Palm Beach County morphs into a low-tax tech and finance hub for wealthy migrants

Palm Beach County, long known as a retirement and snowbird destination, is rapidly becoming a technology and financial hub as affluent migrants seek alternatives to high-tax states like New York and California. Margit Brandt, a luxury-real-estate expert, says the area now attracts CEOs and corporate leaders who are drawn by Florida’s tax climate and quality of life. IRS data for 2022-2023 reveal taxpayer losses in many California and Northeastern counties while the Southeast, including Palm Beach, records gains.

The shift gained momentum when ServiceNow, a California-based software firm, announced a West Palm Beach innovation hub and artificial-intelligence institute in September 2025, forecasting $1.8 billion in economic impact and more than 850 jobs over five years. The project will occupy up to 200,000 sq ft at 10 CityPlace, a development linked to billionaire Stephen Ross’s Related Ross. Palm Beach County’s population reached an estimated 1.58 million in July 2025, a 5.6% increase since 2020, and new office spaces in West Palm Beach and Palm Beach Gardens are easing corporate entry. The region’s appeal also includes year-round outdoor activities, warm weather, and family-friendly amenities, suggesting the transformation is still in its early stages.