$14B in income vanishes from NYC as 30K residents flee for Florida
Story by Chris Nesi • 20h
Tens of thousands of New York City residents have fled the Northeast for warmer climates in recent years — taking nearly $14 billion worth of income out of the Empire State, a new report found.
Around 30,000 Big Apple dwellers moved to Florida’s Palm Beach and Miami-Dade counties between 2017 and 2022, according to the report by the nonpartisan Citizens Budget Commission.
The city has seen a reduction in its adjusted gross income of $9.2 billion from relocations to those two counties alone, and a total of $13.8 billion when accounting for thousands more who moved to other parts of the Sunshine State.
A large number of those who left New York were high wage earners — nearly 20,000 of those who went to Palm Beach making a per-capita income of about $190,000 and about 26,000 of the ones who went to Miami-Dade raking in some $266,000 per year, according to Bloomberg.
https://www.msn.com/en-us/news/us/14b-in-income-vanishes-from-nyc-as-30k-residents-flee-for-florida/ar-AA1DZxGI?ocid=widgetonlockscreen&cvid=e3a6d1ed201141bf81bd7d43245224e8&ei=70