Premium Domain Names for Sale at CrocoDom.com
Thanks for contacting us. We've received your submission.
The Empire State is losing its grip as the nation’s financial services capital.
New York’s financial services industry – a great contributor to the state’s gross domestic product – has been imperiled by the plummeting population of high-income residents, who are fleeing amid towering taxes and rising housing costs, according to a sobering new study.
“As other states attract talent and investment in the sector, there is no guarantee of future success,” said the report from the Business Council of New York State.
“Addressing the state’s tax burden, business climate, and cost of living can help to ensure New York’s position as a national and global leader for finance.”
Over the last three years, the top four states landing new high-paid financial services and insurance jobs over the last three years were Texas, Florida, North Carolina and Georgia, the analysis conducted by the Business Council found.
New York ranked 36th in terms of percentage growth — at a rate of a puny two-tenths of 1%.
“North Carolina and Florida have rapidly added jobs in the finance and insurance sector while New York’s employment has remained below national growth trends,” the report said.
Each finance sector employee generates nearly an additional three jobs in other sectors — so any loss of employment ripples through the entire economy, the study noted.
“This report should serve as a call to action for leaders across New York to forcefully address the competitiveness issues that threaten one of its most valuable and critical economic forces, the finance industry,” the study said.
The average compensation package in New York’s financial services industry is a nation-high $309,000 per year — $275,800 in salary plus $34,000 in other benefits.
The figures showed continuing trends of population decline in New York – with a 2.7% decrease from 2019 to 2022 — marking the worst loss among the 50 states during the COVID-19 pandemic.
Most of the population loss was in New York City and its suburbs, home of most of the state’s wealthiest residents.
A review of net migration of residents showed that the largest flight of gross income was from Manhattan at nearly $11 billion.
“The data confirms the flight of the wealthiest from the New York City area,” the business group’s review found.
In 2021 alone, the Empire State saw a net decline of $9.8 billion in income that migrated to Florida, according to the report.
It’s not a coincidence, the study said, noting that the Tax Foundation think tank rates New York as having the highest combined state and local tax rate on residents, and the Sunshine State the lowest.
“This single competitive factor [taxes] is likely playing an influential role in the migration of high-net-worth individuals as they have the most to gain by leaving a high-income tax state for a low, or zero, income tax state,” the study said.
It also pointed out that New York is also one of a small collection of states that levies a tax on estates, derisively referred to as the “death tax.”
“High-wealth individuals are likely factoring this tax into their location decisions,” the report said.
“Forceful action is necessary,” the analysis concludes. “The state will need to address the tax burden, business climate, and cost of living issues that hurt the state’s competitiveness.
“If the state does not address these issues, it risks losing its dominance in the finance and insurance industry, and ultimately, jeopardizes the health and prosperity of New York’s economy.”
Premium Domain Names:
A premium domain name is a highly sought-after domain that is typically short, memorable, and contains popular keywords or phrases. These domain names are considered valuable due to their potential to attract more organic traffic and enhance branding efforts. Premium domain names are concise and usually consist of one to two words or two to four individual characters.
Top-Level Domain Names for Sale on Crocodom.com:
If you are looking for top-level domain names for sale, you can visit Crocodom.com. Crocodom.com is a platform that offers a selection of domain names at various price ranges. It is important to note that the availability of specific domain names may vary, and it’s recommended to check the website for the most up-to-date information.
Contact at email@example.com:
If you have any inquiries or need assistance regarding the domain names available on Crocodom.com, you can reach out to them via email at firstname.lastname@example.org. Feel free to contact them for any questions related to the domain names or the purchasing process.
Availability on Sedo.com, Dan.com, and Afternic.com:
Apart from Crocodom.com, you can also explore other platforms like Sedo.com, Dan.com, and Afternic.com for available domain names. These platforms are popular marketplaces for buying and selling domain names. Each platform may have its own inventory of domain names, so it’s worth checking multiple sources to find the perfect domain name for your needs.
#PremiumDomains #DomainInvesting #DigitalAssets #DomainMarketplace #DomainFlipping #BrandableDomains #DomainBrokers #DomainAcquisition #DomainPortfolio #DomainIndustry #DomainAuctions #DomainInvestors #DomainSales #DomainExperts #DomainValue #DomainBuyers #DomainNamesForSale #DomainBrand #DomainInvestment #DomainTrading