Associating Flash characters with their Divine Comedy counterparts leads not to only direct replacements but also reinterpret the latter. Having Iris West be Beatrice and werewolf Caitlin Snow as the she-wolf has weird implications that Flash writers (and Dante himself) never intended. Or rather Dante’s commentators never intending and understanding the context any further.
On a larger scale, Central City could substitute for Florence. Florence at some point or another was one of the major trading and banking hubs in the world. It was in this environment that the Medicis came from. Coincidentally speaking, not only were Dante’s relatives usurers but also Dante himself went into the same guild some of the earlier Medicis went into (the one for doctors or medici in Italian).
The Flash has scientists and a doctor so it shouldn’t be much of a stretch. Florence and Tuscany in general are in Central Italy. Central City’s commonly thought to be in Midwestern/North Central (United States of) America. On a funny note, there was a United Provinces of Central Italy at some point or another. And that there were Italians and people of Italian descent working on the Flash so.