Leaving NYC, Big Red Car, who’s leaving New York now? Financial enterprises.
Big Red Car here in the slightly gray ATX – still, On Earth as it is in Texas, y’all!
A recent announcement that NYC headquartered AllianceBernstein Holding LLC was moving its headquarters and 1,000 jobs to Nashville caught my attention.
It is a phenomenon which is playing out right here in Austin and Texas, in general. Firms and individuals are leaving California, Chicago, and NYC to relocate to Texas and its pro-business, nice weather, no taxes environment.
Nashville has some of that Southern mojo working in its favor, but this is all about money – real estate, taxes (state and city), employment expense, and flight from an ever increasing burden.
It is about the money, y’all.