Why South Florida

Emerging Tech Hub for Investment Technological talent and tech business funding sources continued growing in 2023, following a post-pandemic tech boom in South Florida. Starting with Microsoft's relocation of its Latin Headquarters in 2021, the metro market has had an influx of companies, investments, and talent.

South Florida Tech Employment Trend

125.00

122.05

120.00

115.00

110.00

52.4% 10-Year Job Growth

105.00

100.00

Various technology firms such as Wix, Citrix, Blockchain, Tyco, Sykes Enterprises and Greyson Technologies call South Florida home. Major tech giants including Microsoft, Amazon, and Apple continued to invest in the area, increasing their presence over the past 18 months. The latest included Apple occupying almost 45,000 sf in the Coral Gables submarket. Tech employment in the area boomed since 2020, up 22.6%, or 22,500 jobs added. South Florida trailed only the Dallas-Fort Worth metro market in total percent increase in tech employment over the past 3 years. Tech occupations are expected to grow by 13.2% through 2030.

95.00

90.00

85.00

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

80.00

75.00

70.00

2011

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

2022 2023

Tech Worker Migration: 2020-2023

Tech Worker Migration: 2020-2023

26.0%

“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).

22.6%

16.3%

14.4%

13.6%

Percent Change

9.1%

Dallas-Fort Worth

South Florida

Houston

Atlanta

New York

Philadelphia

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

Cushman & Wakefield | Why South Florida

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