Why Hundreds of Thousands of New Yorkers Fled the State in 2015

Date: January 05, 2016 Last Edit: January 07, 2016

More than 653,071 people left the Empire State from 2014 to 2015. Here’s what it means to your small business.

Taxpayers are fleeing New York, according to a new report from the Empire Center.

From July of 2014 to July of 2015, 153,921 more people left the state than relocated to it, according to an Empire analysis. What’s more, that figure bring the state’s “net domestic migration” loss since 2010 to 653,071 people—“the largest such decrease of any state, both in absolute terms and as a percentage of estimated population. as of the start of the decade,” according to the center.

The center described the migration loss as “another year, another big loss of New Yorkers to other states.”

For more on the report, click here.

Additional end-of-the-year reports indicate that there may be a connection between New York’s taxpayer exodus and its climate for small business owners.

The state also recently ranked in the bottom 10 of The 50-State Index of Small Business Regulation. Meanwhile, it ranked No. 49 in the non-partisan Tax Foundation’s 2016 State Business Tax Climate Index.

Related Content: Small Business News | Economy | New York

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