[New York] Financial District Adapts as Banks Leave

[RedAkston]

http://www.nytimes.com/2011/02/05/nyregion/05downtown.html?_r=1&src=me&ref=nyregion

Next year, Fidelity Investments will move from Lower Manhattan to Jersey City.

Deloitte & Touche, the auditing and financial advisory firm, is also leaving the area, for Rockefeller Center, while a neighbor, the Japanese bank Nomura, appears headed to Midtown.

The loss of additional companies from the city’s historic financial district and the surrounding blocks has in the past led to hand-wringing by planners, politicians and landlords about the dubious future of Lower Manhattan.

I wonder how much the cost of running a business in NYC may have led to Fidelity leaving town. The taxes in NYC (and NY state for that matter) are outrageous. Having said that, there seems to be plenty of others "moving in" behind those leaving.