Part 4/13:
The narrative of corporate relocation did not begin with the opening of the new Tower in early 2026. Instead, the decline in New York jobs had been ongoing since at least 2017, during the end of Andrew Cuomo’s second term. The COVID-19 pandemic and subsequent administrations only accelerated this trend. By the time President Biden’s administration had fully taken shape, JP Morgan had already begun pivoting away from New York.