The cost of living is lower because of various reasons...
There are lots of business' in the south now with more coming all the time. Do you know why?
We do.
Shift in demographics. Retirees. More people = more business.
You're avoiding the question.
There is more wealth in the north. It's a fact. This has been true since colonial times. It was part of the reason for the Civil War because the south was agricultural and the north was industrial. Most all of the great business leaders came from the north. Rockefeller, Vanderbilt, Carnegie, Bill Gates, Buffett, etc.
There isn't much old money in the south for this reason compared to the Northeast.
There are few universities, or none really, comparable to the Ivy League.
I'm not South bashing. I'm just being honest. You cannot be a fanboy for one side or the other. You have to be honest with yourself, no matter where you live or where you were born.
There is less money in the south. People are generally less educated. There is less business and industry, particularly in the most profitable industries like finance or computer software. These are all facts. It's not up for debate.