Foot Locker Flees New York’s Crushing Taxes, Relocates Headquarters to Business-Friendly Florida
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Foot Locker announced on Wednesday its decision to relocate its corporate headquarters from New York City to St. Petersburg, Florida.
The sneaker retail giant cited the Empire State’s exorbitant tax burden and operational costs as primary factors in this strategic shift, according to the New York Post.
“To better support our strategic progress, increase team member collaboration, and maintain ongoing expense discipline, we made the decision to relocate our headquarters to St. Petersburg,” said CEO Mary Dillon in its second quarter financial results.
This relocation is just the latest in a series of high-profile exits from New York, as companies flee the state’s oppressive tax regime and increasingly hostile business environment.
