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NYC Wins Migration Competition for High-Value Talent
Headline-grabbing population statistics to the contrary, New York is decisively winning the nation’s migration competition for high-value talent, JLL says. Although broad migration data may suggest the city is losing residents overall, the workers that matter most to financial, tech, and innovation-driven firms choose New York in overwhelming numbers.
“The numbers turn the Wall Street South narrative on its head,” said Kevin Kelly, vice chairman at JLL. “Corporate location decisions increasingly hinge on access to specialized labor, and while Florida may be winning broad population measures, New York continues to dominate the high-value talent segment that sustains its financial and tech ecosystem.”
Across the five largest exchange states—California, Florida, Massachusetts, Texas and Illinois—the broad population numbers appear familiar. Florida attracts 53% of all movers between New York and Florida. However, when the data are filtered to profiles most sought by office-using industries, New York reverses the trend.
- ◦People
- ◦Economy
