Fly south, Zo birds!
Boca Raton’s mayor is putting on a full-court press to woo New York businesses after democratic socialist Zohran Mamdani’s win the New York City mayoral election.
Republican Mayor Scott Singer said the beachy Florida location would be a better place to do business than the city as Mamdani is set to pursue a policy agenda that hinges on getting New York State government to raise corporate taxes and hike taxes on the rich.
“Dear New York Business Leaders, New York’s message to the financial sector couldn’t be clearer after Mamdani’s election: success is something to regulate, not celebrate,” Singer said in an appeal sent to Gotham CEOs and provided to The Post.
“In Boca Raton, we take a different view. Here, we believe that thriving businesses lift communities — not burden them.”
He cited 30% lower operating costs than Class A office in Manhattan and no state or local personal income taxes compared to upwards of 17% combined state-local rate potentially coming to New York City. He boasted that Boca has the lowest property tax rate of any major city in Florida, and a “strong and expanding talent pipeline in finance and professional services” with three local universities.
Mamdani plans to hike taxes includes potentially property increasing taxes on some wealthier, mostly white neighborhoods to fund his $9 billion in initiatives for free child care and buses and affordable housing expansion.
“That’s why more firms are choosing Boca Raton as their new headquarters. We have 40 publicly traded corporate HQs in a diverse group of industries, and a growing number of regional, satellite, and hybrid offices. Boca Raton offers what New York no longer can,” he said.
In the letter, Singer also said there are three international airports within an hour and a general aviation airport just minutes from the business district.
“The future of finance is moving south — along with other industries — and Boca Raton is eager to welcome you,” he said.
Boca has 50 publicly traded or private companies that have headquarters or major offices locally including: ADT, Regenerative Medical Technology Group, Office Depot, Aerospace Technologies Group, Canon and Tyco Integrated Security.
Singer and other Florida leaders have been pitching the Sunshine State after Mamdani won the Democratic primary in June, and have ratcheted up the relocation recruitment pitches after Mamdani’s general election victory last week.
Home buying has also spiked in Florida, as local residents move to close on sales in anticipation that New Yorkers will flood the market.
“People are concerned and looking for better business opportunities,” Singer told The Post of his outreach to relocate to his well-heeled city of 103,000 residents.
He said he fielded calls from retail business owners as well as executives from the financial services sector.
The letter also promoted the city’s 5 miles of public beaches, helping deliver “productivity in paradise.”
“Boca Raton has become the destination for firms that want to grow freely, attract top professionals, and live well while doing it,” Singer told the corporate honchos.
Mamdani, during his successful campaign that focused on New York’s high cost of living, claimed that lowering child care and transportation costs and expanding affordable housing will keep families in the city.
“The Mayor-elect’s affordability agenda will help working New Yorkers and help businesses alike — delivering universal childcare and allowing companies to attract and retain top talent from around the world,” spokesperson Dora Pekec said.
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