Wall Street Flees NY for Tax-Free Florida
From the New York Post today (Jan 28 2013):
“An increasing number of financial firms, especially private equity and hedge funds, are fed up with New York’s sky-high city and state tax rates and are relocating to the business-friendly climate in Florida… Florida is a state of choice,” said Thalius Hecksher, global development chief for Apex Fund Services… It’s organically grown. There’s no need to drag people down here. It’s a zero-income-tax jurisdiction.” There are other perks, too — like the fact that it was 77 degrees and sunny there yesterday. “You weigh all of the benefits for being here to those in New York, and they outweigh them every time,” said Evan Rapoport, CEO of HedgeCo.net.”
We say come on down! The water is warm, the sun shines every day, and Southwest Florida is open for business.