The comment links the idea of capital flight to politics. It echoes a broader view among some business leaders that taxes, regulation and cost of living are pushing investment and talent towards lower-cost and lower-tax cities, alongside corporate headquarters announcements.
Miami has spent several years courting Wall Street and venture capital. High-profile firms and investors have expanded their presence in South Florida, with supporters framing the city as an emerging “Wall Street South.”
Austin, meanwhile, has attracted corporate relocations and expansions, including moves by Oracle and Tesla. These moves have reinforced Central Texas’s position as a growing technology hub, according to Reuters.
