[Tiktaalik]

> “Everyone points to Miami as the next tech hub because it offers low taxes. But it offers little else from a tech point of view,” Mike Volpi, a partner with the venture capital firm Index Ventures, said on a recent visit to Toronto.

This article doesn't mention political differences and other intangibles but it should.

There are plenty of places like Miami with low taxes, and Toronto would be making a mistake in taking part in a race to the bottom. It's more effective for Toronto to differentiate itself by other jurisdictions by fundamentally offering different things and being a place that people want to move to because it isn't like the other places.