Companies Leaving NYC 11-3-25

Several large companies, particularly in the finance and tech sectors, have moved or are moving operations out of NYC, primarily to states like Texas and Florida, driven by factors like lower taxes, cost of living, and business-friendly environments. 

Notable examples include Icahn Capital Management, ARK Investment Management, and AllianceBernstein (to Florida) and Goldman Sachs (relocating some managers to Dallas and Salt Lake City). Additionally, Hewlett Packard Enterprise moved its headquarters to Texas, and some e-commerce logistics are shifting to other states.

Finance

Icahn Enterprises: Relocated its operations to Florida.

ARK Investment Management: Moved its headquarters to St. Petersburg, Florida.

AllianceBernstein: Relocated its headquarters to Florida.

Citadel: Moved both Citadel and Citadel Securities to Miami.

Goldman Sachs: Is moving some managers to Dallas and Salt Lake City.

JPMorgan Chase: Now has more employees in Texas than in New York City. 

Technology and other sectors

Hewlett Packard Enterprise: Moved its corporate headquarters to Texas.

Oracle: Moved its headquarters to Austin, Texas.

eBay: Is closing its TCGplayer facility in Syracuse, New York, and moving the operations to a logistics company in Louisville, Kentucky.

Foot Locker: Is establishing a new corporate headquarters in St. Petersburg, Florida. 

K Investment Management: Led by "stock picker" Cathie Wood, this investment management firm also moved to Florida in 2021. 

Tech and e-commerce

Meta: As part of broader cost-cutting measures, Meta announced in late 2022 that it was exiting some of its newer, expensive New York City office spaces.

TCGplayer: The e-commerce platform for trading card games announced in May 2025 that it was moving its operations out of New York state and laying off hundreds of workers. 

Retail

Big Lots: In January 2025, the company announced it was putting hundreds of leases up for sale nationwide, including all 49 of its New York locations.

Rite Aid: After filing for bankruptcy, the drugstore chain is closing all of its stores nationwide, including its New York locations.

At Home: In June 2025, the home decor retailer filed for bankruptcy and announced the closure of 26 underperforming stores, with two in New York. 

Factors driving company moves

Several factors are contributing to this trend:

High taxes: New York's high tax rates on corporations and high-earning individuals are a major driver for companies to move to states with more favorable tax policies.

Cost of living and operations: Expensive real estate and high operating costs in New York make other cities more attractive for businesses looking to save on expenses.

Remote work trends: The pandemic accelerated the trend of remote and hybrid work, reducing the need for expensive physical office space in NYC. Companies can now set up talent pipelines in other, less costly locations.

Political climate: Some business leaders have expressed concern over the city's political direction. For instance, in June 2025, some business figures reacted strongly to a New York politician's proposal for new taxes on the wealthy. 

https://www.google.com/search?q=what+large+companies+are+planning+to+move+out+of+nyc

Norb Leahy, Dunwoody GA Tea Party Leader