#49 New York


1.82 out of 10 in Taxation and Regulation

6.07 out of 10 in Workforce Quality

4.68 out of 10 in Living Environment


Creating a Manufacturing Cluster

You may not think of New York City as an advanced manufacturing hub, but that may change. Born of a 10-point action plan announced in November 2015 by New York City Mayor Bill de Blasio, Futureworks was created to unify the momentum in the advanced manufacturing scene and bolster it with resources from an economic development agency. The program includes workshops in the areas of digital, robotics, additive manufacturing and advanced materials.

From the Governor

“New York has a deep, diverse talent pool and pro-growth environment that businesses need to succeed, and today, more companies are choosing New York to grow and diversify their business.” —Gov. Andrew Cuomo

Key Industries

Advanced Manufacturing, Solar Energy

Key Companies

AIG
American Express
Citigroup
Goldman Sachs
IBM
PepsiCo Inc.
Pfizer
Philip Morris
JPMorgan Chase
Verizon

Key Contacts

Empire State Development

Howard Zemsky, President & CEO
212-803-3100
633 Third Ave., 37th Floor
New York, NY
Hzemsky@esd.ny.gov
http://www.esd.ny.gov/

Key Incentives

Excelsior Jobs Program: Offers four fully refundable tax credits, including 6.85% of wages per new job, 2% of qualified investments, 50% of federal R&D tax credit and property tax credit in distressed areas.

New Markets Tax Credit Program (NMTC): Offers investment capital for operating companies and real estate development projects in low-income communities throughout the state.

START-UP NY: Offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible university or college campuses.

Employee Training Incentive Program (ETIP): Offers refundable tax credits of up to 50% of eligible costs, or $10,000 per employee, to employers that procure skills training that upgrades or improves their productivity.

EDCs

Empire State Development: esd.ny.gov

New York State Economic Development Council: nysedc.org

New York City Economic Development Corp.: nycedc.com

Capitalize Albany: capitalizealbany.com

Highlighted Program or Initiative

Futureworks NYC is a component of New York City’s Industrial Action Plan to help new and existing manufacturers adopt new technologies and expand production in the city.

Big Deals

  • Healthcare software company eHealth Technologies announced in July 2017 it would expand its facility in Henrietta and create an additional 215 new jobs.
  • Amazon announced in September 2017 that it will expand its presence in New York City with an additional 2,000 finance, sales, marketing and IT jobs and a $55 million expansion.
  • Amazon announced in September 2017 the creation of 2,250 new jobs and the construction of a $100 million fulfillment center in Staten Island.
  • LEGOLAND announced in October 2017 it will construct a $350 million, 17-acre resort in Goshen.

Big Companies

55 Fortune 500 companies headquartered in state, including:
J.P. Morgan
Citigroup
Goldman Sachs
American Express
Verizon
Viacom
CBS
Time Warner
Pfizer
Travelers
Voya Financial
IBM

C-Suite Testimonials

“We have spent a lot of time building relationships in the community, listening and responding to concerns, and we are looking forward to building a theme park that will enhance the community and be a tremendous neighbor.” —Nick Varney, CEO, Merlin Entertainments

“We’re excited to expand our presence in New York—we have always found great talent here.” —Paul Kotas, Senior Vice President, Worldwide Advertising, Amazon

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