(Bloomberg) — Palantir Applied sciences Inc. stunned everybody on Tuesday by saying it had relocated its headquarters from Denver to Miami in a quick social media submit.
The agency has supplied few particulars past its submit on X, which learn: “We’ve moved our headquarters to Miami, Florida.”
Again in Colorado, aides to the governor and Denver’s mayor places of work stated they’d 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 stuffed in a number of extra particulars. Palantir listed its new deal with for “principal government places of work,” which tracks to a co-working area in Aventura, about 17 miles north of downtown Miami.
The situation maybe speaks to the hurried nature of the transfer and the truth that Palantir — at the very least initially — isn’t more likely to have an enormous variety of staff on the bottom. Different firms which have moved their headquarters to South Florida in recent times, like Citadel, have stored the majority of staff in main monetary capitals corresponding to New York — at the same time as prime executives like Ken Griffin decamped to the south.
To make certain, Palantir is on the lookout for extra everlasting workplace area in prime areas in Miami, together with Wynwood, Brickell or Coral Gables, based on an individual with information of the matter.
A Palantir spokesperson declined to remark. A receptionist on the Industrious co-working area 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 develop into essentially the most priceless 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 staff, 28% of them outdoors the US. The corporate continues to take care of different places of work in areas 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, purchasing 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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