Scientists have long warned that parts of Miami Beach can be overwhelmed by high sea levels by the middle of this century, threatening thousands of property.
However, on difficulties, Florida has a boom. Companies, businessmen and billionaires flow to Sunshine, which is drawn by their spirit -supporting spirit, minimum taxes, and institution support.
I played the mild Miami climate and excessive restrictions for the epidemic, but many say that the true attractiveness of Florida lies in the environment of her generous business. It does not have a state income tax, and imposes a relatively 5.5 percent modest tax, and leaders such as ruler Ron Desantis and mayor of Miami Francis Suarez have been continuing their wounding approach to the state. In a country led by President Trump, Miami's friendly position of business is often described as a continuation of his low growth philosophy.
It seems that the strategy of encouraging internal investment is great. Florida's economy expanded by approximately 22 percent between 2019 and early 2024 – the national average – with the flow of the new population, which enhances its population growth. High -end homes increased more than one million dollars, reflecting the arrival of wealthy buyers. Ken Griffin, the founder of the billionaire in Citadel, transferred the hedge fund from Chicago to Miami, where he spent a record of $ 107 million in a four -acre property. Ells also expands the Elliot coach for management and financial giant Blackston quickly in the city.
Mayor Suarez went further by flirting with Saudi investors, and they were keen to open a new office in the city. Florida's readiness is evident in the conclusion of deals specifically designed by Disney's private tax area-of great importance even after prominent quarrels on social policies. Sam Bidwail of the Adam Smith Institute says the tax approach of Florida, which focuses on sales more than income, has less negative effects on economic behavior.
However, Miami has its defects: its population is only 456,000, which makes employment a challenge, and the unemployment rate of 2.4 percent – is affected by the national number – in the narrow labor market. Some commercial projects collide with politicians, and Disney discovered when she canceled a billion dollar university campus in class with Desantis on education policies.
However, for Britain, which is currently wrestling with slow growth, the economic rise in Miami raises questions about how to attract – and keep it. Increasing numbers of highly observers leave the United Kingdom, and take their capital elsewhere. Eddie Trump, the real estate developer who is shared by the title but has no family connection to President Trump, believes that the Florida tax system and the inhabitant culture supporting basic work: “I think most people come because it is a largely welcoming society for business.”
Since British policy makers are weighing the pros and cons of various financial strategies, the example of Florida provides a convincing situation about the extent of low taxes, meager organization and a comfortable position towards the institution can stimulate an economic boom – even in areas facing major environmental challenges.