As Wall Street Heads South, Florida Braces for a Gold-Plated Makeover
Construction cranes pirouette above the skyline in Miami. Porsches are selling briskly in Coral Gables. Over in Palm Beach, along Worth and Hibiscus avenues, the Gucci set is counting new neighbors. The scent of fresh money hangs over Florida these days like the sweet smell of orange blossoms. In the midst of a deadly pandemic—and in truth, largely because of it—an optimism has taken hold among the state’s boosters.
Locals are buzzing again that the Miami area might finally realize a long elusive dream of becoming Wall Street South. Several prominent financial companies, including the mighty Goldman Sachs Group Inc., are considering moving some business there, or are relocating outright. And in these days of working from home, Florida’s low taxes, year-round warm weather, and emerald golf links are already luring some Wall Street people down from New York.