October 16, 2020
Friday, April 4, 2014
Expansion of international headquarters will create 25 jobs and a capital investment of $800,000
MIAMI, FL – Universa Investments, an investment management firm, will move its international headquarters from California to Miami. The project will create 25 jobs and $800,000 in capital investment.
Governor Scott said, “The relocation of Universa’s headquarters to Miami from California is great news for Florida families. Since December 2010, our goal has been to create jobs for Floridians, and we have been successful with the help of companies like Universa. In just over three years, we have created more than 540,000 private-sector jobs and our unemployment rate is the lowest it’s been since June 2008. Let’s keep working to make Florida the number one place for business.”
Founded in 2007, Universa is an investment management firm that specializes in enhancing long-term equity returns. Universa is one the largest hedge funds to move to Miami since Miami’s Downtown Development Authority started a campaign touting Florida’s zero income tax. Universa’s new headquarters will be located in Coconut Grove and the company plans to expand its workforce to 25 employees from 14 over the next three years. Miami is the second-largest banking and finance region in the United States, and is home to leading hedge funds, mutual funds and private equity firms.
“Florida and Miami Dade County’s business-friendly policies offer the perfect environment for Universa as we expand,” said Mark Spitznagel, founder and CIO of Universa Investments. “We are delighted to be aligned with a community that values its businesses as well as its residents,” Spitznagel said.
Most of the nation’s leading financial and professional services companies have established large operations in Florida to take advantage of its global connectivity, experienced workforce and favorable business climate. Nearly 90 percent of Florida’s gross economic output is generated in the service sector. Florida’s 122,000 financial and professional firms employ 850,000 Floridians today. Miami’s proximity to Latin America and Europe and its access to an international pool of investors was a deciding factor for the relocation of Universa.
President and CEO of Enterprise Florida Gray Swoope said, “The impact of the financial and professional services sector in Florida cannot be overstated. With companies like Universa Investments coming to Florida, it’s noticeable around the nation that the Sunshine State has the perfect business climate. Not only will this new headquarters add value to our financial and professional services sector, but Florida has once again proven its reputation as a place for businesses to thrive.”
This project was made possible with the help of close partnerships between Enterprise Florida, the Beacon Council and the Florida Department of Economic Opportunity.
“Universa is a welcome addition to our community as International Banking and Finance is a target industry for Miami-Dade County’s future growth,” The Beacon Council President & CEO Larry K. Williams said. “Miami-Dade’s connectivity to the world’s major markets, our quality of life and highly skilled and diverse workforce provide a solid foundation for business.”
Executive Director of the Florida Department of Economic Opportunity Jesse Panuccio said, “Florida’s low tax policies and business friendly environment have made Universa Investments decision to relocate to Florida an easy one. Governor Scott’s leadership in creating an opportunity economy continues to pay off. Every job created and business relocated, like Universa’s, writes another chapter in Florida’s economic turnaround story.”
Governor Scott has recommended $95 million investment for the state’s economic development incentive programs to attract new businesses and expand existing businesses in order to create high quality/high wage jobs and grow Florida’s economy. A key component is the flexibility to use these funds to react quickly to unexpected opportunities, which will enhance business retention and job creation.
Universa Investments was founded in January 2007 by CIO Mark Spitznagel, with over a decade of implementation and cumulative, incremental development of its focused, positive asymmetric investment approach. Universa has thus created an innovative investment niche and risk management methodology within an increasingly homogeneous industry. Universa is currently registered with the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission.
Enterprise Florida, Inc. (EFI) is a partnership between Florida’s businesses and government leaders and is the principal economic development organization for the state of Florida. EFI facilitates job growth for Florida businesses through recruitment and retention, international trade and exporting, promotion of sporting events, and capital funding programs to assist small and minority businesses.
The Beacon Council Miami-Dade County’s official economic development partnership is a not-for-profit, public-private organization that focuses on job creation and economic growth by coordinating community-wide programs; promoting minority business and urban economic revitalization; providing assistance to local businesses in their expansion efforts; and marketing Greater Miami throughout the world.