St. Petersburg’s Economic Development Corporation (EDC) is actively courting Canadian businesses eager to establish a U.S. foothold. After a September “Canada Meets Florida” recruitment trip to Toronto, the EDC reports that eight to ten Canadian firms have expressed genuine interest in locating operations in the city.
Local leaders highlight advantages
Mike Swesey, president and CEO of the St. Petersburg Area Economic Development Corporation, told the Catalyst that the city’s lack of a state personal income tax, its access to a broad Tampa Bay labor pool, and strong transportation links are key draws for foreign investors. “We’re actively following up with eight to ten companies that have expressed real interest in learning more about St. Pete,” Swesey wrote.
The Canadian delegation, which included more than 60 business leaders, toured local sites and met with attorneys, bankers and other advisers gathered in a single room to streamline the expansion process. Participants heard from local executives who have already made the move, such as Dynasty Financial Partners, which relocated its headquarters from New York in 2019, and ARK Invest, which followed in 2021.
Industry mix and potential impact
Represented industries span financial services, technology, manufacturing and health‑related research. If even a fraction of the interested firms decide to set up shop, St. Petersburg could see a boost in investment and the creation of new jobs, complementing the 137 jobs the EDC helped generate in targeted industries during 2025.
Adam Kupsta, CEO of Oncore Cloud Services, helped organize the Toronto event after proposing the idea to Swesey earlier this year. Kupsta, whose company first opened a U.S. office in Atlanta before moving it to St. Petersburg, praised the city’s collaborative business climate. “It’s the small city beside the big city,” he said, referring to St. Petersburg’s relationship with Tampa.
Challenges and support
Canadian entrepreneurs cited concerns common to cross‑border expansion: banking, taxes, hiring, immigration requirements and unfamiliar regulations. QuantumSmart founder Angela Podolsky noted that the biggest fear is simply “how do I start?” By assembling legal and financial experts in one venue, the organizers aimed to demystify those hurdles.
Dynasty Financial Partners’ chief talent officer, Mason Salit, traveled to Toronto to share why his firm chose St. Petersburg. Since arriving in 2019 with fewer than 40 employees, Dynasty has grown substantially and plans to occupy roughly 75,000 square feet at the Residences at 400 Central beginning in January. Salit praised the local business community’s warm reception, recalling that every economic development organization he met asked, “What are you going to do for us?” He added that the response in St. Petersburg was the opposite – a clear invitation to collaborate.
Next steps
The EDC intends to bring more interested parties to the city for property tours and meetings with local leaders. Swesey summed up the city’s pitch: “St. Pete makes its own best case. We just have to get people here.” With the prospect of one or two Canadian firms opening offices within several months, St. Petersburg stands poised to deepen its economic ties to Canada while reinforcing its reputation as a business‑friendly hub in Florida.
Original reporting: St. Pete Catalyst — read the source article.
