(Bloomberg) — Palantir Applied sciences Inc. shocked everybody on Tuesday by saying it had relocated its headquarters from Denver to Miami in a quick social media publish.
The agency has supplied few particulars past its publish on X, which learn: “We have now moved our headquarters to Miami, Florida.”
Again in Colorado, aides to the governor and Denver’s mayor places of work mentioned that they had no advance discover. In Florida, boosters of the area’s insipid tech scene cheered the information as one other validation of efforts to make its sunshine and low-tax regime a lure for companies and billionaires.
A ten-Ok submitting with the Securities and Change Fee on Tuesday crammed in a number of extra particulars. Palantir listed its new handle for “principal govt places of work,” which tracks to a co-working house in Aventura, about 17 miles north of downtown Miami.
The placement maybe speaks to the hurried nature of the transfer and the truth that Palantir — not less than initially — isn’t prone to have an enormous variety of workers on the bottom. Different firms which have moved their headquarters to South Florida lately, like Citadel, have saved the majority of workers in main monetary capitals akin to New York — whilst prime executives like Ken Griffin decamped to the south.
To make certain, Palantir is in search of extra everlasting workplace house in prime places in Miami, together with Wynwood, Brickell or Coral Gables, in accordance with an individual with information of the matter.
A Palantir spokesperson declined to remark. A receptionist on the Industrious co-working house in Aventura declined to say whether or not Palantir was a tenant when contacted by telephone.
With the headquarter transfer, Palantir, with a market capitalization of about $332 billion, would turn into probably the most worthwhile publicly traded firm formally primarily based in Florida, far surpassing NextEra Vitality Inc. On the finish of final yr, the corporate reported 4,429 full-time workers, 28% of them exterior the US. The corporate continues to keep up different places of work in places together with Palo Alto, California, New York and Washington DC.
Whereas Colorado state’s company tax is decrease than Florida, the “Sunshine State” doesn’t cost private revenue tax, which is an incentive for workers primarily based there. And if finance companies are any indication, South Florida tends to draw C-suite sort executives first, given the dear actual property.
Peter Thiel, the billionaire tech veteran who’s chairman of Palantir, lately relocated his personal funding agency to an workplace in Wynwood, a rising arts, procuring and leisure district in Miami. He additionally owns a house within the metropolis and his Founders Fund retains an workplace there.
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