A tax policy group said the exodus of workers – and billions of dollars of personal income – from New York is continuing as many are drawn to more tax-friendly states.
Between 2000 and 2010, New York lost $45.6 billion in personal income, the largest amount of any state, according to the Tax Foundation. While workers leave, the state’s population is also getting older and leaving the workforce. Personal income is a key economic indicator as it measures how much money residents make – and potentially spend – in the state economy.
Other states also lost big:
#2 California lost $29.4 billion
#3 Illinois lost $20.4 billion
#4 New Jersey lost $15.7 billion
#5 Ohio lost $15.7 billion
On the flipside, several states are growing rapidly in population and personal income.
Florida gained the most personal income between 2000 and 2010 with $67.3 billion. Arizona was second with $17.7 billion.
#3 Texas gained $17.6 billion
#4 North Carolina gained $16.2 billion
#5 Nevada gained $11.2 billion