From Fox News: Boca Raton’s Republican mayor, Scott Singer, told Fox News Digital that if socialist Zohran Mamdani wins the New York City mayor’s race next month, Florida could see a fresh wave of relocated businesses.
“The threat of people leaving high tax, high crime jurisdictions like New York and other places is real,” Singer told Fox News Digital.
“It’s been happening for years, and Boca Raton has been the beneficiary of a lot of businesses bringing their corporate headquarters and high-paying jobs here. I think the threat is even more real. People are already preparing to leave before a Mamdani election and if the polls hold as they expect in the next few weeks, we’re going to see a lot more people looking to bring their businesses here and create jobs in Boca Raton.”
Mamdani’s socialist economic policies, along with his adoption of communist talking points like “seizing the means of production” and abolishing private property, have been a major focus for his critics who have warned his victory would negatively affect businesses in New York City, the financial capital of the world.
“It’s hard to predict how bad the economic situation is going to be, but Mamdani doubled down at last week’s debate and said it’s about time we raised taxes, and he was grateful for it,” Singer said. “When he’s proposing a 17% marginal tax rate for New York City residents between state and local taxes, that’s 17% that they can simply give up by moving here and with jobs more mobile because of technology and with companies finding great office space here, there’s less and less reason for people to stay there.”
Warning of the longterm consequences for New York City, Singer predicted, “I think one year out, you’re going to see a substantial exodus of companies that are able to move. Two years out, we’re going to see depressed values, more unemployment, higher crime. And four years out? We don’t know. I think at that point, they’ll be ready for a new mayor if what we expect to happen in November happens.”
Singer noted that Florida has no state income tax, and Boca Raton has the lowest property tax rate of any full-service city in Florida. That combination has already prompted many New York companies to reach out inquiring about moving there, he said.
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