Over the weekend, Partnership for NYC CEO Steven Fulop warned that Wall Street firms — the city’s cash cows — are increasingly eyeing the exits to escape Mamdani’s “tax the rich” crusade.
JPMorgan Chase chief Jamie Dimon sounded similar alarms, noting that New York’s steep taxes and red tape have sparked a “large exodus” of businesses out of the city.
Wall Street powerhouse Apollo Global Management’s plans to locate a second US headquarters outside NYC is the latest example.
Wall Street powerhouse Apollo Global Management’s plans to locate a second US headquarters outside NYC is the latest example.
And all this on top of a new Bureau of Labor Statistics employer survey that flags the loss of 20,000 Big Apple jobs in 2025, even though the state and city comptrollers had both expected an increase of 40,000.
Following the 2020 Census, New York lost one seat in the U.S. House of Representatives, bringing its delegation down from 27 to 26. Florida gained one seat, increasing its delegation to 28.
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