JPMorgan Chase CEO Jamie Dimon has joined the growing list of corporate executives who are touting the advantages of expanding their business footprints in Sun Belt states like Texas and Florida which, in his words, are “pro-America, optimistic, pro-business.”
Dimon praised these states as welcoming to business and wanting companies to come, singling out Florida and Texas as states that “like business.”
JPMorgan Chase, the largest bank in the US, has expanded its presence in Florida, which has seen a large influx of migrants who have flocked from high-tax states such as New York, Illinois, and California. The bank has recently opened more offices in burgeoning areas such as Miami and Jacksonville.
Dimon, whose net worth is estimated by Forbes to be around $1.7 billion, praised Florida’s political leadership and stated that they have been great. He added that if he were running the state, he would be thinking about how to make the state well-off for his people.
JPMorgan Chase also recently unveiled a state-of-the-art campus in Plano, Texas, just outside of Dallas. The bank says it currently employs more than 6,500 employees in and around “Big D.” Other finance titans have also bolstered their presence down South in response to migration patterns.
Ken Griffin, the hedge fund billionaire, announced he was relocating the headquarters of his market-making firm, Citadel, from crime-ridden Chicago to sunny Miami. Goldman Sachs, the investment banking giant, also moved some of its traders to West Palm Beach, cementing South Florida’s reputation as “Wall Street South.”
Stephen Ross, the billionaire owner of the Miami Dolphins and Equinox gyms, told Bloomberg News recently that Florida’s “ease of living” makes it more attractive to career-oriented people from the Northeast. Last year alone, more than 64,500 former residents of New York state moved to Florida, more than any year in history, according to the Florida Department of Highway Safety and Motor Vehicles, which tracks driver’s license statistics.
»JPMorgan CEO praises Sun Belt«
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