Why South Florida - 2Q 2023_Final

Emerging Tech Hub For Investment Technological talent and tech‑business funding sources are growing in South Florida, as it quickly expanded its technology presence hosting the most startup activity in the U.S. according to the Kauffman Index in 2021.

117,452

South Florida Tech Employment Trend

117,452

107,886

99,521

99,636

35% 10-Year Jog Growth

Major tech giants are opening local offices, including Microsoft and Spotify and various technology firms such as Wix, Citrix, Blockchain, Tyco, Sykes Enterprises and Greyson Technologies are based in South Florida. Francis Suarez, the Mayor of Miami, has been very active in recruiting tech firms to the area beginning with his “How can I help?,” in response to a venture capitalist mentioning moving Silicon Valley to Miami. The area’s international access to Central and South America, young population, and business-friendly taxes make South Florida an ideal location for technology and start up firms.

94,767

91,649

88,235

85,019

82,457

2.0x More Diverse than U.S. Tech Industry Overall

80,117

77,745

77,758

2011

2012

2013

2014 2015 2016 2017

2018 2019 2020 2021

2022

Tech occupations in South Florida is expected to grow by 13.9% through 2028. Specifically, software developers are projected to see the highest growth at 18.3%.

Software/IT Workers Migration

Metros with Largest Migration Changes for Software/IT Workers: March 2020-February 2021

15.40%

“To give you an idea of what’s going on in the Miami tech scene: every day, sometimes multiple times a day, a big, massive deal is announced,” Shapiro - The Tag Experience (Owner. Represents several tech companies and venture capitalists).

10.40%

8.60%

8.10%

6.50%

Year-Over-Year % Change

2.90%

Miami-Fort Lauderdale

Houston

Dallas-Fort Worth

Philadelphia

Los Angeles

Atlanta

https://aventuramagazine.com/inside-miamis-trillion-dollar-tech-industry/

Cushman & Wakefield | Why South Florida