#49 New York
#49 in Taxation and Regulation
#38 in Workforce Quality
#47 in Living Environment
Right to Work? ✗
#49 New York
Regional Profile – Northeast
| Connecticut | ||||
| Delaware | ||||
| Maine | ||||
| Maryland | ||||
| Massachusetts | ||||
| New Hampshire | ||||
| New Jersey | ||||
| New York | ||||
| Pennsylvania | ||||
| Rhode Island | ||||
| Vermont |
Key Industries
Advanced Manufacturing, Solar Energy
Key Companies
AIG
American Express
Citigroup
Goldman Sachs
IBM
PepsiCo Inc.
Pfizer
Philip Morris
JPMorgan Chase
Verizon
Advantages
New York lowered its corporate income tax rate from 7.1% to 6.5%.
In manufacturing, the new orders index moved up three points and shipments advanced two points. The prices received climbed nine points, suggesting a pickup in the pace of selling price increases. Employment showed a slight increase in job levels and hours worked.
Challenges
New York lost nearly 1.6 million taxpayers between 1985 and 2013.
Key Contacts
Empire State Development
Howard Zemsky, President & CEO
518-292-5100
625 Broadway
Albany, NY 12245
Hzemsky@esd.ny.gov
http://www.esd.ny.gov/
CEO Comments
“New York is expensive, taxes are high, difficult to find and keep good employees.”
“NYC is horrible with taxes and regulations. DeBlasio is making NYC the late ‘70s all over again.”
“Without a doubt, NY is the absolute worst state to conduct business. Taxes are out of sight, regulation is over the top, and the work ethic is less than desirable.”
Current Developments
Regional Report: Northeast 2016
March 18, 2016
Leading a Digital Transformation
February 17, 2016
M&A: Piecing Together a Natural-Foods Empire
October 9, 2015
Deloitte CEO Cathy Engelbert Enjoys a Commanding Lead Among the Big Four
June 19, 2015