In a recent Site Selection article, executive vice president Ron Starner documents a fundamental shift in Florida’s economic identity — and three companies that relocated to St. Pete are front and center in making the case.
Starner’s reporting paints a state in transformation. According to data he cites from the Florida Chamber Foundation and Florida TaxWatch, roughly $39.2 billion in net wealth transfers to Florida each year — equivalent to $4.48 million in individual net assets arriving every single hour. That capital isn’t sitting still. It’s flowing into corporate expansions, new facilities, and a talent ecosystem that Lightcast recently ranked No. 1 in the nation on its Talent Attraction Scorecard for the second consecutive year.
For CEOs evaluating where to put down roots, the Gulf Coast is earning its own chapter in that story.
St. Pete: where the deals are landing
According to the Conway Projects Database cited in the article, Pinellas County landed 20 major corporate facility investment projects between January 2025 and February 2026 — ranking it seventh among all Florida counties and placing it in the company of markets like Hillsborough, Orange, and Palm Beach.
Three of those projects represent a pattern worth noting: financial services and technology firms leaving high-cost, high-tax markets for St. Pete.
Dynasty Financial Partners, a New York-founded registered investment advisor support platform, relocated to St. Pete in 2019 after conducting a national site search that included Charlotte, Nashville, and multiple Florida markets. As chief talent officer Mason Salit told Starner, when Dynasty met with the city’s economic development team, “St. Pete by far had it all.” The firm now employs 200 people downtown and is preparing to anchor 44,000 square feet — including 15,000 square feet of rooftop space — at 400 Central, a new 37-story tower.
Trading platform Webull, now the second-largest digital broker in the U.S. behind Robinhood, moved from New York City to Carillon business park roughly three and a half years ago. Chief of staff Carlos Questell told Site Selection the firm evaluated Atlanta, Charlotte, Austin, Denver, and Miami before landing here — and they liked what they found enough to buy their building outright. Questell offered perhaps the most direct endorsement in the piece: “This is the best decision we’ve ever made, and we’ve stopped hiring in New York.”
SmartChoice Communications founder Jarrett Wolfe echoed the sentiment. The telecom and internet security firm relocated from New York in 2021, with Wolfe describing St. Pete as having “a unique mix of visitation, hospitality, and a strong business core — including finance, technology, real estate, and other professional services.”
What it means for your next move
Site Selection is the publication site selectors and economic development professionals rely on to evaluate markets. A feature like this one is an independent signal that St. Pete has crossed the threshold from emerging to established.
Read the full article at Site Selection.
Curious what St. Pete could mean for your business? The St. Pete EDC would love to show you. Let’s talk.
