Andrew Cuomo is good for business but only if you are talking about Florida business.
Under his watch, the state has been bleeding residents but now they are bleeding businesses. Those businesses are overwhelmingly moving to Florida, a state with no income tax, good weather and a great governor.
The constant lockdowns in the state have destroyed small businesses but even larger businesses are calling Florida home.
In particular, large stock trading companies are moving to the Miami area in droves.
New York is exploring a new tax on stock transactions and brokerage houses are finding the sunny climate and low taxes to be to their benefit.
I would not be surprised to see the stock exchanges moving away from the Empire state and into the Sunshine State.
Large restaurants are finding the friendly climate in Florida to be to their liking as well.
Not only that but the employees at the New York restaurants are wanting to get jobs in Florida as they see a much lower cost of living and no oppressive taxes as they have in New York. A move to Florida, although expensive makes a lot of sense to many of them.
They can make up their moving costs in just one or two years and the rest is gravy. Add to that the much warmer climate and it is a win/win situation for them.
According to the New York Post:
“Two weeks ago, when the thermometer plunged below 20 and indoor dining was still off-limits in the city, intrepid New Yorkers continued to cling to vestiges of their social lives. But just a short flight away — in tony Palm Beach, Fla., where La Goulue recently opened an outpost that’s a mirror image of its Manhattan mother ship — all inside tables and seats at the bar are full. Patrons are laughing and living it up, seemingly oblivious to the perils of fraternizing during a pandemic.”
In fact, the Post notes, dozens of New York City restaurants have suddenly opened Palm Beach outposts, “escaping” the icy weather and severe COVID-19 restrictions, following the New York City residents who left the city in droves during the height of the pandemic — and the ensuing economic downturn.
“[Palm Beach] is really working with you, not trying to put wood in your wheels,’’ one restaurant owner told the Post, adding that, in New York City, dining has just opened to 25% capacity. “I have seen so many friends of mine, I can’t believe it. And all our New York staff is asking to come work here.’’
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Author: Steven Ahle
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