New York heavily restricts construction and infrastructure projects of all kinds. The tech and finance elite will stay here but normal people who are trying to make a decent living in construction and similar trades will end up following opportunities.
NYC population is declining after all [1] largely because the city would rather treat housing as a scarce resource for them to divy up than something to increase the supply of.
[1]. https://www.realtor.com/news/trends/new-york-city-population...