It turns out that a lot of those who are pulling it off—in real estate and beyond—are originally from here. Indeed, the trend has accrued such critical mass that at least in the Department of Commerce’s Office of Business Attraction and Retention, some officials have cooled their long-held efforts to stymie Philly’s braindrain. “Let them go and do time in New York or Los Angeles, let them gain business and life experience,” director Karen Randal explains. “When they’re ready, they come back and realize what a great city Philadelphia is, and they bring their expertise, business and enthusiasm back here and help pump in new life.”
Emphasis added. Philadelphia is one cog in the big wheel of NYC outmigration. "Brain drain" is one word and desirable. Go to Big City and steal some business contacts for you hometown.
What all of the above means is that paying the price to be in New York City isn't worth it. Richard Florida has no clothes. Cash in now and split your dismal Toronto time with cool South Beach.
I'm not telling you to stay in Philadelphia or whatever pathetic backwater you hail from. Move or die. Your stint in Alpha Global City is temporary. New York is the Alpha but not the Omega.
The Omega is the Rust Belt. You will return to your spawning ground and catalyze world trade. That's not a directive. It's an observation. New York, even Austin, is what is making Pittsburgh great.