Here’s something I keep seeing play out: executives at energy companies—sharp, successful people who’ve built serious careers—are quietly packing up and heading to South Florida. And honestly? It’s not hard to understand why.
Florida doesn’t have a state income tax. Zero percent. When you’re pulling in executive-level money, that’s not a rounding error. That’s life-changing.
“Energy sector executives are some of the most sought-after professionals in the country right now, and they’re paying attention to where their compensation goes the furthest,” said Jim Hickey, President Managing Partner at Perpetual Talent Solutions, a Fort Lauderdale executive search firm. “When you’re talking about executive-level salaries, the difference between Florida and high-tax states like California or New York isn’t pocket change—it’s hundreds of thousands of dollars over a career.”
Let’s Talk Numbers (Because They’re Wild)
California’s top income tax rate just hit 14.63 percent for anyone making over a million. New York? Over 10 percent, and if you’re in the city, tack on even more. Florida charges you exactly nothing.
So picture this: you’re an executive earning a million a year. In California, you’re handing over $140,000+ to the state before you even start thinking about federal taxes. In Florida, you keep that money. Every single year. Over a decade, we’re talking about enough to buy a house. Maybe two.
And it’s not just a few people figuring this out. Florida is seeing a net annual income migration of $39.2 billion. More than half is coming from the usual suspects—New York, New Jersey, California, Illinois, Pennsylvania. The state is gaining roughly 1,000 new residents daily, and over 20,000 high-earning households made the move in 2024 alone.
That’s not a trend. That’s a migration.
Why Fort Lauderdale? (And Not Just Miami)
Look, Miami gets all the attention. But here’s what I think a lot of people miss: Fort Lauderdale has something Miami doesn’t—breathing room.
The Greater Fort Lauderdale area has quietly built a reputation as one of the top mid-sized metros for business. You still get every tax advantage Florida offers. But without the traffic nightmare. Without paying Miami prices for everything.
“Fort Lauderdale hits a sweet spot that many executives find appealing,” Hickey explained. “You get all the tax advantages of Florida, excellent quality of life, and a business community that’s genuinely collaborative without the congestion and premium pricing you see in Miami. For energy company leaders who need to stay connected to operations across the country, Fort Lauderdale’s airport and infrastructure make it incredibly practical.”
And companies are noticing. Broward County has seen over $2 billion in capital investment flow into local projects recently. Aviation, life sciences, professional services—they’re all putting down roots here. Oh, and as of 2025, Florida eliminated taxes on business leases entirely. So if you’re thinking about relocating your whole operation? The math just got even better.
The Energy Industry Angle
This part surprised me when I first learned it: Florida already has a serious energy sector. NextEra Energy, based in Juno Beach, is the largest energy company in the United States. They serve over 10 million people through Florida Power and Light. The state ranks third nationally in electricity generation and is home to over 410 solar companies.
So it’s not like you’re moving to a place where nobody understands what you do.
“We’re seeing energy executives who recognize that South Florida isn’t just a tax haven—it’s becoming a legitimate hub for the industry,” Hickey noted. “The renewable energy sector here is exploding, traditional utilities are investing heavily in infrastructure, and there’s real opportunity for leaders who want to be part of that growth.”
The ecosystem is there. And it’s growing.
But Honestly? The Lifestyle Seals the Deal
Here’s what I hear again and again from people who’ve made the move: they came for the tax savings. They stayed for everything else.
Year-round sunshine. Beaches you actually want to spend time on. Shorter commutes. More time with family. The region’s projecting 38 percent job growth over the next decade, so the economic momentum is real.
“Tax savings get executives interested, but lifestyle keeps them here,” Hickey observed. “I’ve worked with energy sector leaders who initially viewed the move purely through a financial lens. Six months later, they’re talking about how their quality of life has transformed—shorter commutes, more time with family, better weather. The tax benefits almost become secondary.”
And then there’s the long-term wealth stuff. Florida’s homestead exemption can knock up to $50,000 off your property tax assessment. No inheritance tax. No estate tax. If you’re thinking about building generational wealth, these things matter.
What It Actually Takes to Make the Move
Real talk: you can’t just buy a condo in Fort Lauderdale and call yourself a Florida resident. The IRS and your old state aren’t that naive.
You’ll need to actually live here—at least 183 days a year. Get a Florida driver’s license. Register to vote. Update your legal documents, bank accounts, all of it. This has to be your real home, not just a vacation spot you claim on your taxes.
And if you’re coming from New York or California? Be ready for scrutiny. These states are known for aggressive residency audits. They’ll look at where your doctors are, where your kids go to school, where your car is registered. Every detail.
“The smart executives start planning their transition well before they make the move,” Hickey advised. “Working with tax professionals who understand both the opportunities and the compliance requirements is essential. The benefits are substantial, but only if the relocation is structured properly.”
If you’re maintaining business ties to your old state—especially equity compensation or deferred income—you might still have some tax obligations there. Get professional advice. It’s worth it.
The Competition Is Heating Up
More executives are figuring this out. Which means more competition for the best roles in the region. But it also means companies are coming here too, bringing opportunities with them.
Fort Lauderdale’s talent pipeline is getting stronger. Florida Atlantic University and Nova Southeastern University are feeding the local workforce. Tech alone employs about 9,500 people here and is growing fast—which matters more and more as energy companies lean into digital transformation.
For energy executives weighing their next move, the case for Fort Lauderdale is pretty compelling. The tax advantages put real money back in your pocket. The business environment supports long-term success. And the region is growing in ways that suggest these opportunities are just getting started.
The people making this move now? They’re getting in early on something big.
