Zohran Mamdani’s tax policies could be good for business — in Florida.
A top corporate trade group in the Sunshine State is trying to woo New York City CEOs uneasy about mayoral hopeful Zohran Mamdani’s democratic socialist policies.
The Florida Council of 100 penned an open letter to Big Apple business titans declaring “uncertainty is the enemy of sound decision-making” after Mamdani won a Democratic Party primary campaigning on hiking corporate taxes.
“When a city’s economic direction grows unpredictable, when the rules of engagement shift, and when free enterprise becomes a political target, CEOs must reevaluate where their companies can grow and prosper,” the council wrote in its letter.
“Today, New York’s future feels increasingly uncertain—an unacceptable risk for business leaders responsible for their businesses and the families that rely upon them. Florida offers a better path.”
One of the leaders of The Florida Council of 100 is Stephen Ross, chairman and CEO of Related Companies, which does business in both states.
The pitch comes after Boca Raton Mayor Scott Singer told The Post last week he’s in discussions with Big Apple CEOs about relocating after Mamdani’s win.
Mamdani has proposed $9 billion in tax hikes on millionaires and corporations to fund his plans for free city buses and child care, city-run grocery stores and housing expansion. But his recommended tax increases require approval from the legislature and Gov. Kathy Hochul, who has said she’s not in favor of the hikes.
Meanwhile, Palm Beach County officials have sent hundreds of relocation packets to executives in New York City and launched ad campaigns touting itself as “Wall Street South.”
“The Palm Beaches have arms wide open to welcome firms during these times,” a Palm Beach County rep said.
Signed by chairman George LeMieux, The Florida Council of 100 letter touts Florida’s pro-business environment and restrained government spending compared to the Empire State.
“Florida also delivers maximum value through fiscal responsibility,” the group said.
Florida supports more than 23 million residents with a $115.1 billion state budget, and more than $13 billion in reserves while New York’s budget clears $254 billion for fewer than 20 million residents.
Real gross domestic product is up 26.3% in Florida since 2019, the highest of any state and nearly double the national rate, the business council boasted.
More than 3 million new businesses have opened there since 2019, including more than 634,000 in 2024 alone.
Half of Florida CEOs plan to hire more employees in the next 6 months, nearly double corporate peers in other states while 45% expect to increase their capital investments, the group said.
“Florida’s message is simple: If you’re seeking certainty, partnership, safety, and growth—Florida is open for business,” the business leaders said.
“Come build where your company is welcomed, your talent is safe, and your future is limitless. Let’s start a conversation. The Florida Council of 100 stands ready to partner with you today.”
Read the full article here