Broward County’s Business Climate Looks Sunnier Than Ever

Greater Fort Lauderdale emerges as South Florida’s new frontier for business expansion and prime relocation destination for business leaders seeking a life less taxing

FORT LAUDERDALE, Fla., July 03, 2025 (GLOBE NEWSWIRE) -- With its low taxes, business-friendly infrastructure, robust talent pool, and economic growth that is outpacing the nation, more businesses are relocating to Greater Fort Lauderdale than ever before.

The Greater Fort Lauderdale Alliance, Broward County’s official economic development organization, reports that New York, Connecticut, and New Jersey-based companies account for the majority of those the Alliance assists in relocating to Broward.

“Greater Fort Lauderdale is the new frontier for business expansion, with all the right elements to prosper both in business and in life,” said Greater Fort Lauderdale Alliance President and CEO Bob Swindell. “We’ve cultivated one of the most business-friendly climates in the nation, offering public-private partnership opportunities, collaborative support, and an innovative spirit that catapults businesses to the next level. We’ve helped countless business leaders seamlessly relocate and expand in Broward, and the majority have only one regret: that they didn’t do it sooner.”

Recognized as a Top 2 U.S. metropolitan area for economic strength by Area Development, Broward County is home to more than 200 corporate, regional, and international headquarters and several multibillion-dollar sectors, including aviation and aerospace, manufacturing, global logistics, life sciences, and financial services, which have seen tremendous growth in recent years.

A Top 5 U.S. market for tech business growth, per CompTIA, Broward is also home to major companies such as UKG, Chewy, Citrix, Future Tech, and Magic Leap, which are reshaping sectors from aerospace and defense to finance and healthcare using cloud computing, augmented reality (AR), virtual reality (VR), and artificial intelligence (AI), which is poised to be a major growth sector in the region.

Bob Venero, president and CEO of Future Tech Enterprise, Inc.—a global IT solutions provider specializing in implementing emerging AI technologies such as digital twins, AirGap AI, and AI-driven simulation platforms—relocated his business from New York, where it was headquartered for 25 years, to Fort Lauderdale in 2021 for its highly collaborative business community, robust talent pool, and notable tax savings.

“Within the first four years of relocating our business to Broward, we’ve more than doubled our revenue and grown Future Tech into a half billion dollar company with operations in 37 countries around the world,” said Venero. “Beyond the tax savings, which is significant, Broward has a very strong and growing tech talent pool, as well as an unbeatable business-friendly climate, infrastructure, and highly collaborative business community, anchored largely by the Greater Fort Lauderdale Alliance. We found all of the elements necessary to fuel our company’s growth in Broward. Not to mention, the weather is fantastic, and the people are just happier down here, especially our employees.”

Venero credits Future Tech’s highly successful relocation from New York to Fort Lauderdale to assistance provided by the Alliance, which also spearheads South Florida’s TechGateway initiative to foster, develop, and recruit more high-skill talent to “Work in the Cloud, Live in the Sun.”

“The Alliance’s commitment to attracting and supporting leading technology companies continues to play a central role in our success story as we look to further expand,” Venero continued. “The fact that we’ve grown our business more rapidly in our first four years in Greater Fort Lauderdale than in our previous 25 years in New York says it all.”

With an annual GDP of nearly $163 billion, Broward County’s job growth and labor force participation rates have also continued to outpace the nation over the last five years. Fueling this growth is a robust workforce pipeline supplied by Broward’s network of premier educational institutions, including Florida Atlantic University and Nova Southeastern University (NSU)—both recently recognized with the highest R1: Very High Research Spending and Doctorate Production University Carnegie Classification symbolizing the pinnacle of research excellence—and the Alan B. Levan NSU Broward Center of Innovation, a public-private partnership between the university and Broward County that helps area companies find and develop talent.

The county also offers incentives to relocating companies that create high-paying jobs in high-value target industries.

With its endless beaches, thriving business community, and zero state income tax, Greater Fort Lauderdale—ranked as a Top 100 Best Place To Live in the U.S. by Livability.com—has become a prime relocation destination for tech entrepreneurs, finance executives, CEOs, and overtaxed Tri-State residents, alike, spurring a major wave of residential development. In Fort Lauderdale alone, more than $22 billion in major development projects are currently underway, including more than $10 billion in the development pipeline for Downtown Fort Lauderdale - one of Broward County’s top economic engines with an annual economic output of $36 billion.

About the Greater Fort Lauderdale Alliance:
The Greater Fort Lauderdale Alliance is Broward County’s official public-private partnership for economic development. Its mission is to lead Broward County in building a stronger and more diverse economy by stimulating the creation of new jobs and capital investment while facilitating the growth and retention of businesses in Broward County. Services offered by the Alliance include assistance with business relocation or expansion and site selection; incentive programs and information; market research; and serving as a liaison for workforce development between CareerSource Broward, educational institutions, and the business community. To learn more, visit www.gflalliance.org or call (954) 524-3113.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/992e3e1d-56ae-4428-be06-e59ca78fbb8c

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