Florida's Tax Incentives Attract Hedge Fund Elite, Governor Rick Scott Promotes Relocation

Florida's Tax Incentives Attract Hedge Fund Elite, Governor Rick Scott Promotes Relocation The passage outlines a coordinated effort by Florida officials and business leaders to lure hedge fund and private equity firms to the state using tax advantages and personal outreach by Governor Rick Scott. It provides concrete details (tax differentials, Section 457A deadline, specific individuals, and events) that could be pursued for deeper investigation into potential financial benefits, lobbying, or conflicts of interest, but it lacks direct evidence of wrongdoing. Key insights: Governor Rick Scott sent personal letters to Northeastern financiers encouraging relocation to Florida.; Kelly Smallridge, CEO of the Palm Beach Business Development Board, runs red‑carpet tours and events targeting hedge fund managers.; Section 457A of the Internal Revenue Code will force deferred fees back to the U.S. by 2017, creating a tax incentive for managers residing in Florida.