Florida CFO Jeff Atwater is pushing back against Gov. Andrew Cuomos, D-N.Y., effort to lure businesses based in the Sunshine State to New York.
Back in October, Cuomo unveiled Start-Up NY, a program to grow and lure businesses to the Empire State by creating tax-free zones and working with the State University of New York (SUNY) system and other colleges and universities based there.
Hundreds of business leaders and CEOs from around the globe have come together for the official launch of Start-Up NY to take advantage of the most ambitious economic development program in New York States recent history, Cuomo said when the program was launched. In a tax-free environment, no one can match what New York has to offer. Businesses that are looking to start up or expand, and most importantly create jobs, should look no further. We are leveraging our world-class SUNY system and prestigious private universities to partner with new businesses, providing direct access to advanced research, development resources, experts in high-tech and other industries and all with zero taxes for 10 whole years. With an opportunity like that, it's no wonder that companies are lining up for the launch of Start-Up NY.
With New York running ads in Florida and other states as part of a $113 million media campaign, Atwater pushed back in a letter sent to Cuomo on Friday and called him a huckster in an article published Monday in the New York Post. Atwater accused Cuomo of fudging the facts about New Yorks business climate.
The reality is that New York boasts the highest taxes in America, the highest cost of living in the country, and one of the worst business climates in the nation, Atwater wrote Cuomo. Conversely, by every objective measure, Florida continues to be one of the best states in which to start a business and raise a family.
Atwater pointed out to Cuomo that studies on taxes and business climates found Florida ranking as one of the best states in the nation while New York lags far behind in many of the surveys. Noting that Florida did not have a personal income tax, Atwater showed New Yorks state personal income tax rate stood at 9 percent.
Matt Wing, a spokesman for Cuomo, fired back in his comments to the New York Post
For a CFO, he must be pretty bad at math if he doesnt understand that the zero in StartUps zero-tax zones means no state taxes for new businesses, said Wing, ignoring Atwaters point about personal income taxes.
Cuomo has been mentioned as a possible contender for the Democratic presidential nomination in 2016 if fellow New York Democrat former U.S. Secretary of State Hillary Clinton doesnt run.
Reach Kevin Derby at kderby@sunshinestatenews.com.
