According to recent Census data, 277 people move away from the New York metropolitan area every day. That is over 100,000 people a year. After seeing this data my first thought was, “Why isn’t it more?”
Don’t get me wrong, New York City has a lot to offer. It also has high real estate costs, high city taxes, high state taxes, and all sorts of costly regulations.
In the past, your business being in a large metropolitan area meant greater access to customers and clients. With technology and communications advances, that physical proximity is far less important than it once was. Workforces are more mobile. You can talk, text, share data, and even have video conferences with people from all over the world. So, is it still worthwhile for your business to physically be in NYC?
One reason given for being in certain areas is access to brains. I don’t mean that in any weird zombie way, but access to people with certain knowledge. For instance, where I live in NJ we have lots of companies in the telecommunication and pharmaceutical industries. They are here because AT&T and Johnson & Johnson were headquartered in the area so there are experienced workers in those industries.
Still, for most businesses geography is not as important as it was in the past. Will Leftist policy makers in big cities like NY continue to scare away businesses and citizens? And when people move to get away from the high cost of liberalism, will they vote any differently when they get to their new home?