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Goldman Sparks Florida’s Effort to Become Wall Street South

  • Pandemic has prompted firms to weigh leaving Wall Street
  • Arrival of Goldman, Elliott could create snowball effect
In 2017, South Florida development officials went into overdrive to pitch wealthy Northeasterners on the value of moving to zero-income-tax Florida.

In 2017, South Florida development officials went into overdrive to pitch wealthy Northeasterners on the value of moving to zero-income-tax Florida.

Photographer: EVA MARIE UZCATEGUI/AFP via Getty Images

Goldman Sachs Group Inc. and Elliott Management Corp. are breathing new life into the decades-old idea of converting the Miami-to-West Palm Beach corridor into a southern hub for finance and investing, a notion that would have monumental implications for the area’s development.

Long a second-home destination for America’s multimillionaire and billionaire class, the region has struggled to convince those same people to bring their companies to the Sunshine State.