Companies are shifting employees
We will add far more jobs in Miami over the next decade as an immediate and direct consequence of the mayor’s poor decision here with respect to posting that video,” Ken Griffin told CNBC last week.
It’s resulted in at least one company, the hedge fund Citadel, to say it will be expanding elsewhere.
For weeks, since the mayor took office, critics have charged that the wealthy and elite will take their business to friendlier climates.
“The tax environment and the rhetoric are very concerning, and those do push people to look elsewhere,” said Steven Fulop of the Partnership for New York City.
JPMorgan Chase, while still headquartered here, now employs more people in Texas than in New York City. Reports say private equity firm Apollo Global Management will open a second headquarters in the south.
“It takes a lot to push these people out, that’s the truth,” Fulop said. “But there is a tripwire at some point. And I think we are getting closer to a place where people say, ‘Is it worth me investing here when other people want me to be there more?’”