CEO Guide to the States

New York

MADE IN NEW YORK?

New York isn’t commonly known as a manufacturing hub. But the Empire State is logging significant growth in the sector and has added more than 13,300 manufacturing jobs since 2021. Following a decades-long decline in the sector, the state is now attracting a wave of interest. More than 420,000 New Yorkers now work in the sector, contributing more than $83 billion to the state’s domestic gross product in 2022. New York has more than 72 semiconductor facilities across the state, making it the largest semiconductor manufacturing industry in the nation with 10,300 jobs and $2 billion exports. Micron recently embarked on a groundbreaking project that will invest more than $100 billion in the state and create up to 50,000 jobs in the coming years.

"New York’s manufacturing sector is in the midst of a major renaissance, and we’ve got the jobs, the businesses and the investment to prove it. After decades of decline across the manufacturing industry, my administration is turning the sector around with historic actions to bring leading businesses to our state, encourage green and sustainable business practices and prepare the workforce for the manufacturing jobs of tomorrow.”
Kathy Hochul
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

No

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Excelsior Jobs Program: Offers a jobs tax credit of up to 6.85% of wages per net new job, an investment tax credit of 2%, an R&D credit of up to 6% and a property tax credit for companies that meet established job and investment thresholds.

START-UP NY: Offers tax-based incentives, innovative academic partnerships and the opportunity to operate tax-free for up to 10 years on an eligible university or college campus.

Life Sciences Tax Credit Program: Offers a fully refundable credit of 15% for a company that employs 10 or more people for life sciences R&D performed in the state.

Employee Training Incentive Program: Offers a credit of 50% of eligible training costs, up to $10,000 per employee, for New York State employers seeking to upgrade skills or improve the productivity of their employees.

EDCs

Empire State Development

esd.ny.gov

New York City Economic Development Corporation

edc.nyc

Capital Region Center for Economic Growth

ceg.org

Rochester Economic Development Corp.

redcoroc.com

Greater Rochester Enterprise

rochesterbiz.com

Buffalo Niagara Partnership

thepartnership.org/economic-development

HIGHLIGHTED PROGRAM OR INITIATIVE

The Biodefense Commercialization Fund was established to accelerate the development and commercialization of life science innovations that address serious infection disease health threats while creating jobs and encouraging continued growth across the state’s life science industry. Since its inception, Empire State Development has awarded $25.3 million in grants to 11 startups and 13 academic institutions.

BIG DEALS

  • Zinc8 Energy Solutions announced in January 2023 it will build a $68 million commercial manufacturing facility and American headquarters in Ulster County.
  • Plug Power announced in January 2023 it will construct a $125 million manufacturing facility and create more than 1,600 jobs in Albany County.
  • Cummins announced in May 2023 a $452 million investment in its Jamestown facility to produce the industry’s first fuel-agnostic engine platform.
  • Coca-Cola Company announced in May 2023 it will build a $650 million facility and create 250 jobs in Webster.
  • Semiconductor manufacturer AMD announced in August 2023 it will establish R&D design facilities in Dutchess County and create up to 165 jobs.
  • The state announced its first gene therapy hub in Buffalo in October 2023. The $98 million facility will support life-saving therapies.

BIG COMPANIES

51 Fortune 500 companies headquartered in state, including:

  • Verizon Communications
  • JPMorgan
  • Chase
  • Pfizer
  • Citigroup
  • PepesiCo
  • IBM
  • MetLife
  • Goldman Sachs Group
  • Morgan Stanley
  • American International Group
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.