And direct exposure to hurricanes for the parts that are not underwater!

Previous employer had an office in St. Pete's. Hurricane shutdowns are a non-zero cost.

That's why I find it surprising that Miami is even on the list at all. Most other cities immediately have an advantage over them because they don't have to contend with hurricanes and tropical storms on a regular basis.

Meh, the Dutch solved that problem hundreds of years ago.

The Dutch didn't have to worry about living over porous limestone that floods directly out of the ground (sea walls or not).

They also have a completely different mentality about the environment.