There is a myth within the populist left they can increase tax as much as they like, but this shows clearly capital is mobile and goes to the places with lower taxes. The numbers are from 2023, actual figures are likely higher. The trend in general is moving capital away from Democrats rules states to conservative states.
Source: https://www.visualcapitalist.com/u-s-states-gaining-and-losing-the-most-wealth/
Visual CapitalistMapped: The U.S. States Gaining (and Losing) the Most WealthNew data shows where billions in income are moving across U.S. states, and which regions are gaining the most wealth.