The Florida Chamber of Commerce has launched a digital billboard campaign in Times Square, New York City, thanking Mayor Zohran Mamdani for what it describes as the migration of jobs, companies, and residents from New York to Florida. The billboard, located at Broadway and West 43rd Street, declares Mamdani as Florida's "Economic Developer of the Year" with the message "Thanks for the jobs!"
Florida Chamber CEO Mark Wilson stated that the campaign aims to acknowledge the movement of people and businesses from New York, attributing it to policies he characterizes as "socialist" and in contrast to Florida's economic model. Wilson suggested that other states, including Chicago, California, and Minneapolis, are also experiencing similar population shifts.
Recent years have seen a notable increase in New Yorkers moving to Florida, a trend that experts predict may accelerate following Mamdani's inauguration in January. The New York Post reported that Mamdani's "pied-à-terre tax" has influenced business leaders to solidify development plans in Florida. Inquiries about multi-million-dollar properties in South Beach reportedly surged after his election.
IRS migration data for 2022-2023 indicates that New York experienced a net loss of 21,176 tax returns to Florida. The Florida Chamber estimates this influx translates to a gain of approximately $2.4 million in net taxable income per hour for Florida, while New York loses about $1.1 million per hour. Wilson suggested that tax increases in New York further encourage residents to leave.
The Chamber advocates for Florida's lower-tax, less-regulated approach as a draw for businesses and individuals from higher-tax states. Wilson noted that Florida has lowered taxes more than 50 times in the last 15 years, leading to record revenues due to economic growth.
City Hall officials pushed back against the claims, citing job growth, investment, and a strengthening office market as evidence of New York City's economic vitality under Mayor Mamdani. A spokesperson for the mayor stated that the city has added over 21,700 jobs in the past six months, with employment in finance and insurance sectors growing by 1.9%. The Manhattan office market is reportedly on track for its strongest year since 2000, and New York City-based companies have raised more than $21 billion in venture capital this year, a 102% increase from the previous year.