Florida Gov. Invites Hedge Fund Providence To Move

Feb 28 2013 | 10:55am ET

Florida's governor is taking advantage of the publicity surrounding an anecdote-heavy New York Post article about hedge funds moving to Florida to pitch such a move to a Rhode Island hedge fund.

Gov. Rick Scott wrote to Providence Investment Management CEO Russell Jeffrey, touting Florida's climate—both its weather and business climate, that is—and urging him to consider heading south. Scott said nothing about Rhode Island, exactly, instead focusing on his efforts to make "Florida the most business friendly state in the nation."

"As residents of New England long for spring to bring winter's cold grip to an end, people living in the Sunshine State continue to enjoy warm sunshine, strolls on the beach, and outdoor dining with ocean views," Scott extols. "The perfect vacation destination can (literally) become your backyard if you were to move your business to Florida."

It's unclear whether Jeffrey has responded to Scott's Feb. 1 letter. It's also unclear why Scott chose Jeffrey, although the Providence chief did give $100,000 to a Republican political action committee that targeted former Providence Mayor and current Rep. David Cicilline.

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