JPMorgan Chase CEO Jamie Dimon warned of an exodus of companies from New York as a result of climbing taxes and regulatory encumbrances, but emerging data suggests mass migration away from the metropolis has been greatly exaggerated.
In JPMorgan’s annual shareholder letter, Dimon wrote that “while New York City has much going for it,” it also has the highest corporate and income taxes, with the potential to scare off businesses and high-caliber talent as a result.
