New Hampshire Gov. Kelly Ayotte’s re-election campaign made headlines this week by launching a mobile advertising push in Midtown Manhattan, encouraging New York City business owners to consider relocating to the Granite State. The campaign follows the election of Zohran Mamdani, a democratic socialist, as the next mayor of New York City.
A mobile billboard truck drove through parts of Manhattan bearing rotating digital messages. The ads promoted New Hampshire as a tax-friendly and regulation-light alternative to the city. One of the slogans read, “NYC business owners: Mamdani got you down? Come on up to New Hampshire for no Communism, less red tape, and less taxes.”
In a statement, Ayotte said, “New Hampshire has a lot to offer anyone who is looking to leave NYC ahead of the Mamdani regime. We are the safest state in the nation, the best for economic opportunity, and we have some of the lowest taxes anywhere.”
Mamdani, elected on promises to fund social welfare programs such as free child care and fare-free city buses, has proposed a series of tax increases to support those initiatives. While his supporters view his policies as aimed at reducing inequality, critics argue the proposals could accelerate an already significant trend of residents and businesses moving out of New York.
According to U.S. Census Bureau data cited by the Office of the New York State Comptroller, the city’s population declined by 5.3% from April 2020 to July 2022. Real estate industry professionals say that more affluent residents and commercial entities increasingly cite rising taxes as a key concern.
Mitch Roschelle, managing director at Madison Ventures and a longtime real estate analyst, described the latest wave of departures differently from earlier ones. “During COVID, the first exodus was less about taxes and more about access to schools and normalcy,” he said. “The next exodus from NYC will be led by residents who do not want to fund the bevy of social welfare programs that lay ahead.”
Some southern and northeastern states have seen an uptick in real estate deals involving New York clients. Isaac Toledano, CEO of Miami-based BH Group, said his firm closed over $100 million in contracts with New York buyers in recent months, double the previous year’s total.
Mamdani, who is set to take office on January 1, 2026, campaigned openly as a democratic socialist, pointing to the need for stronger public services and more equitable city policies. His agenda drew national attention and sparked varying reactions among business leaders and political figures. Florida Gov. Ron DeSantis, for instance, cited Mamdani’s platform as a sign that New York could become less attractive for families and entrepreneurs.
Ayotte’s campaign clearly seeks to position New Hampshire as a destination for entities seeking fewer regulations and lower taxes. “We’ll help your business make the switch, and you can keep more of your hard-earned money,” read another message on the Manhattan van.
As Mamdani prepares to take office, the long-term effects of his policies on the city’s economy and population will likely become clearer. For now, the political response from regional leaders like Ayotte points to a growing competition among states to attract disaffected residents and businesses from New York.
