Full Breakdown
Billionaires Launch Campaign to Promote Florida as Business Hub
2/2/2026, 8:07:48 PM
Overview of the Campaign
Billionaires Stephen M. Ross and Ken Griffin have initiated a campaign named “Ambition Accelerated” to promote South Florida as a premier destination for businesses. The campaign, backed by a $10 million investment from both Ross and Griffin, aims to attract CEOs and entrepreneurs to the Gold Coast region, which includes Miami, Fort Lauderdale, and West Palm Beach. This initiative is organized through the Florida Council of 100, a pro-business lobbying group.
Key Figures Behind the Initiative
Stephen M. Ross, founder of Related Companies, and Ken Griffin, founder of Citadel, both relocated to Florida from New York and Chicago, respectively. Ross has invested significantly in real estate in the region, while Griffin has expanded Citadel's presence in Miami. Both billionaires assert that Florida offers a more conducive environment for business growth compared to other states, particularly criticizing regulatory environments in places like New York and California.
Campaign Objectives and Strategies
The “Ambition Accelerated” campaign seeks to position Florida as the “new Silicon Valley,” emphasizing its potential for business scalability. The campaign includes national advertising and direct outreach to potential business leaders, highlighting Florida's advantages such as lower taxes and a favorable regulatory climate. Additionally, a concierge service is being offered to assist businesses in relocating, navigating regulations, and establishing operations in Florida.
Economic Context and Implications
Ross and Griffin's campaign comes at a time when many businesses are leaving high-tax states like New York and California, a trend that has been exacerbated by the COVID-19 pandemic. Reports indicate that New York City has lost approximately $14 billion in tax revenue to Florida since 2020. The campaign aims to capitalize on this trend by presenting Florida as a viable alternative for business leaders seeking to expand.
Criticism and Opposition
While the campaign has garnered support, there are concerns regarding the motivations behind it. Critics argue that Ross and Griffin stand to benefit financially from the influx of businesses to Florida, raising questions about the altruism of their initiative. Additionally, some local voices express skepticism about whether Florida can truly become a business hub on par with established centers like Silicon Valley.
Official Statements
In a statement, Ross emphasized, “Florida is one of the best business states, if not the best business state, in the country.” Griffin echoed this sentiment, asserting that “the only place a CEO or founder can scale from 10 employees to 10,000 will be in South Florida.” Their comments reflect a strong belief in Florida's potential to foster entrepreneurial growth.
Conflicting Reports & Gaps
While both Ross and Griffin project a positive outlook for Florida's business environment, there is a lack of comprehensive data on the actual impact of their campaign. Additionally, the extent to which businesses are relocating to Florida as a direct result of this initiative remains unclear.
What's Next
The campaign was officially announced at the Wall Street Journal’s Invest Live conference in West Palm Beach, signaling the start of a broader effort to reshape perceptions of Florida as a business-friendly state. Future developments will likely include updates on the campaign's effectiveness and any shifts in business relocations to Florida.
