From 2000 to 2010, NY led all losing states with $45.6B in personal income out-migration. Calif. was second losing $29.4B. FL was the biggest winner gaining $67.3B, followed by AZ’s $17.7B and Texas.
Palm Coast, FL – February 28, 2014 – A report from the Washington DC-based nonprofit and non partisan Tax Foundation reveals the extent to which people moving from state to state take personal income across the borders with them. Based on IRS data, the Foundation reports that New York suffered the greatest loss in personal income losing $45.6 billion between 2000 and 2010. New York was followed by California, which lost $29.4 billion and Illinois, which was down $20.4 billion.
Florida led all states by gaining $67.3 billion, followed by second place Arizona which gained $17.7 billion and Texas, which gained $17.6 billion. Note how the following Migration of Personal Income map looks so much like recent weather maps.