Corporate Operations

Florida, Jacksonville See Most Corporate Relocation Growth of States, Large U.S. Cities Respectively

Nearly one in 12 corporations made major moves over the last year, according to the U.S. Securities and Exchange Commission (SEC) – relocating to new markets at the highest rate since 2017. Reasons for a headquarters relocation ranged from more favorable business and tax environment to being closer to necessary logistical infrastructure.

Florida saw 86 percent gains in corporate headquarters relocating to the state in 2022-2023, the most of any state in the country and 15 percent higher than the second ranked state. Florida’s #1 spot is no surprise as it is consistently ranked the second-best state for business by Chief Executive based on its low taxes, key business incentives, population growth, available talent and much more.

Jacksonville saw a net growth of 67 percent of corporate relocations, the highest of any major U.S. city from 2022-2023. The region’s competitive business climate, entrepreneurial spirit and highly skilled talent base are just a few of the reasons why so many of these companies chose to relocate to Northeast Florida.

More than 150 corporate, regional and divisional headquarters currently operate in the Jacksonville region, showing there is no slowing down of corporate operations demand. Over the last three years, recent corporate relocations included:

  • Made in Space/Redwire Space, a cutting-edge space technology and infrastructure company, chose Jacksonville to be the center of its innovation ecosystem by relocating its corporate headquarters from California in February 2020;
  • Dun & Bradstreet, leading global provider of business decisioning data and analytics, relocated its corporate headquarters from New Jersey in May 2021;
  • American Roll-On Roll-off Carrier (ARC), a global logistics and shipping services company, and Shore Manufacturing, a cleaning supplies manufacturer, both relocated their headquarters in June 2021;
  • Revalize, a supply chain technology company spawned out of the acquisition of five companies, decided to relocate its corporate headquarters to Jacksonville in June 2021;
  • Olympus Insurance Company, specializing in homeowner insurance, relocated their headquarters to Jacksonville in January 2022; and
  • Paysafe, London-based fintech company, expanded its presence in the United States by establishing a Jacksonville office to serve as its North American headquarters in November 2022.

In addition to relocations, existing companies have expanded taking advantage of Jacksonville’s thriving business climate, infrastructure and assets, including recent expansions from Jacksonville-based Johnson & Johnson Vision, FIS and BAE Systems and Ponte Vedra-based PGA TOUR.

Jacksonville’s business friendly policies, desirable tax environment, dedication to innovation, access to vital resources and transportation infrastructure are just a few of the reasons why the region’s businesses are seeing great success. With a high quality of life and affordable cost of living, these businesses also have access to a wide array of talent to meet their needs. As Northeast Florida continues to grow as a hub of opportunity, the corporate landscape will continue to thrive and attract new businesses.

For more information, read the article from Hire A Helper.