The economics. Florida has no state income tax, the housing market remains relatively affordable (even with the current influx of new residents), and the cost of living is low compared to major tech hubs.
- The lifestyle. You don’t have to be a snowbird to appreciate Florida’s good weather. For many, this retirement destination is already home to family members, which can be an added incentive for relocation. During the pandemic, the mild climate allowed Floridians more latitude to get outside to socialize and keep business moving forward.
- The business opportunities. There’s no single, dominant industry in the state, which leaves the door open for innovation in many directions. While Miami and Tampa have emerged as tech hubs, the whole state is fertile ground for startups to get a foothold.
4. What are the possible drawbacks of relocating?
No place is perfect, and you should be proactive about discovering the issues you may encounter after relocating. If your first thought after reading the word “Florida” was “flooding,” you’re not alone. Climate change poses a threat to most of Florida’s major metropolitan areas, but the good news is that the government is actively working to mitigate flood risk around the state.
Governor Ron DeSantis on May 12 signed two bills into law that are intended to fund proactive measures to counter rising sea levels and future floods, which is seen as an inevitability rather than a mere possibility in much of southern Florida.
While the climate is changing everywhere, you must be prepared to deal with wetter weather if you decide to relocate your business to Florida and the seasonal logistical challenges that come with the geography.
5. How can you best utilize your team’s time?
If you’re thinking about leaving the Bay Area or New York City because you’re hoping to shorten everyone’s commute, do your due diligence.
Florida is known for its laid-back culture, but it is a huge state that lacks a statewide public transit option, so expect to spend time in your car. The Brookings Institute reports that Florida’s commuters drive over an hour each way to work in the state’s major metropolitan areas.
As more companies reevaluate their in-office policies, consider how you can implement the right balance of in-office and remote work for your company in its new location. The change of scenery may be the right time to make this kind of office culture shift.
6. Do you have a strategy that leverages the advantages of this new location?
Maybe you’ve already sketched out a timeline for relocating your company and your family. Maybe you even have a roadmap for relocation.
Wherever you are in the planning process, your relocation strategy should include steps that leverage the benefits that come with your new location. That might be an updated remote work policy or a change to your office hours, but it might also include touch points to keep you on track to grow the network you’re hoping to gain. Be sure to also reach out to your local economic development council to take advantage of any incentives available to you.
As a startup leader, you know how fast life moves, and as you relocate, your attention is going to be in high demand. A relocation strategy that includes reminders to attend local tech events to engage with a local industry organization in your first few months isn’t overkill — it’s how to ensure you get the experience you’re looking for out of your new home base.
7. Wherever you are, can you make an impact?
Startup leaders are builders and often want to make an impact not only on their company but also on their community. If this mentality applies to you, consider the benefits of operating out of a city or state where there’s less noise and more opportunity to shape the community in which you live.
Chicago is an established tech hub in the Midwest where fintech reigns; Columbus is where you want to be if you’re working on insurtech; Silicon Valley is part of a story the whole world knows. But the narrative hasn’t been written yet in many cities around the country. This was the main reason I moved to Florida: I wanted to be a part of a growth story.
If your legacy and impact on the world is important to you, be intentional about where you build. By leaving the well-beaten path, you may find the opportunity to establish an inclusive, welcoming space for your company and the room to grow you’ve been seeking.
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