May 7, 2021

Corporate Influx

COVID speeds up financial and tech company relocations to Florida

Amy Martinez | 4/28/2021

Last spring, Ian Campbell, CEO of technology consulting firm Nucleus Research, called a staff Zoom meeting to announce that he would be leaving Boston and moving to Miami. Campbell, who founded the firm in Boston in 2000, felt it made sense to open an office in Miami.

Boston’s high cost of living and traffic were making it increasingly difficult to attract and retain young, talented workers, he says. Meanwhile, he and his staff had proven during the coronavirus shutdown that they could make telecommuting work. He gave his 15 employees the choice of staying in Boston or moving to Miami. All but two chose the latter.

“Most of them are under the age of 30, and they skew male. One of my employees told me that within 30 seconds of my leaving that meeting, they’d all changed their Tinder profiles to Miami,” Campbell says, referring to the dating app. “They could work anywhere, and they choose to work here.”

This story also features expert opinions, business briefs and people in the news: Carl Icahn; Barry Sternlicht; Paul Singer; Peter Thiel; Keith Rabois; Elliott Management; Nitin Motwani; Anthony De Yurre; Ugo Colombo; Danet Linares; Blanca Commercial Real Estate; Kelly Smallridge; NewDay USA; Windstar Cruises; Dark Storm Industries; OPSWAT; JetBlue; Jon Paul Perez; Scott Shleifer; Jay Phillip Parker; David Blumberg; Blumberg Capital; John Stecher; Blackstone Group; Francis Suarez

 

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