The fact of the matter is that cities in the U.S., with respect to each other, are in a race to the bottom. There is nothing they can do about it: the Constitution mandates an unrestricted internal market with no barriers to the free flow of goods and capital between states. That means that companies will go wherever they can get the best deal, and there is no way for state and local governments to restrict that movement.
Cities that aren't named New York or San Francisco can either get with the program, as the southern states have been doing, and benefit from the growth, or they can resign themselves to moribund economies and irrelevancy. If they're smart, they'll do what places like Ireland and Switzerland have done, which is offer low corporate taxes and recover the difference with higher taxes on individuals.
Cities that aren't named New York or San Francisco can either get with the program, as the southern states have been doing, and benefit from the growth, or they can resign themselves to moribund economies and irrelevancy. If they're smart, they'll do what places like Ireland and Switzerland have done, which is offer low corporate taxes and recover the difference with higher taxes on individuals.