Financial services firm CEO Shirl Penney tells Entrepreneur how relocating to St. Pete increased his company’s finances and ability to invest in technology for the business while also improving his employees’ quality of life.
Dynasty Financial Partners relocated to St. Petersburg in 2019, driven by financial factors like cost of living and tax environments, and quality of life issues such as commute times, as well as experiencing increased competition for talent in the New York metro area.
In Entrepreneur he discusses the benefits of Dynasty’s move, noting that, “Assets, revenue, personnel, basically everything across the board has doubled since we decided to move the business to Florida.”
“Our employees are set up to be in a better position financially, too,” he adds. “When you apply the cost of living and the tax savings, the average person within the company essentially got a 20- to 25-percent raise.”
For more, see “One of the Best Business Decisions I Ever Made: Relocating to Florida” on Entrepreneur.com.
