$14B in income vanished from NYC when 30K residents fled to Florida

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…

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