Chicago Businesses Reject Calls to Relocate to Florida

Billionaire Ken Griffin's pitch for Florida falls flat with Chicago's business community.

Published on Feb. 9, 2026

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Billionaire financier Ken Griffin, who recently moved his business from Chicago to Miami, has been urging other companies to follow suit and relocate to Florida. However, Chicago's business leaders are pushing back, citing the city's superior universities, younger workforce, more temperate climate, and progressive political leadership as key reasons to stay put.

Why it matters

Griffin's move to Florida has sparked a debate about the relative merits of the two states for businesses. As a major financial and business hub, Chicago's ability to retain its corporate residents is crucial for the city's continued economic vitality.

The details

Griffin, who made his fortune in Chicago, left the city in 2022 to move his hedge fund Citadel to Miami. He has since been touting Florida as the 'best business state' due to its 'access to talent, regulatory predictability, cost structure and quality of life.' However, Chicago business leaders argue the city offers superior universities, a younger workforce, a more temperate climate, and a more progressive political climate that is better suited for businesses.

  • Ken Griffin moved his hedge fund Citadel from Chicago to Miami in 2022.
  • Griffin has been publicly promoting Florida as the 'best business state' since his relocation.

The players

Ken Griffin

A billionaire financier who recently moved his hedge fund Citadel from Chicago to Miami.

JB Pritzker

The Governor of Illinois, who has positioned the state as a 'haven for reproductive health' and rejected the teaching of critical race theory in schools.

Ron DeSantis

The Governor of Florida, who has signed legislation banning abortion after six weeks and proposed a bill to ban the teaching of critical race theory in Florida schools.

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What they’re saying

“Florida is one of the best business states, if not the best business state, in the country. Access to talent, regulatory predictability, cost structure and quality of life are critical. When you're deploying capital and committing resources over a 20-year horizon, getting those basics right matters more than almost anything else.”

— Ken Griffin (Chicago Magazine)

“We do not believe that critical race theory is 'an attack on white people.'”

— JB Pritzker, Governor of Illinois (Chicago Magazine)

What’s next

The debate over the relative merits of Illinois and Florida for businesses is likely to continue, with both states vying to attract and retain corporate residents.

The takeaway

While Florida may offer certain business-friendly policies, Chicago's superior universities, younger workforce, more temperate climate, and progressive political leadership make it a more attractive destination for many businesses looking to invest over a long-term horizon.