By: Hellen Zaboulani

At the start of the pandemic, well-to-do New Yorkers began their exodus from the Big Apple heading for the rolling hills and fresh air to escape the crowded city, which quickly became the virus’s epicenter.   Rising crime, spiked unemployment and other factors have kept them away, even for those who expected to be back by the end of the summer.  For the city, those wealthy New Yorkers represent a big chunk of the income taxes it receives and depends on to keep afloat.  In fact, the top 1 percent of earners, account for close to half of all NYC’s income taxes.

Numerous experts and business leaders have voiced their alarm over the exit of NYC’s elite, and the fate NYC may face if they don’t return.  “It’s a big concern that we’re going to lose more of our tax base then we’ve already lost,” said Kathy Wylde, president of the Partnership for NYC. The Mayor, however, seems to remain unfazed.  As reported by the NY Post, on Monday during a virtual City Hall press briefing, a reporter questioned Mayor Bill de Blasio about how he hopes to bring back NYC’s billionaires.

“I don’t understand honestly how any New Yorkers can participate in the discussion about these fears about the future of New York City,” de Blasio said. “I don’t mind having fear I don’t mind having questions, but if you don’t think New York City is not coming back then you don’t know New York City.”

“Some people may decide they want to go somewhere else for a period of time and as the situation in New York City improves. They’ll come back. Some people may not and I guarantee you they’ll be replaced by others who will bring a lot of creativity and talent,” he added.  “If folks miss the theater, if they miss the indoor dining, those things will be back. They’ll be back next year at some point,” he said.

During the press briefing, the mayor did not spend much time outlining a timetable for the re-opening of such venues as indoor entertainment or dining.  He said rather that his primary focus now remains opening schools on September 10.

“I think when we get into the fall that’s exactly the time to really talk about the future of the city, the bigger vision for our economy and our people…and what everyone needs to do to bring the city back,” said de Blasio.