As of 2021, over 95,000 Canadian-born people lived in Florida. In 2022, 21,935 Canadians moved to Florida, the largest number of any state. An estimated 3.3 million Canadians visited Florida last year, up from 3.23 million in 2023, but short of the 4.088 million in 2019.
As of 2021, over 95,000 Canadian-born people lived in Florida. In 2022, 21,935 Canadians moved to Florida, the largest number of any state. An estimated 3.3 million Canadians visited Florida last year, up from 3.23 million in 2023, but short of the 4.088 million in 2019.
From "the Canada Connection" according to Consul General of Canada in Miami, Sylvia Cesaratto. “We’re the biggest foreign investors when it comes to private real estate in Florida,” she adds, citing over $600 million in local property taxes that Canadians contribute annually.
Not all these new residents are retirees sipping margaritas on the beach. “You see interest from Canadian corporations and entrepreneurs [who want] to come down here,” says Louis Guay, a tax principal at Kaufman Rossin and Chairman of the Board for the Canada-Florida Chamber of Commerce (CFCC). According to a report by research firm Joorney, 2021 saw an influx of Canadians who moved to Florida to start a business with the E-2 visa, which is a non-immigrant visa given to individuals from treaty countries who have invested or are in the process of investing a substantial amount of capital in a U.S. business. Many Canadian entrepreneurs use this to start or expand their businesses in Miami. “There’s this connection between Canada and South Florida that’s been around for a very long time, starting with the Canadian snowbirds,” says Guay.
Indeed, Canada is one of Florida’s most important trade partners. Last year, Canada and Florida had a trading relationship of $8 billion, making it the No. 2 export destination and No. 3 import origin for Florida. Enterprise Florida’s Canada office director, Hesam Houryaband, jokes that “Canadians know Florida more than they know other provinces in Canada.” Citing their affinity for the climate, and the similarities in time zone and language, “it only makes sense for them to expand into Florida,” he says.
Moreover, Miami’s reputation as the Gateway for the Americas is important to Canadian companies. “One thing that stands out is South Florida’s regional location, not just for the Southeast U.S., but also the Caribbean and the Latin American markets,” Houryaband says. “When a Canadian company wants to expand to those territories and markets, the most natural place [to] do it from is Miami.” It’s also often cost-effective to have Canadian products depot at a free trade zone in South Florida before shipping them to Latin America or the Caribbean. “With the deep-water ports and international access routes, [Greater Miami] becomes a sort of launching pad for them.”
Along with the seaports, Miami International Airport (MIA) is another key for Canadian cargo operations. The airport is the United States’ primary cargo gateway to Latin America, which Canada’s largest airline, Air Canada, uses to full advantage. Besides flying with a combination passenger-and-freighter fleet, the airline intends to invest in more all-cargo aircraft in the future, including the first converted 767 cargo jets, which began operating on routes linking Miami to Toronto in October 2021. This made Miami the airline’s first scheduled freighter destination in the continental U.S.
“We are seeing a very strong demand complemented with cargo, [so] we are adding dedicated freighter aircraft into the fleet,” says Vincent Gauthier-Doré, senior director of sales at Air Canada. “Miami is a key hub for us to import and export goods between the two countries and further into Latin America.” In April of last year, the airline ordered two factory-built B767-300Fs that are expected to begin operating this year. This is in addition to the newly built B777Fs that are expected to begin service in 2024, expanding Air Canada’s cargo freighters from three to twelve between now and the end of 2024.
How about Baghdad By the Sea?
As of 2021, over 95,000 Canadian-born people lived in Florida. In 2022, 21,935 Canadians moved to Florida, the largest number of any state. An estimated 3.3 million Canadians visited Florida last year, up from 3.23 million in 2023, but short of the 4.088 million in 2019.
From "the Canada Connection" according to Consul General of Canada in Miami, Sylvia Cesaratto. “We’re the biggest foreign investors when it comes to private real estate in Florida,” she adds, citing over $600 million in local property taxes that Canadians contribute annually.
Not all these new residents are retirees sipping margaritas on the beach. “You see interest from Canadian corporations and entrepreneurs [who want] to come down here,” says Louis Guay, a tax principal at Kaufman Rossin and Chairman of the Board for the Canada-Florida Chamber of Commerce (CFCC). According to a report by research firm Joorney, 2021 saw an influx of Canadians who moved to Florida to start a business with the E-2 visa, which is a non-immigrant visa given to individuals from treaty countries who have invested or are in the process of investing a substantial amount of capital in a U.S. business. Many Canadian entrepreneurs use this to start or expand their businesses in Miami. “There’s this connection between Canada and South Florida that’s been around for a very long time, starting with the Canadian snowbirds,” says Guay.
Indeed, Canada is one of Florida’s most important trade partners. Last year, Canada and Florida had a trading relationship of $8 billion, making it the No. 2 export destination and No. 3 import origin for Florida. Enterprise Florida’s Canada office director, Hesam Houryaband, jokes that “Canadians know Florida more than they know other provinces in Canada.” Citing their affinity for the climate, and the similarities in time zone and language, “it only makes sense for them to expand into Florida,” he says.
Moreover, Miami’s reputation as the Gateway for the Americas is important to Canadian companies. “One thing that stands out is South Florida’s regional location, not just for the Southeast U.S., but also the Caribbean and the Latin American markets,” Houryaband says. “When a Canadian company wants to expand to those territories and markets, the most natural place [to] do it from is Miami.” It’s also often cost-effective to have Canadian products depot at a free trade zone in South Florida before shipping them to Latin America or the Caribbean. “With the deep-water ports and international access routes, [Greater Miami] becomes a sort of launching pad for them.”
Along with the seaports, Miami International Airport (MIA) is another key for Canadian cargo operations. The airport is the United States’ primary cargo gateway to Latin America, which Canada’s largest airline, Air Canada, uses to full advantage. Besides flying with a combination passenger-and-freighter fleet, the airline intends to invest in more all-cargo aircraft in the future, including the first converted 767 cargo jets, which began operating on routes linking Miami to Toronto in October 2021. This made Miami the airline’s first scheduled freighter destination in the continental U.S.
“We are seeing a very strong demand complemented with cargo, [so] we are adding dedicated freighter aircraft into the fleet,” says Vincent Gauthier-Doré, senior director of sales at Air Canada. “Miami is a key hub for us to import and export goods between the two countries and further into Latin America.” In April of last year, the airline ordered two factory-built B767-300Fs that are expected to begin operating this year. This is in addition to the newly built B777Fs that are expected to begin service in 2024, expanding Air Canada’s cargo freighters from three to twelve between now and the end of 2024.
I am sure that AZ would be happy to take up the slack from Florida. Not many beaches but nicer winters than parts of Canada.
AZ is not the defacto financial capitol of South America and the Carribbean.
Not yet. FL has, of course, been the center of money laundering for Latin America. That may not be a business that AZ or CA want to take over.