New York

#49 New York

#49 in Taxation and Regulation

#38 in Workforce Quality

#47 in Living Environment

Right to Work? ✗

Regional Profile – Northeast

STATE	OVERALL REGIONAL RANK	TAXATION & REGULATION REGIONAL RANK	WORKFORCE QUALITY REGIONAL RANK	LIVING ENVIRONMENT REGIONAL RANK
Connecticut	9	10	6	5
Delaware	11	11	3	2
Maine	3	5	5	9
Maryland	7	8	11	8
Massachusetts	8	9	1	6
New Hampshire	2	2	2	1
New Jersey	10	6	9	11
New York	11	11	8	10
Pennsylvania	4	3	4	4
Rhode Island	6	7	7	7
Vermont	5	4	10	3

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
[email protected]
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.”