A wellness and cannabis company is relocating to South Florida, marking another example of the surge in businesses moving to the region.
Neptune Wellness Solutions, a publicly traded company based in Canada, will open its U.S. headquarters in Jupiter in June, according to its CEO, Michael Cammarata.
Cammarata, who grew up in Florida and lives in Jupiter’s Admirals Cove, is the co-founder and former CEO of Schmidt’s Naturals, which he sold to Unilever for an undisclosed amount in 2017.
Neptune is leasing more than 5,000 square feet at 1044 U.S. Highway 1 and will have about 20 employees when it opens the office later this year, he said. Neptune, a plant-based wellness company, specializes in health and wellness products derived from cannabis. Cammarata said the company is considering bringing a facility to Florida as well.
According to Cammarata, some employees already have started relocating from around the country. Some are buying boats that they will use to get to and from the office. The company decided to make the move in December, and is in talks with the state regarding incentives for doing so. Cammarata said Florida’s business friendly laws drew the company to South Florida.
A growing number of companies are relocating to Florida due to the tax benefits, especially in the financial services industry. Tech giants such as Microsoft and Spotify are also expanding in the Miami area.