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Business Development Board of Palm Beach County CEO Kelly Smallridge on what makes Palm Beach County an attractive place to live and work.
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Back yeah.
Our trip to Florida yeah I understand -- it is certainly alluring but New -- hedge but executives are fleeing to the sun sun sunshine state for other reasons in -- -- Got the plum assignment in Miami today to tell us why -- -- -- A law hello ways and yes and admit that the governor of Florida governor Rick Scott called -- -- -- I didn't give me a favor.
-- -- some business and to Florida hedge funds.
Different manufacturing companies from around the world.
And all you have to do is well.
Nothing that is -- -- -- Allred joins me right now she's had a Palm Beach.
A development you the president CEO let's talk a little bit of that decision this afternoon frankly but this is your life every -- and now you've got.
Multiple hedge fund executives.
-- knocking on your door haven't a call them -- calling you know.
Absolutely this story broke of hobbies -- about two weeks ago.
Ever since that time there have been one did you -- spends -- per day inquire about the business environment comes -- -- -- reading it -- it is a very attractive -- environment that is why they're looking at this area.
You know it's amazing that that governors got -- this public private partnership that you that you are working on in the entire state is trying to push this through and replaced Florida.
From the governor but it can't I go back to those those -- but executives up in the tristate area Connecticut mostly I know and New York what are they telling you that is the main draw offer them.
Do business here -- -- set -- shop and Palm Beach in particular witness too big drops first of all companies usually is witness CEO once delay and Thomas Arnold.
Have to be win the safest and best corporate quality like that you could possibly want.
Second of all the tax environment is.
Incredibly less in the state of rising and we have his state personal income tax.
Somebody that's making a million dollars in Manhattan -- -- 147000.
Dollars in taxes.
If you're not paying an arms and learning that alone.
Can pay for a very small part that was so they like this tax savings they're thinking about their employees -- This area that they only the public and private schools and that is all very very importantly.
-- -- -- -- No inheritance tax and all of intermittently his ruling them into the stable and independent movement toward him that's been some criticism here -- -- kind of at a local papers that you well.
Out of business crony capitalism.
About the station not spending valuable tax dollars Florida dollars.
On initiatives like that's how -- responded to critics.
Enterprise Florida is not finding this hedged about recruitment initiative and Arafat -- -- northern state of north -- -- What you're -- her back.
Better get rescued companies ended their operations here in what is often not told.
Is that tax incentives today outperformance base in -- you actually have to create -- jobs and spend money in awarded -- draw down on.
This -- and says there are some plot acts and they're not -- it's what tips the scale in our favor.
It -- two sites are comparable.
It swings that his state of Florida say they're very competitive incentive package isn't making it different.
Let me ask you definitely what -- -- -- -- the last couple awake the most memorable conversation that you have had.
What -- hedge -- executive April don't like to be named as our viewers know below estimates and think conversation you I have every day is very interesting everywhere in this very different I had originally tell me that indiscriminately at the breakers.
It up -- what operative it breaks and -- that completely -- that was the op -- as they overlooking the ocean.
About 101000 square feet which we have plenty of that well my wife is on the other side Palm Beach on the and I tourists to buy -- we'll.
Sized house that she won't be that that is savings that we'll have -- brainer it only here is unbelievably higher than the continental town.
It brass were looking at a long term.
Recruitment effort pretty -- -- -- cultivating relationships.
Ali that is the story tell -- Morris from -- -- thank you so much really appreciate your time and landlord let's explain coming up -- the next hour we're going to be talking.
I would seven -- from -- -- dot net -- exactly is doing the same they know we're talking about here is.
You -- is hedge funds he works with hedge funds provides -- -- to hedge fund.
He's going to be talking about big influx of hedge funds coming into Florida that's the next hour of markets now and then tomorrow all -- Fox Business gonna stay in Miami.
For the Miami international boat show it got 2000 companies from around the world about 3000 water -- yachts and more and we're gonna be on.
Some of these water -- ladies.
We're gonna be out on the water tomorrow all along on Fox Business -- CF in the studio in theory course your lips to.
