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New York is the 49th Best State for Business 2012

No. 49 New York Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State GDP  % Growth ’07-’10: 1.55 % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 1.88 Unemployment Unemployment Rate Dec. 2011 %: 8.00 Comparison with Nat’l Rate (8.50%): -0.50 Domestic Migration Domestic Net Migration ’00-’09: -1,649,644 Rank: 50 …

No 49: New York

No. 49

New York

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: 1.55
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): 1.88

Unemployment

  • Unemployment Rate Dec. 2011 %: 8.00
  • Comparison with Nat’l Rate (8.50%): -0.50

Domestic Migration

  • Domestic Net Migration ’00-’09: -1,649,644
  • Rank: 50

State Government

  • Debt per Capita Fiscal Year ’10 ($): 6,694
  • State & Local Gov’t Employees per 10k Residents: 634.48

State-Local Tax Burden

  • Rate (%): 12.06
  • Compared to Nat’l Avg. (9.8%): 2.26
Key Companies
  • IBM
  • AIG
  • Pfizer
  • PepsiCo Inc.
  • JP Morgan Chase
  • Citigroup
  • Verizon
  • Phillip Morris
  • Goldman Sachs
  • American Express
Development Trend Indicator: Neutral
Gov. Cuomo has pleasantly surprised business but plenty of problems remain.
CEO Comments
“What are California and New York thinking? I used to do a lot of business in New York now I completely avoid it if possible.”

“New York is moving in the right direction.”

“Recently moved from New York state to Tennessee. Differences in ambience/climate/cost of living/attitude of government towards business are outstanding!”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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