Governor of New Hampshire advises businesses leaving New York City to move North following Mamdani’s victory

New York Mayoral Election Aftermath

Recently, large vans displaying rotating digital ads roamed midtown Manhattan following Zoran Mamdani’s surprising win in the New York mayoral race.

New Hampshire’s Republican Governor, Kelly Ayotte, launched her re-election campaign with these vans that carried messages like, “New York City business owners, lost to Mamdani? Come to New Hampshire for an end to communism, less red tape, and lower taxes,” aiming to entice New Yorkers to move north.

“New Hampshire has a lot to offer for those looking to escape New York City ahead of the Mamdani administration,” Ayotte shared. “We’re the safest state in the nation, provide great economic opportunities, and boast some of the lowest taxes around. Whether you’re running a business or just wish to retain more of your hard-earned income, we welcome you to the Granite State!”

Mamdani, who has promised to increase taxes to support initiatives like free public transport and childcare, was elected as New York’s mayor last Tuesday.

Concerns Among Democrats

Ads on the vans included slogans like, “Come to New Hampshire,” stating, “We can help you switch your business so you can keep more of your hard-earned money.”

The newly elected mayor keeps his focus on implementing socialist policies in New York. His proposed tax increases are reportedly deterring potential newcomers to the city and pushing some residents to consider leaving altogether.

Kirsten Altas from Fox News Digital spoke to developer Isaac Toledano, the CEO of BH Group based in Miami. He noted that his company has completed over $100 million in transactions with buyers from New York recently—double the amount from the previous year.

Real Estate Trends Shift

“During COVID-19, many left for reasons beyond just taxes; it was more about access to schools and a desire for a more ‘normal’ life. Sure, taxes played a role, but they weren’t the sole factor,” said Mitch Rochelle, a real estate expert with Madison Ventures.

“Now, looking towards Mamdani’s era, those who’ve been contributing fairly are likely to be the next wave of leavers, particularly those reluctant to fund a growing number of social programs,” he added.

Data from the New York State Comptroller’s Office showed that New York City’s population shrank by 5.3% from April 2020 to July 2022, a drop that translates to more departures than the entire population of Long Beach, California.

“I believe the exodus may not be immediate and could depend on family demographics,” Rochelle suggested. “Spring may prove to be a significant indicator of this trend.” He also mentioned that shifts in public safety and increased taxes could intensify the movement out of the city.