Cathie Wood Says St. Petersburg Wants to Be the ‘Next Austin’

ARK Investment Management’s Cathie Wood is betting that St. Petersburg, Florida, can become the next buzzy destination for technology firms.

Woods touted the low cost of living in the Sunshine State, which has no income tax, and pushed back on the notion that it’s just a place for retirees.

Cathie Wood

Photographer: Alex Flynn/Bloomberg

“We believe that St. Pete wants to become the next Austin and attract tech companies, attract innovation,” Wood said on ARK’s monthly webinar Tuesday. “Many people think of Florida and St. Pete as a retirement home and it’s anything but that.”

ARK announced last week that it will close its ...