Billionaire entrepreneurs Steve Ross and Ken Griffin are ramping up efforts to transform South Florida into a premier business destination. Backed by a new $10 million marketing initiative, they aim to entice high-profile business leaders from across the country to relocate to Florida’s Gold Coast, positioning the region as a rival to longstanding business centers in the Northeast and West.
Key Takeaways
- Steve Ross and Ken Griffin are investing $10 million in a campaign targeting out-of-state CEOs and business leaders.
- The initiative, called “Ambition Accelerated,” will promote South Florida’s tax benefits, regulatory environment, and lifestyle advantages.
- The campaign launched at the Wall Street Journal Invest Live conference in West Palm Beach.
- Both Ross and Griffin have made significant personal and business investments in South Florida over recent years.
The Campaign’s Strategy and Goals
Ross and Griffin have linked arms with the Florida Council of 100 to fund a robust advertising and marketing push that highlights South Florida’s economic advantages. The campaign—launched at a prominent West Palm Beach investment conference—is designed to shift perceptions of the area from a sunny getaway to a world-class business hub.
The heart of their pitch focuses on:
- Florida’s lack of state income tax for individuals
- Favorable business regulation compared to states like New York and California
- Access to a deep pool of professional talent
- Enhanced quality of life, including luxury amenities and waterfront living
High-Stakes Investments Fueling Ambitions
This push is backed by more than just ad dollars. Ken Griffin, founder of Citadel, relocated his headquarters from Chicago, investing over $1 billion into a new bayfront office tower in Miami’s Brickell district. Griffin has also funneled hundreds of millions into luxury real estate in Palm Beach, Star Island, and Coconut Grove, alongside infrastructure ventures like a private marina on Miami Beach.
Steve Ross, owner of the Related Companies and the Miami Dolphins, has shifted his focus from New York City to West Palm Beach, purchasing and developing multiple office properties. Ross’s vision includes making West Palm Beach a leading tech and finance enclave, with plans for a new convention center hotel and a $50 million commitment to a Vanderbilt University campus in the region.
Changing the Business Migration Narrative
Ross and Griffin’s campaign acknowledges a shift in national economics and demographics that accelerated during the pandemic. Executives and companies who fled high-tax, high-density cities sought more predictable regulations, lower operating costs, and better lifestyles—all boxes that South Florida aims to check.
By leveraging their business acumen and personal stakes, the billionaires hope to spur a corporate migration tide, further propelling South Florida’s rise as an American economic powerhouse while redefining it well beyond tourism and hospitality.
Sources
- Steve Ross, Ken Griffin Sell South Florida to Corporate Heads, The Real Deal.