New Jersey and Connecticut poaching NYC (already?)

20 Nov

Chris Christie

Across the NY Post and CBS, news websites — our two neighboring states of NJ and Connecticut seem to be salivating. Preparing

They’re set on capitalizing on NYC’s electing a new Mayor that seems less “business friendly” (as per his disdain for keeping 2,000 jobs from moving to NJ, considering his rhetoric regarding Fresh Direct being kept in the Bronx by Mayor Bloomberg). The ‘progressive’ talk of taxing the rich and the mass-appeal of free “universal pre-school” paid for by increasing taxes — has alerted New Yorkers that new taxes of all sorts may be just on the horizon?

Clearly, the offices of our neighboring Mayors and Governors in CT and NJ were watching. However, here… after a day of this from Chris Christie and a week of TV commercials by CT’s Governor — there’s NO RESPONSE prepared in defense (or offense) from either Mario Cuomo, Mayor Bloomberg, nor Mayor-Elect Bill DeBlasio. We may be seeing a renewed war on NYC businesses, whether NYC wants to fight or not.

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New York Post:

“You see taxes being increased there,” Christie said. “You have a new mayor in New York who is aggressively talking about increasing taxes in New York City. While I feel badly for New Yorkers, come to New Jersey.

Christie is not the only politician encouraging New Yorkers to move out of state.

Tom Foley, the GOP candidate for governor in Connecticut, released ads this week encouraging New Yorkers to move to Connecticut.

“Enjoy one more year in your city and then come join us in Connecticut,” Foley says in a TV spot.

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New Jersey and Connecticut have grown rich on the back of the economic engine that’s New York City — and built overall per capita income to the USA’s highest levels. Because essentially, they are mainland suburbs of NYC. For the most part they have drawn NYC businesses away by promising more space, less taxes and easier transportation costs (for goods and workers). There’s less “crime” and “better schools” — a euphemism that speaks to people seeking homogenous neighborhoods and towns. When COOs and CEOs and Owners move, they bring their offices/business with them — so that they need not ride in cars stuck in traffic (especially over bridges/tunnels) and in commuter trains. For 20-25 years, NJ has also targeted Seniors and retirees to “over 55 communities” — many sell homes, build a bank account and spend on goods/services in the NJ economy. NYC of late, mostly seems to focus on the young, new professional (bike lanes, Silicon Alley business incubators, etc.) and seems not to discourage turn-over (which means Real Estate revenues/taxes raised).

(Last time this effort was reported in the media — was directly after 9-11 attacks when they urged businesses to install back-office and digital files away from the ‘danger’ of NYC terrorist attacks). No matter how it feels from NYC’s perspective, it happens. Wealth leaves. Wall St. back-office and trading firms have jumped across the Hudson River. Look at how Jersey City has grown a SKYLINE since 9-11-2001.

Let’s hope its not a mass migration — and that the Mayor-Elect has some answers.

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