Many experts predict a massive exodus of New York City businesses from the city following Zohran Mamdani’s mayoral victory on Tuesday. Tennessee governor Bill Lee is wasting no time, extending an invitation for those companies to move to Tennessee.
In a video posted Tuesday on X, Lee said Tennessee is “open for business” as he promoted the state’s strong economy, low taxes, and limited government regulation.
“If you’re a New York business owner who doesn’t like the direction your city is headed, we have a message for you: Tennessee is open for business,” Lee said in his post. “Government won’t get in your way.”
Lee’s message came a day after Mamdani, a self-described democratic socialist and state assemblyman, was elected as New York City’s first Muslim and first South Asian mayor. Mamdani defeated former Gov. Andrew Cuomo, who ran as an independent, and Republican candidate Curtis Sliwa.
Mamdani, 34, ran on a progressive platform that included free public bus service, government-run grocery stores, rent freezes, and expanded childcare, proposals that he said would be funded through higher taxes on wealthy residents and corporations.
Ahead of the election, some New York residents expressed concern about potential tax increases and the economic impacts of a Mamdani administration. Florida real estate developers reported an increase in New York buyers purchasing property in recent months, citing uncertainty about the city’s political and financial future.
Lee’s video did not mention Mamdani by name, but noted the city’s “recent election results.”
Lee mentions in the video that Tennessee is one of the nation’s most “moved-to” states for businesses and families. The governor also mentioned his support of local law enforcement safety.
Several of New York’s largest financial firms have already been making moves to depart the state. Many are focused on Dallas, Texas. As Texas aims to become Y’all Street, can Tennessee get a share of the expanding big business moves?
Governor Lee certainly hopes so.
Steve Gill is editor and publisher of TriStar Daily.
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