WEST PALM BEACH, Fla. (CBS12) — It wasn’t on most people’s radar — but this week, some of the world’s most influential and wealthiest business leaders gathered in West Palm Beach for the Wall Street Journal’s Invest Live conference.
The multi-day event brought CEOs and investors from around the globe to a city now actively pitching itself as a national hub for business and innovation.
“There is something special happening here,” said Almar Latour, CEO and Publisher of The Wall Street Journal. “We had to choose a location that was vibrant and maybe a little unexpected on the global stage — and so here we are.”
Among those drawn to South Florida was Palm Beach–based billionaire Ken Griffin, founder and CEO of Citadel, who spoke candidly about his decision to move away from Chicago.
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“Look, there’s a natural question about why did you leave Chicago,” Griffin said.
Griffin pointed to his experience during the COVID-19 pandemic, when part of Citadel temporarily operated out of the Four Seasons Hotel in Palm Beach. When the firm later returned to Chicago, he said the contrast was clear.
“One of my most senior partners said, I have a question — why did we come back?” Griffin recalled. “The quality of life in Florida is better, the streets are safer, the schools are better, the weather is certainly better.”
Since then, Citadel has moved part of its business to Miami, joining a growing list of major financial firms expanding across South Florida.
‘Ambition Accelerated’
Now Griffin and developer Stephen Ross are backing a new $10 million effort aimed at positioning South Florida — and West Palm Beach in particular — as a national hub for CEOs and high-growth companies.
The initiative, called “Ambition Accelerated,” is being led by the Florida Council of 100 and launched during the Invest Live conference.
“We are going to CEOs, investors, and founders across the country and basically saying to them — here’s the fact set about Florida,” said Mike Simas, President and CEO of the Florida Council of 100.
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Simas said the pitch is simple: lower taxes, lighter regulation, and a business-friendly environment.
Using a putting green installation set up during the conference, Simas compared doing business in South Florida to an easy shot.
“Elsewhere, there’s red tape — it’s harder to finish what you’re trying to do,” Simas said. “Here in South Florida, it’s really a straight putt — it’s a gimme.”
Eric Silagy, vice chairman at Related Ross, said the approach from local leaders has been noticeably different.
“The question that’s first out of people’s mouths is, how can we help you succeed?” Silagy said.
Major investments in the city
Those efforts are already translating into major development. The Cleveland Clinic is building a $650 million hospital and cancer research center in West Palm Beach, while Vanderbilt University is opening a new campus just a block away.
Mayor Keith James said the pace of growth has been fast, but collaboration with developers has helped the city prepare.
“I’m happy to say developers like Stephen Ross and others — that message of inclusive growth is resonating,” James said.
Silagy added that the growth is bringing tangible benefits for residents.
“With this growth comes a lot of benefits,” he said. “There’s been tremendous investment, the city is vibrant, and that generates tax revenue — giving us the opportunity to invest more in our schools, parks, and recreation.”
With global business leaders now taking notice, West Palm Beach is no longer just a host city — it’s making a case to be the next destination for American growth.
