New York has the worst economic outlook of any state in the US, according to a recent ranking that comes as thousands flee the Big Apple amid escalating crime and chaos.
The American Legislative Exchange Council (ALEC) published its 13th annual Rich States, Poor States ranking on Wednesday. The researchers looked at issues such as taxation and the economic competitiveness of the state.
The economic outlook rating state gross domestic product, absolute domestic migration and non-farm payroll employment.
Utah, for the 13th year running, was top of the ranking and New York, for the sixth year in a row, was last.
The future of New York City, one of if not the largest city economy in America, is becoming decreasingly appetizing for the rich thanks to a series of decisions by officials.
Since March, Mayor Bill de Blasio has stripped the NYPD of $1billion and moved 13,000 homeless people into hotels around the city.
He has waved off wealthy New Yorkers who fled at the height of the pandemic to avoid getting COVID-19, and says they will be replaced, seemingly paying no heed to the gaping tax deficit they will leave if they pull their money permanently out of the city.
Gov. Andrew Cuomo, by contrast, is begging them to stay to keep the city afloat.
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Source: Daily Mail