Responding to plans by New York City mayoral candidate Zohran Mamdani to raise corporate taxes and impose a new millionaire’s fee, Suffolk County Executive Ed Romaine is extending an open invitation to companies looking to leave the city, an offer that garnered national attention as people begin to assess what having a Socialist mayor would mean.
“If Mamdani wins and those corporations want to leave the city, they are welcome in Suffolk,” Romaine said. “We’re only about 60 miles to the east. We can offer tax breaks, payment-in-lieu-of-taxes, sales and mortgage tax forgiveness, and other incentives to bring them here.”
Romaine emphasized that Long Island has the space, workforce, and strategic location to absorb new industry. “This is the place they should come; we’ve got plenty of room,” he said, adding: “We have Brookhaven National Lab, Cold Spring Harbor research, and Stony Brook University. We are working with Washington to make Suffolk a national hub for artificial intelligence.”
Mamdani’s plan would raise the city’s corporate tax rate to 11.5 percent and add a 2 percent flat tax on residents earning more than $1 million annually. While the self-described Democrat Socialist estimates this could generate $5 billion in new revenue, critics warn it would also drive out high earners and major employers, similar to what’s happened in recent years as New York’s population has dramatically declined.
The invitation also comes amid long-standing frustrations over Progressive Democrat economic policies which have resulted in New Yorkers having to pay among the highest taxes and government fees in the nation. Rep. Alexandria Ocasio-Cortez, an early Mamdani backer, infamously opposed Amazon’s HQ2 project in Queens, which led to the tech giant pulling out and abandoning plans to bring an estimated 25,000 jobs to the city.
State Assemblyman Joe DeStefano echoed Romaine’s pitch, stating, “It’s far better to have New York corporations relocate to Long Island. That way, we keep the tax base and the jobs they create here in our state.” He noted that an erosion of the city’s tax base will affect all New Yorkers as taxpayers unable to flee will be forced to make up the difference. “Mamdani is a wake-up call,” DeStefano noted. “We just can’t afford the financial irresponsibility of the Democrats, especially those bordering on Communist like Mandani.”
With an eye on long-term growth, Suffolk officials are signaling they’re ready to welcome business, without the political restrictions or financial penalties increasingly seen in the five boroughs.