The migration movement from large corporations to Florida has never been stronger. Companies in the Northeast of the USA (New York) and also on the West Coast (California) are looking for more tax-friendly environments and, at the same time, a better quality of life for their partners, employees and collaborators. The state of Florida, in this context, brings together all the qualities that large corporations and startups need. Miami, for the time being, has been the main city chosen by the big names, attracting giants like Goldman Sachs. The Orlando region is also receiving companies from other states, mainly in suburban regions of the so-called Greater Orlando. The city now wants to play a more aggressive role in this new context and also attract companies to the central region (Downtown) where there is already space for the construction of new offices and commercial buildings.

Orlando and Miami compete for new companies arriving in Florida
Photo: Pixabay

The city of Orlando has always been highly sought after by companies, mainly for the creation of training camps. However, suburban regions like Lake Nona , for example, end up winning the preference. Lake Nona is a planned community, with complete infrastructure, bucolic and residential environment, ideal for training and with the advantage of being close to the airport. Other suburban areas of Miami like Windermere and Winter Garden are also in the running. With that, the center of Orlando ends up not receiving these companies.

Especially at this time of the pandemic, large urban centers, with high demographic density, are no longer attractive. Suburban cities end up attracting both residents and businesses, as they offer a better quality of life, cheaper spaces and less risk of contagion. In Miami the movement is similar. Even with the prices of condominiums cheap office spaces in the big centers, cities like Weston and Boca Raton have won the preference.

An example is the audit giant KPMG, based in New York. The company already has a training center in Lake Nona, the KPMG Lakehouse, and it is rumored that it plans to occupy a newly built office building, also in Lake Nona. KPMG would still be looking for another space in Orlando to create a call center.

The Walt Disney Company is also considering moving part of its divisions to Lake Nona. The decision to move to Florida was already on the radar, since California is considered an expensive state, in terms of taxes, for its entrepreneurs. In addition, there is also great bureaucracy that inhibits the operations of companies and startups.

Commercial buildings in suburban areas are perceived as safer in Covid times, as they are characterized by having fewer floors and fewer elevators, with a consequent reduction in agglomeration and interaction of people. With idle office spaces in downtown Orlando and Miami, rental prices drop, making them increasingly attractive.