900 people a day are moving to Florida, many fleeing ‘tax hell’ in New York and New Jersey, the state’s CFO said

Florida and its governor Ron DeSantis
Florida’s population grew by 2.7 million over the last decade, and Gov. Ron DeSantis has heavily promoted the state as pro-business.

  • Around 900 people a day are moving to Florida, Jimmy Patronis, the state’s CFO, told Fox Business.
  • This is partly because of high taxes in states such as New York and New Jersey, he said.
  • He described those two states as “financial train wrecks.”
  • See more stories on Insider’s business page.

Around 900 people a day are moving to Florida, mainly because of high taxes in other states such as New York and New Jersey, Florida’s CFO Jimmy Patronis told Fox Business on Monday.

Migration to Florida had steadily risen over the past decade, before booming during the pandemic as remote working and the warm climate drew people to the Sunshine State.

Florida also has no personal-income tax. In comparison, New York unveiled proposals in April to bump up its income-tax rates for its wealthiest residents.

Patronis told Fox that states like New York and New Jersey were “financial train wrecks.”

Read more: IBM is hunting for a smaller NYC office now that 80% of its employees won’t come in every day. It’s a sign of the times.

“Let’s just talk about the empty nesters from New York, or the empty nesters from New Jersey,” Patronis said. “They then decide to leave the tax hell that those states are in and move to the state of Florida.”

He said that these people bring money into the state without increasing pressure on the school system.

“It provides more money to our schools, though they’re not using the services,” Patronis said.

“It’s a win-win,” he added.

Both people and businesses flocked to Florida during the pandemic

Florida’s population grew by 2.7 million, or 14.6%, between 2010 and 2020, according to US Census data. This is double the rate of overall US population growth.

As Patronis said, Florida is traditionally associated with retirees, but Troy McLellan, CEO of the Boca Raton Chamber, previously told Insider in May that more and more families and young high-flyers are moving to the area.

Florida has also remained largely open during the pandemic, relative to other states. This led to people choosing to make Florida their primary residence for the pandemic, Kelly Smallridge, CEO of the Business Development Board (BDB) of Palm Beach County, told Insider.

Companies have been opening offices in the state, too. Hedge fund Elliott Management is moving its headquarters to West Palm Beach, private-equity firm Blackstone plans to open an office in Miami, and Subway is shifting some business units to Miami.

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Ivanka Trump and Jared Kushner could be on the move – a College Hunks Hauling Junk truck was just spotted outside their Washington, DC mansion

jared and ivanka
Jared Kushner and Ivanka Trump walk on the south lawn of the White House on November 29, 2020.

  • A moving truck was spotted outside of Ivanka Trump and Jared Kushner’s Washington, DC mansion on Thursday.
  • The truck — a College Hunks Hauling Junk vehicle — could very well just be for trash disposal, but could also suggest that the couple is on the move.
  • The pair reportedly dropped $32 million on an empty lot on a high-security private island in Miami last month.
  • Known as Miami’s “Billionaire Bunker,” the tony private island Indian Creek boasts its own police force and a number of ultrawealthy residents, which may soon include the president’s daughter and son-in-law.
  • Visit Business Insider’s homepage for more stories.

Jared Kushner and Ivanka Trump have been living in a 7,000 square-foot mansion in the ritzy Kalorama neighborhood of Washington, DC since early 2017. The residence reportedly costs them $15,000 per month in rent and features modern finishes and sky-high ceilings.

Weeks before Joe Biden’s inauguration, they might be moving out of it.

Hunter Walker, a DC-based reporter for Yahoo News, posted a photo to Twitter on Thursday, showing what appears to be a moving truck outside the couple’s Kalorama home.

 

The vehicle in question, a bright orange truck emblazoned with the well-known College Hunks Hauling Junk brand, could very well just amount to the couple getting rid of unwanted items  – but could also signal that the couple is gearing up to leave DC following Wednesday’s insurrection.

Trump received extensive criticism for a tweet during the insurrection that appeared to refer to rioters as “American patriots,” which she quickly deleted.

Last month, Kushner and Trump reportedly dropped $32 million on an empty lot in Miami’s “Billionaire Bunker,” tony private island Indian Creek. The island boasts its own police force and a number of superstar residents – the couple bought the property from Julio Iglesias.

The couple would be the latest in a long list of those fleeing big cities for Florida amid the pandemic.

The list includes Kushner’s brother Joshua and his wife, supermodel Karlie Kloss, who reportedly bought a $23.5 million mansion nearby in August. Both properties are within an hour-and-a-half drive of “the winter White House,” Mar-a-Lago, where President Donald Trump is expected to decamp following the end of his term.

The White House didn’t immediately respond to a request for comment from Insider.

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The top 10 places Americans moved to at the height of the pandemic in 2020

moving to texas
Six of the 10 places on the list are located in Texas.

  • Millions of Americans have requested mail-forwarding services amid the coronavirus pandemic.
  • MyMove, analyzing US Postal Service data, found that Americans moving between February and July 2020 mostly fled urban cores for more suburban areas.
  • The country’s largest winner of residents was Texas. Six of the 10 places on this list are Lone Star State suburbs.
  • Visit Business Insider’s homepage for more stories.

The coronavirus pandemic upended American life this past spring and summer, driving millions to move in search of more comfortable work-from-home locales and greener pastures.

Analyzing US Postal Service data, MyMove found that almost 16 million Americans moved between February and July. Mail-forwarding requests to USPS made in that time frame show that moving Americans mostly fled urban cores and relocated to more suburban areas.

Some moves were short-term. Temporary change-of-address requests to the US Post Office were up 27%  in 2020 versus 2019. Permanent change-of-address requests were up 2% from last year. 

Requests from the height of the pandemic largely show that Americans were moving away from cities and toward less densely populated suburbs. New York City lost over 110,000 residents from February to July, according to USPS. Chicago, San Francisco, and Los Angeles lost thousands, too.

Texas, however, gained thousands of residents amid the pandemic.

Of the top 10 places that gained residents per USPS, six were located in Texas. All were suburbs of the state’s largest cities: Houston, Dallas, and Austin.

While it seems like everyone is moving to the Lone Star State, other locations in Florida and Idaho made the list, along with a tony Hamptons neighborhood in New York state.

Keep reading for a look at the most popular locales Americans decamped to this year:

10. Meridian, Idaho

Boise Idaho
Meridian is outside Boise, Idaho, pictured above.

Number of residents: 2,088

Population in 2019: 114,161

Metro area: Boise

Read more: The great migration of 2020: People from New York and California moved in droves this year — here are the states that benefited from the mass exodus, from Idaho to Texas

9. Riverview, Florida

Tampa Florida
Riverview is outside of Tampa, Florida, pictured above.

Number of residents gained: 2,093

Population in 2019: 91,190

Metro area: Tampa

Read more: Hedge funds tour Florida office space ‘one to three times a day’ amid ‘torrential’ interest from out of state, broker says

8. Cumming, Georgia

Atlanta Georgia skyline
Cumming is just outside Atlanta, Georgia, pictured above.

Number of residents gained: 2,128

Population in 2019: 6,547

Metro area: Atlanta

7. Cypress, Texas

Houston, Texas
Cypress is outside Houston, Texas, pictured above.

Number of residents gained: 2,147

Population in 2019: 82,257

Metro area: Houston

6. Leander, Texas

austin texas
Leander is just outside of Austin, Texas, pictured above.

Number of residents gained: 2,294

Population in 2019: 62,608

Metro area: Austin

5. Georgetown, Texas

Austin Texas
Georgetown is just north of outside of Austin, Texas, pictured above.

Number of residents gained: 2,337

Population in 2019: 79,604

Metro area: Austin

Read more: Elon Musk and other tech powerhouses are flocking to Texas, pushing an already bonkers real-estate market to new heights. Take a look inside Austin, which is quickly becoming the next Silicon Valley.

4. East Hampton, New York

east hampton
Women crossing the street in East Hampton, New York on September 8, 2020.

Number of residents gained: 2,476

Population in 2019: 12,960

Metro area: New York City

Read more: The Post Office says 300,000 New Yorkers have fled the city — for places like the Hamptons and even Honolulu

3. Frisco, Texas

frisco football field
The Dallas Cowboys practice in Frisco, Texas.

Number of residents gained: 2,604

Population in 2019: 200,490

Metro area: Dallas

Read more: Frisco, Texas, is one of America’s fastest-growing cities. Here’s why so many people are moving there 

2. Richmond, Texas

Houston Texas
Richmond is outside of Houston, Texas, pictured above.

Number of residents gained: 3,000

Population in 2019: 12,578

Metro area: Houston

1. Katy, Texas

Houston
Katy is just outside of Houston, pictured above.

Number of residents gained: 4,414

Population in 2019: 21,729

Metro area: Houston

Read more: Elon Musk, like everyone else, is moving to Texas. Here are 12 Lone Star State cities America is in love with.

 

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