Miami has positioned itself as the new tech hub, and the hype focuses on big names, a business-friendly environment, and responsiveness to incoming tech companies. Interestingly, it has taken ownership for success stories not only in the city of Miami and Miami-Dade County, but for companies also located in the greater Fort Lauderdale and Palm Beach areas. The U.S. Office of Management and Budget (OMB) defines the metropolitan statistical area (MSA) for South Florida as Miami, Fort Lauderdale, and Palm Beach, and, ultimately, all three will come together as one entity — the South Florida Tech Hub.
One of the biggest stories currently spotlighted in the national media is the growth of South Florida as an emerging tech hub, as the region aggressively promotes a business-friendly environment seeking to recruit tech companies and entrepreneurs. South Florida seeks to compete with San Francisco, Boston, Denver, Austin, and New York. The increase in remote working during the COVID-19 pandemic has put South Florida on the map for attracting the tech industry, entrepreneurs, and investors from large urban centers. “Work in the cloud, live in the sun,” is becoming a popular phrase, and data shows an increase in people flocking to Florida, the third most populous state, with one of the highest growth rates averaging more than 300,000 per year.