FIRST ON FOX: In the heart of Manhattan, at the corner of Broadway and West 43rd Street, a massive new billboard is sending a provocative message to New York leadership: “Thanks for the jobs!”

As America faces what business leaders call a historic choice between free enterprise and expanding government control, Florida is taking the ideological fight directly to the doorstep of Democratic socialism. 

Armed with a $1.8 trillion economy and record-breaking wealth migration, the Florida Chamber of Commerce has officially launched a Times Square campaign naming New York City Mayor Zohran Mamdani Florida’s “Economic Developer of the Year” — a reminder, according to the Chamber, of how progressive taxes and socialist policies are driving wealth, businesses and families to the Sunshine State.

“We wanted to thank him for the jobs, the companies, the people that they’re pushing out of New York — and a lot of them are coming to Florida,” Chamber CEO Mark Wilson first told Fox News Digital on Monday.

“America is at a crossroads right now. I think everyone that’s paying attention knows that our country was built on freedom and free enterprise and people having the liberty to make their dreams come true,” he said. “And there’s a push in our country right now to take those liberties away and to attack free enterprise. And that’s never worked anywhere, and it won’t work in America.”

FLORIDA STOCK RISING: HOW IT BECAME WORLD’S 14TH LARGEST ECONOMY AS BLUE STATES CONTINUE A ‘DEATH SPIRAL’

“What Mayor Mamdani is doing is dangerous for the country, right? It’s bad for New Yorkers. It’s bad for New York. It’s very harmful for the country,” Wilson continued. “We can choose free enterprise, which is what America was built on, or we can choose to destroy that, which is what the social[ist] policies do… And so, what we’re hoping happens from this campaign is that we refocus America on free enterprise.”

In addition to putting the onus on Mamdani, the Chamber’s campaign highlights its argument that lower tax rates yield higher total state revenues by incentivizing growth, while blue-state tax hikes trigger a tax-based exodus. According to the Chamber, citing IRS migration data, Florida gains approximately $2.4 million in net taxable income every hour, while New York loses approximately $1.1 million per hour. The Chamber also says Florida gains a net 551 residents daily, compared to New York losing 115 residents daily.

According to the Chamber’s press release, New York’s state budget is more than double Florida’s, and New York City’s municipal budget alone is more than $8 billion higher than the entire Florida state budget.

“What do people like Mayor Mamdani do? They want to then increase taxes on the people who are left, which just further accelerates people leaving places like New York,” Wilson explained.

“Florida’s lowered taxes over 50 times in the last 15 years. And we have record revenues coming in because people want to be here. And when the economy grows, tax revenues grow. That’s how free enterprise works,” Wilson said.

“The socialist agenda sounds crazy because it is crazy, right? ‘Free Enterprise Florida’ is a way to highlight what happens in states like Florida — when we focus on less tax, less government, more freedom, more liberty — and what happens in places like New York when they increase taxes and regulation,” the CEO added. “So this is an opportunity for people in New York and people across the country to say, ‘Hey, we have a choice to make here.’”

“What we’re really trying to do here is remind people that America is an experiment. It’s 50 states competing for where do we take America going forward? And I think if you look at the scorecard of how Florida is doing compared to how New York is doing, we want to help New York follow in Florida’s footsteps.”

According to Wilson, Florida is not seeking to tear down New York or “spike the football,” but rather wants every state to succeed by embracing free-market principles to boost overall U.S. GDP growth.

“Even though Florida is winning right now, we’re not looking for New York to lose. We’re hoping that these other states will say ‘no’ to this move towards socialism and say ‘yes’ to the very policies that our country was founded on,” he said. “This isn’t about spiking a football or looking at the scoreboard about Florida versus New York. This is really about trying to save our country from crazy.”

“We’re in a big competition with every other state, but it’s a competition for ideas. And we’re trying to highlight to the country that free enterprise wins every single time. It’s what’s best for customers, it’s what’s best for job creators. And if we focus on it in America, we can get back to that three-plus percent GDP growth, which is what our country really needs,” Wilson noted.

Mayor Mamdani’s office did not immediately respond to Fox News Digital’s request for comment.

Wilson also outlined future targets for the “Free Enterprise Florida” campaign beyond Manhattan while highlighting decades of bipartisan and conservative governance that built Florida’s modern economic engine.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“We had to start in New York City because the mayor of New York City, obviously, is pushing that community into a direction that it’s not good for the people who live there,” the CEO said. “But there’s several runner-ups for this. When you look at Chicago, when you look at California, Minneapolis, there’s places all over the country that come in a close second to the movement in New York City. So we’re gonna continue to highlight what works.”

“Our country is celebrating 250 years this year, and it has a lot to do with our freedom, our faith and our free enterprise,” Wilson said. “And I think if we can focus on free enterprise for the next few years and make that what we base our decisions on, then this country can grow at 3% GDP, and we’ll once again get back on the track that we need to be.”

READ MORE FROM FOX BUSINESS

Markets regulator Sebi is using artificial intelligence and data analytics to track misleading financial advice on social media, as a new investor survey showed that 62% of investors are influenced by finfluencers. In its annual report, the market regulator said trust in the digital era can no longer be protected only through exchanges, clearing corporations and depositories.

“Data has become a second layer of market infrastructure, making the quality of market data, the integrity of data systems and governance of data use central to investor protection,” it said.

The regulator said it has responded by investing in technology and data analytics as core supervisory tools, so that the investor protection framework scales along with the growth of the market.

A key part of this digital push is aimed at unregistered financial influencers, many of whom operate on social media without accountability or verified performance records. Sebi said its latest investor survey showed that 62% of investors are influenced by finfluencers, creating the need for stronger digital vigilance.

Project Sudarsan to track online advice

Sebi said it has launched Project Sudarsan, a tool developed to monitor unsolicited financial advice on social media. It has also rolled out Sebi R(AI)DAR, an AI-enabled platform to review advertisements.
Also Read: Info Edge Q1 Results: Standalone Profit falls 6% YoY to Rs 245 croreThe regulator said these tools will help it identify unauthorised digital activity and finfluencers who may mislead investors through unverified claims.

The action comes after a sharp rise in retail participation since the pandemic, especially in high-risk areas such as options trading.

Sebi chairman Tuhin Kanta Pandey earlier said that several retail investors were being influenced by such online personalities to enter the risk-prone derivatives market, often through claims that large money can be made from trading. Sebi has already removed more than 1.2 lakh misleading social media posts by unregistered finfluencers and is using AI tools to track violations in the digital space.

Fake apps also under watch

Sebi’s digital investor protection plan also covers payment verification and trading apps. The regulator has introduced Validated UPI handles and the Sebi Check facility, which allow investors to verify in real time whether a payment is going to a genuine Sebi-registered intermediary.

It has also partnered with Google Play for a verified app label initiative. This will give investors a visible signal that a stock trading app belongs to a genuine Sebi-registered broker. The move is aimed at tackling fake trading apps, fraudulent payment requests and impersonation of registered intermediaries.

Pandey had earlier said Sebi’s action against finfluencers is not a heavy-handed crackdown. He described it as a calibrated exercise aimed at identifying problem areas and dealing with them. “Market development is not about a sledgehammer approach but more like a surgeon’s knife — identifying problem areas and dealing with them,” he had said.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Follow