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 [...]

May 2 2012 by ChiefExecutive.net


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