Categories: Best & Worst States for Business

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 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 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!”

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

Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.