Each year, tens of thousands of residents are leaving New York. Even as a state that takes in so many immigrants and newcomers from across the U.S., New York has the unfortunate designation of leading the nation in out-migration. Over 1,379,210 residents have left our state in the last decade, and a net migration of -180,649 in 2019 alone. They aren't just leaving because of the weather. They are searching for job opportunities, and a more affordable lifestyle than New York has to offer.
One major reason for this drastic net out-migration is New York State's notoriously dreadful business climate. New York continues to rank near last in business friendliness. The businesses that are here and have been in our communities for decades, especially in Upstate and Western New York, can't survive.
In recent years, New York has made a habit of picking winners and losers through tax incentives and government funding, but unfortunately, it has not worked. New York shells out tax dollars on everything from the Buffalo Billions to $420 million each year to elite Hollywood film studios. We should be focused on loosening burdensome regulations and cutting taxes for the local small businesses that employ the majority of our community's workforce. Passing legislation that makes it easier, not harder, for entrepreneurs to start up and grow their local small businesses is vital.
Legislation like the red-tape reduction act will help ensure that no more burdensome regulations are placed on our business owners. An expanded tax credit for small businesses and farms will help our local businesses and farms are able to attract and grow their workforce. Developing broadband will deliver a 21st-century necessity to a struggling economy.
Small business is the economic engine of our state, and creating an environment where small businesses can flourish will keep residents from fleeing for job opportunities elsewhere.