On Tuesday, New York Congressman Lee Zeldin retweeted a statement from Will Barclay that read “Hello, Houston? We have a problem here.” The tweet was in reference to the alarming statistic that 27% of New Yorkers plan to leave the state in the next 5 years. This equates to over 5 million people who are looking to relocate elsewhere.
The reasons for this mass exodus vary. Some cite high taxes and cost of living, while others point to political unrest and a lack of job opportunities. It’s worth noting that this isn’t an entirely new phenomenon – for decades, New Yorkers have been relocating to other states with lower costs of living and more job opportunities.
However, recent years have seen an uptick in the number of people leaving the state. In fact, according to data from the U.S. Census Bureau, between July 2018 and July 2019 alone, New York saw a net loss of over 76,000 residents due to migration.
This trend is particularly concerning because it could have serious implications for New York’s economy. As more people leave the state, there will be fewer taxpayers contributing to state revenue – which could lead to further tax hikes on those who remain.
Additionally, many businesses may choose to relocate along with their employees if they feel that New York is no longer a viable place for them to operate. This would mean fewer jobs for those who stay behind and potentially devastating economic consequences for local communities.
It’s also worth noting that this trend isn’t limited only to individuals or businesses leaving the state altogether – many are simply relocating within New York but outside of major metropolitan areas like New York City or Buffalo.
One potential solution being proposed by some politicians is reducing taxes or creating other incentives aimed at keeping residents and businesses in-state. However, opinions on how best to address this issue vary widely among lawmakers.
Regardless of what steps are taken (if any), it’s clear that New York is facing a serious problem with residents leaving the state in droves. If this trend continues, it could have far-reaching consequences for the state’s economy and population – and may require significant action to reverse course.