Replies

One of the things that made Wall Street a financial capital was that New York State laws and regulations were tailored to sound financial operations in the corporate world. Historically, companies in the financial sector had to meet very stringent regulatory standards in New York. This made NY-based companies in industries like banking and insurance much more stable and reliable than those in other states.

I don’t think Florida will ever come close to capturing a sizable piece of Wall Street. My rationale is probably odd: I have never seen Florida as a serious place to do business. Take a look at the Fortune 500 companies headquartered there, and notice how few names you even recognize. They seem to be heavily concentrated in the grocery and leisure/entertainment sectors. CSX Transportation — one of a half-dozen Class I railroads in North America — is the only one I can think of that has a critical presence that has impacts across multiple industries on a regional or national level.

My rationale is probably odd: I have never seen Florida as a serious place to do business.

Dickie Dunn said it best...

"I think there are a lot of shysters in Florida."

I don’t think Florida will ever come close to capturing a sizable piece of Wall Street.

wall st is no longer the market of commodities selling on the block. it's traders making digital trades, many of which do not involve humans. as such, there is absolutely no requirement to be in any particular location, especially NYC. it makes much more sense to move trading operations to the most tax friendly locations possible... which may include other countries.

as for florida... there are FAR more retail outlets in florida compared to any other state i've been through.