Nearly three and a half million residents fled New York over the past 10 years, the biggest migration exodus of any state in the nation.
CNS News reported:
New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.
Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.
Over that same time period, 208,794 Pennsylvanians moved to Florida, taking $8 billion in income.
“Many of these New York and Pennsylvania residents no doubt moved to Florida for the warm weather,” says the foundation, a nonpartisan research group. “[B]ut many more may have moved there because the state does not have an individual income tax, an estate tax, nor an inheritance tax.”
Meanwhile, a stunning report by the Illinois Policy Institute revealed that Illinois lost one resident every 10 minutes during the past fifteen years. Between 1995 and 2009, the state lost on a net basis more than 806,000 people to out-migration. As Illinois lost residents to migration the state also lost out on a net of $26 billion in taxable income to out-migration from 1995 to 2010.