WASHINGTON (dpa-AFX) - Palantir Technologies announced on Tuesday that it is relocating its headquarters from Denver to Miami.
The move makes Palantir the latest major firm to shift its base to South Florida, as business leaders increasingly position the region as a growing center for finance and technology.
Florida's favorable tax environment has attracted a wave of high-profile executives and billionaires in recent years, particularly as debates continue in California over a proposed 5% wealth tax on residents with net worth exceeding $1 billion.
Technology companies and financial firms have been drawn to the state, with Mark Zuckerberg reportedly purchasing property in Florida and Palantir co-founder Peter Thiel establishing a presence in Miami.
Founded in Palo Alto, California in 2003, Palantir moved its headquarters to Denver in 2020. At the time, CEO Alex Karp signaled frustration with Silicon Valley's evolving culture, writing that the company no longer shared many of the technology sector's prevailing values.
Palantir said it had 4,429 full-time employees at the end of last year, with major offices in Palo Alto, New York, Washington and London, as well as leased space across Europe, Asia and the Middle East.
Other large firms, such as ServiceNow and hedge fund Citadel, are also expanding their presence in the South Florida region.
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