Ark Investment Management, which is led by Cathie Wood, says it is closing its New York office this month and moving its headquarters to St. Petersburg, Florida, where it will welcome staff on Nov. 1.

As part of the move, the company is planning to break ground on the Ark Innovation Center in the first quarter of 2022. The goal of the new facility, set to open in July 2023, is to bring “top talent” to the Tampa Bay area through support for entrepreneurs and tech startups.