Why South Florida Research Report

SOUTH FLORIDA - EMERGING TECH HUB FOR INVESTMENT

South Florida Tech Employment Trend

86,295

Technological talent and tech‑business fundingsourcesaregrowing 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. 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 friendly taxes make South Florida an ideal location for technology and start up firms. Tech occupations in South Florida were expected to grow by 13.9% through 2028. Specifically, software developers were expected to see the highest growth at 18.3%. “To give you an idea of what’s

86,000

84,000

82,000

80,000

35% 10-Year Jog Growth

78,000

76,000

74,000

72,000

70,000

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

68,000

66,000

64,000

2011

2012

2013

2014

2015

201

2017

2018

2019

2020 2021

Software/IT Workers Migration

15.40%

going on in the Miami tech scene: every day, sometimes multiple times a day, a big, massive deal is announced,”

10.40%

8.60%

8.10%

6.50%

2.90%

Shapiro - The Tag Experience (Owner. Represents several tech companies and venture capitalists).

YEAR-OVER-YEAR % CHANGE

Miami / Fort Lauderdale

Houston

Dallas / Forth Worth

Philadelphia

Los Angeles

Atlanta

Metros with largest migration changes for Software/IT Workers: March 2020-February 2021

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