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Florida Saw The Second Highest Population Growth Of Any State Over The Past Year

Florida’s population continues to rise faster than almost anywhere else, data released by the Census Bureau shows.

In just a single year ending in 2020, Florida’s resident population increased by 241,256, the agency said.

That mean’s that Florida saw an increase in population over the past year that was higher than any other state except Texas.

The data covers changes between July 2019 and July 2020. The figures were released on December 22.

Next year, those numbers could rise even faster as a result of the pandemic.

In the second half of the year, Miami’s real estate market rose to a new record high, with analysts saying that migration trends to Florida were accelerating as a result of covid-19.

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Goldman Sachs plans move to South Florida

Investment bank has looked at spaces in Palm Beach County, Fort Lauderdale for asset management arm

Goldman Sachs Group is considering moving its asset management division to South Florida, potentially joining other financial giants who have left New York for the Miami area.

The investment bank has looked at spaces in Palm Beach County and Fort Lauderdale, Bloomberg reported. Goldman Sachs is looking to take advantage of tax benefits if it opens a home base in Florida. Florida, which lacks a state income tax, has increasingly attracted wealthy executives throughout the pandemic.

Goldman Sachs’ asset management arm brings in about $8 billion a year, accounting for about a quarter of its revenue, according to Bloomberg. Investment professionals and back-office staff would eventually work out of the Florida office.

Earlier this year, Goldman Sachs managing director Douglas Sacks paid nearly $12 million for a condo at Eighty Seven Park in Miami Beach.

A number of major investment firms have opened offices or moved their headquarters to South Florida. Ken Griffin’s Citadel, Paul Singer’s Elliott Management Corp. and Blackstone Group are all making the trip south. Blackstone will operate out of the Southeast Financial Center in downtown Miami until it moves to a permanent location for its tech employees nearby, executives said during a recent webinar.

Singer is moving the headquarters of his hedge fund to West Palm Beach from Midtown Manhattan, as his expected successor, Jon Pollock, relocated to his West Palm home during the pandemic.

If Florida doesn’t pan out, Goldman Sachs is instead considering expanding in Dallas. [Bloomberg] Katherine Kallergis

Sources: The Real Deal

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