TALLAHASSEE, FLORIDA — Corporate America is warming up to The Sunshine State. Florida scored the highest percentage of net gains in corporation migration among all 50 states, a new report shows.
Hire A Helper’s analysis of new Securities and Exchange Commission (SEC) filings revealed which states and cities are the most popular destinations for companies looking to relocate, as well as the places they are fleeing.
Florida had the highest net gain of any state nationwide with 86 percent more corporations moving their headquarters there, compared to the number of companies that chose to move their head office out. Texas finished with the second highest rate at 71 percent net migration.
Washington finished dead last with negative 83 percent, followed by New York at negative 51 percent and California at 46 percent.
Additionally, three Florida cities ranked in the top 10 cities nationwide for new business – Jacksonville scored 66.7 percent, Tampa scored 42.9 percent and Miami scored 43.3 percent.
“People are making money in Florida hand over fist because we have a great business climate,” Governor Ron DeSantis told Elon Musk when announcing his intention to run for President in 2024.
Last year, Florida surpassed New York for the highest number of jobs among all 50 states. In August, a Rasmussen poll indicated that Americans consider Florida to be the most desirable state to live in nationwide.
THE GREAT AMERICAN EXODUS
The DeSantis administration’s decision to reopen businesses ahead of most other states in 2020 saved many small businesses and mitigated economic fallout suffered as a result of shutdowns across the country. The governor also prohibited vaccine mandates and vocally opposed anti-police rioting stemming from the death of George Floyd.
While legacy media outlets, Democrat politicians and high-profile celebrities have attacked DeSantis’ conservative stands, Americans in other states have voted with their feet by relocating to the Sunshine State. Florida saw the sharpest rise of all 50 states in net migration for the past two years, adding over 600,000 residents.
Conversely, prominent Democrat-run states like California, New York and Illinois experienced a massive exodus as a result of highly restrictive policies. California and New York finished No. 1 and 2 respectively for the highest number of outbound residents in 2020 and 2021 – losing $92 billion in tax dollars as a result.
“You’ve really seen a Great American Exodus. These people are coming to kind of a political Promised Land, where they’re fleeing these blue jurisdictions,” Florida Governor Ron DeSantis told The Florida Standard in August. “We’re offering something for people that I think they viewed instinctively as more consistent with what America is supposed to be.”
