States just got another arena in which to compete against one another to attract business. And big business just got another powerful reason to move out of New York and New Jersey. Combine high personal taxes, high corporate taxes, generally onerous and complex regulations (which lawyers who bill by the hour love), unfavorable legal precedent, unsympathetic or outright hostile judges and equally unsympathetic or outright hostile juries, and you have a potentially toxic "perfect storm" for driving big corporations out of the New York metropolitan area. Now, businesses won't just move their "back offices" out of these states; they can be counted on to move their entire upper management out as well. After all, Delaware is only 110 miles away.
Eric Dixon is an attorney in New York and New Jersey, concentrating in litigation, investigative matters, and strategic analysis. He comments regularly on legal, economic and political matters.