J.P. Morgan CEO praises Florida’s business climate as the company expands its presence in the state

by | Mar 7, 2023

  • J.P. Morgan CEO Jamie Dimon praised Florida’s business environment and its pro-business policies in a recent interview with Bloomberg.
  • Dimon encouraged other states to follow Florida’s example in terms of taxes and business regulation.
  • J.P. Morgan is expanding its presence in Florida and committing $10 million towards the Tech Equity Miami initiative to promote inclusivity in hiring practices.
  • Several other large enterprises, such as Citadel, have moved to Florida, citing its favorable tax structure and business-friendly atmosphere.
  • J.P. Morgan’s asset management division has invested in major real estate projects throughout the state and was re-appointed by the Florida State Board of Administration as manager for a second tranche of the Florida Growth Fund.

In an interview with Bloomberg on Monday, J.P. Morgan CEO Jamie Dimon praised Florida’s business environment, asserting that moves made by state legislators in recent years have facilitated strong economic growth.

Dimon, a frequent donor to the Democratic Party, remarked that “Florida likes business,” and suggested that other states should look to The Sunshine State as a guideline for policy relating to taxes and business regulation.

“They want you to come,” Dimon told Bloomberg. “We’re very pro-Florida. If you were running the state, you know, you should be thinking, ‘How can I make the state well off for my people?’”

Dimon also stated that J.P. Morgan is growing in Florida “left and right,” joining a growing number of large enterprises moving to the state. Last summer, Ken Griffin, Illinois’ richest person and founder of the investment firm Citadel, announced that he is relocating his company from Chicago to Miami, citing a more business-friendly atmosphere.

In a memo sent to employees, Griffin noted that Florida harbors a better corporate environment due to its favorable tax structure and lack of an income tax. Citadel is one of the most successful hedge-fund firms, overseeing $51 billion in assets.

J.P. Morgan has also made moves to assist in the proliferating development of Miami’s financial scene, announcing last year that it is committing $10 million toward the $100 million Tech Equity Miami initiative to support greater inclusivity in hiring practices.

“You go there, they’re optimistic,” Dimon continued. “Pro-America and pro-business.”

According to its website, J.P. Morgan has 414 branches in Florida as well as large-scale wealth management operations in Miami, Orlando, and Tampa. The company’s asset management division has invested in a number of major real estate projects throughout the state, including luxury hotels, residential properties, and commercial developments.

Further, J.P. Morgan Global Alternatives was re-appointed last year by the Florida State Board of Administration (SBA) as manager for a second tranche of the Florida Growth Fund. As part of the mandate, J.P. Morgan committed to constructing a return-enhancing private equity portfolio focused on technology, growth, and buyouts in Florida.


  1. ZiyadCarter

    It’s great to see J.P. Morgan recognizing the business-friendly climate in Florida and expanding its presence in the state. With a growing economy, favorable tax policies, and a skilled workforce, Florida is becoming an increasingly attractive destination for businesses of all sizes. As the financial industry continues to evolve, it’s important for companies like J.P. Morgan to adapt and innovate to stay ahead of the curve. And with the help of Florida’s supportive business environment, there’s no doubt they’ll continue to thrive. It will be interesting to see how J.P. Morgan’s expansion in Florida impacts the state’s economy and the broader financial landscape. Exciting times ahead!

  2. Quintan Barnes

    It’s always great to hear positive news about companies expanding their presence and creating jobs in the United States. J.P. Morgan’s move to expand in Florida is a testament to the state’s pro-business environment and its potential for growth. At ICOholder, we closely follow developments in the financial industry, and it’s interesting to see J.P. Morgan’s commitment to innovation and adaptation as the industry evolves. We’ll be keeping an eye on how their expansion in Florida impacts the fintech landscape and the wider economy. With the right policies and support, there’s no doubt that Florida will continue to attract businesses and investors alike. Exciting times ahead!

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