Assemblywoman Jodi Giglio (R,C-Riverhead) today questioned New York City Mayor Zohran Mamdani during the Legislature’s Local Government budget hearing, expressing concern about businesses relocating out of New York and the impact on jobs and the state economy.

Giglio cited ongoing economic migration trends and asked what steps city leadership plans to take to retain employers and workers.

“New York state has lost companies and high-earning residents since 2022,” Giglio said. “Major financial institutions, including JPMorgan Chase, Wells Fargo, Goldman Sachs and Charles Schwab, have expanded operations outside New York and relocated over 20,000 employees to other states. I would like to know how Mayor Mamdani and his administration plan to address corporate outmigration and keep jobs here in our state.”

Giglio emphasized the need for policies that improve affordability and competitiveness in order to retain employers, strengthen local economies and protect tax revenue that supports essential services.