Ken Griffin’s Citadel company, which was recently based in Chicago, decided to move its facilities to the city of Miami. In this way, seeking to protect against the high rates of insecurity that affected the previous headquarters.
After more than 3 decades of operations in the north of the country, Citadel, ranked among the top U.S. investment funds, announced that they will move their headquarters and facilities to the city of Miami.
The primary reason for this change is explained first by a deterioration in the relationships between the business owner and Illinois Governor, Democrat J.B. Pritzker. Who Ken Griffin had openly criticized for the rise in safety indices in recent times.
This, coupled with the state’s high tax rates, ended up motivating the move from Citadel to Miami. “The company has struggled to get staff in Chicago, given the increase in violence. Talent wants to live in safe cities,” explained Zia Ahmed, spokesperson for Citadel.
Miami, Florida: among the most benefited cities with the exodus of inhabitants
What happens at Citadel is not incidental. During the pandemic and with teleworking, many of your workers had already moved on their own to the state of Florida. Looking for a better quality of life: lower costs and better climate.
And just as it happened in Chicago, it’s happened in several states across the U.S., with people looking for a better life in Florida. A clear example of that is the growth of more than 2.7 million people in the state alone during 2010 and 2020. Virtually twice the growth rate of the country’s general population.
The new offices – about 90,000 square feet – will open in the Brickell neighborhood, Miami’s financial center. And the company will offer incentive packages for relocating its employees, in addition to hiring new local talent.
The arrival of such a large company is expected to further enhance investments in the city and intensify the market over the next few years.
Longstanding relationship between Ken Griffin and the city of Miami
Griffin is no stranger to Miami. The businessman has already donated nearly $500 million to local causes. Including a linear park in the city and a free internet project. In Chicago’s more than 30 years, he donated more than $600 million to philanthropic works.
Griffin was born in Palm Beach County in South Florida, and when she moved to Chicago she did so for the warmth of the inhabitants. From politicians to entrepreneurs. Everyone collaborating to make your business successful. You now expect the same in Miami, where Mayor Francis Suárez has already welcomed you.
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