A juicy economic indicator, albeit anecdotal, on the Sunshine State comes courtesy of PricewaterhouseCoopers.
The global accounting and professional services giant, known as PwC, recently expanded its private company services practice statewide. The division will offer audit and assurance, tax and advisory services to private companies, their owners and high net-worth individuals.
Longtime PwC executive David Zimmerman, after stops in New York City and Boston for the firm, will run the private company services practice from Tampa.
Zimmerman, who worked for PwC in Tampa from 1999 to 2003, says opportunities are abundant. That includes five contracts PwC is working to sign with clients that Zimmerman says have come together in just the first month. The PwC unit has 60 partners and employees spread from Tampa to Jacksonville to Fort Lauderdale, and he expects that figure to double by 2018.
“We've been looking real hard at Florida,” Zimmerman tells Coffee Talk. “The last three years have been an explosion of business in Florida.”
Zimmerman says some of that stems from the state's pro-business environment combined with the economic rebound. An influx of businesses from South America and Europe are also part of the growth, he adds.
Target industries for PwC's private company services practice include manufacturing, consumer products, distribution and staffing. Most of the clients the firm will go after, says Zimmerman, have at least $200 million in annual sales.