Big tech companies are looking for cities where rents are lower and a culture more supportive of business.
The southern states of the US are experiencing business and investment migration from the north which is much higher than usual. This event could have dire consequences for public sector employment and budgets.
Trends, which have already been developing, are fueled by the pandemic and concerns about tax increases, regulation and left-wing politics in places like New York and California.
The big tech companies in Silicon Valley are moving to cities like Miami, explaining that they do so to save costs in cheaper cities. But many analysts interpret immigration as a way to pay lower taxes.
Miami is one of the cities most picked as a destination for what some call “technological migration”, as it sees the potential for further job creation. But this city-to-city process has its other side. There are cities that are willing to compromise in order to attract business and in order to attract a company that ends up being more stressful than the proven business benefits.