{"id":272177,"date":"2026-05-15T12:23:09","date_gmt":"2026-05-15T12:23:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/272177\/"},"modified":"2026-05-15T12:23:09","modified_gmt":"2026-05-15T12:23:09","slug":"the-long-game-behind-miamis-tech-boom","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/272177\/","title":{"rendered":"The long game behind Miami\u2019s tech boom"},"content":{"rendered":"

By Rachel Curry \/ Guest Contributor<\/p>\n

With major players like Palantir, Meta and Citadel shifting operations to Miami in recent years, it can seem like it\u2019s the outsiders transforming South Florida into a tech hub that can compete with the likes of Silicon Valley, but this is a well-orchestrated outcome that\u2019s been decades in the making.<\/p>\n

\u201cWe\u2019ve seen a massive influx of people coming from California, in large part because of the taxing structures,\u201d said Stephanie Toothaker, land use attorney with a focus on government relations and chair of the Fort Lauderdale Downtown Development Authority. \u201cAnd then you add great weather, great innovation and a business-friendly environment, and you\u2019re going to continue to see that shift.\u201d<\/p>\n

Augmented reality company Magic Leap has been in the area since 2010, and Microsoft has held its Latin American and Caribbean operations there since 1994. First founded in California in 2000, Kaseya, a massive IT management and security software company for small and medium businesses, moved to Miami in 2016. It maintains a revenue of $2.5 billion and a workforce in the thousands, and more recently acquired new CEO Rania Succar, who relocated from the Bay Area.<\/p>\n

\u201cWe hire a lot of early career talent,\u201d noted Succar. \u201cThey come to Kaseya to get a growth path to strengthen their skills and employability, and then that becomes a springboard for the ecosystem. It deepens the talent population here.\u201d<\/p>\n

Besides private companies, Miami\u2019s tech hub growth rests on public-private partnerships. Toothaker credits Florida\u2019s generous public-private partnership (P3) statute for at least some of the region\u2019s success. Evidence of this is the Nu Stadium, which David Beckham and Jorge Mas opened for the Inter Miami Football Club in 2026. \u201cWe got that stadium approved and built in 13 months, which is literally unheard of,\u201d said Toothaker, who was involved in the approval process.<\/p>\n

Miami saw record venture capital inflows of $5.3 billion in 2022<\/a>, and while that number has moderately quelled in recent years<\/a> (though statewide VC is on the rise), organizations like the Miami Downtown Development Authority and Miami Dade College are helping bolster private funding.<\/p>\n

Toothaker sees government incentives that go beyond grants and loans, too. \u201cIt can be waiving of impact fees, free or significantly reduced land,\u201d she said. \u201cThat\u2019s where the government has a significant role in working with companies, and that\u2019s what you\u2019re seeing.\u201d<\/p>\n

Babak Ebrahimzadeh, who heads up South Florida real estate firm Gatsby Florida, has been behind major acquisitions like One Town Center, DiVosta Towers and 800 Brickell, the latter of which houses tenants like Kaseya. His latest project, The Modern at Palm Beach Gardens, reflects a broader \u201clive, work, play\u201d model, catering in part to firms leaving places like New York.<\/p>\n

Florida\u2019s 2023 Live Local Act is behind many of the \u201clive, work, play\u201d projects that Miami is seeing. Aimed at increasing the supply of affordable and workforce housing, it provides tax incentives, zoning overrides and funding mechanisms to encourage private developers to build affordable housing. Despite concerns from the public about issues like overdevelopment and loopholes, Toothaker is a fierce supporter of the legislation.<\/p>\n

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\u201cThe cost of housing is just through the roof, and in the tri-county area, Miami in particular, you\u2019re seeing the ripple effects of that,\u201d she said. \u201cIf people can\u2019t afford to live where they work, they\u2019re going to start leaving.\u201d<\/p>\n

And, Succar noted, it\u2019s the people that make Miami as a tech hub possible. \u201cDo the work to find the local teams, as opposed to being spread out where you and co-founders might be here, and then the rest of the team might be in other places,\u201d she said. \u201cIt takes work, but there\u2019s exceptional talent here, and then you get the benefit of a unique talent market.\u201d<\/p>\n

Like anywhere with a booming tech landscape, South Florida must face the challenge of compute power and energy needs, and Florida property is no cheap asset. \u201cYou want to bring the tech and the innovation, but you have to have the infrastructure to support it,\u201d said Toothaker. Florida already has around 120 operational data centers<\/a> and a hyperscale, AI-friendly buildout remains in the works, even at the dismay of many residents. Nonetheless, the state and its neighbors Georgia and Alabama seem determined to move forth on infrastructure projects.<\/p>\n

Beyond the companies and talent who have relocated, of which Succar is admittedly part of, she credits homegrown startups and enterprises for getting Miami to where it is now. Clean energy startup Spearmint Energy, fintech platform Flex and even the long-standing AutoNation, America\u2019s largest automotive retailer, all play a role.<\/p>\n

\u201cWhat I find so energizing is the determination and passion of the leaders here to invest in their community and to see it become a leader on the global stage,\u201d she said. \u201cThere\u2019s something about the city that attracts a population like that.\u201d<\/p>\n

Maybe that\u2019s what really sets Miami apart from places like Mountain View, Austin and Seattle. It\u2019s the ability to come in and be a part of shaping something bigger than yourself. Whereas Silicon Valley has long been molded, Miami is actively sculpting its fate.<\/p>\n

\u201cTech leaders tend to play a bigger, more active role in shaping the identity of the city,\u201d said Succar. \u201cIt\u2019s an attractive component of the value proposition.\u201d<\/p>\n

Rachel Curry is a freelance journalist with a focus on tech, business and innovation. She frequently contributes to CNBC and Observer.<\/p>\n

Refresh Miami welcomes locally relevant guest posts. Send your post idea to Nancy Dahlberg at [email\u00a0protected]<\/a>.<\/p>\n

READ MORE IN REFRESH MIAMI:<\/p>\n

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