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State Resources


New York Business Resources

As the leading banking and financial services center in the United States and arguably the world, New York City dominates New York’s economy. New York is home to more Fortune 500 companies than any other state and holds the New York Stock Exchange, the world’s largest stock exchange by dollar value. Coupled with the seven other smaller exchanges, some of the nation’s largest banks, trust companies, insurance companies, and brokerage houses, Wall Street exerts a profound influence on finances around the world. The borough of Manhattan is also the headquarters of the nation’s major television and radio networks, publishing houses and advertising agencies, making it the heart of mass media in America. Outside of New York City, strong manufacturing, agricultural, and transportation sectors bolster the rest of the state. With a GDP of just over $1 trillion, New York has the third largest economy of all U.S. states.

Business Data

Per Capita Real GDP$46,617 Rank: 4/50 (2006)
Population18,976,500 Rank: 3/50 (2000)
Per Capita Personal Income$42,392 Rank: 5/50 (2006)
Unemployment Rate5.00% Rank: 36/50 (2008)
Business Tax Climate IndexRank: 48/50 (2008)
Corporate Tax Rate7.1%
Individual Tax Rate 4% - 6.85%
Sales Tax Rate 4%

Business Tax Climate Index

Individual Income Tax Index Rank41
Sales Tax Index Rank49
Unemployment Insurance Tax Index Rank46
Property Tax Index Rank43
Business Tax Climate Index48
Corporate Tax Index Rank23

State Information

AbbreviationNY
CapitalAlbany
Nick NameEmpire State
State Web Sitehttp://www.ny.gov
MottoEver upward!

Top 5 Export Partner Countries

Canada, Israel, United Kingdom, Switzerland, Japan

Top 5 Export Merchandise

Chemicals Sales Computers and Electronic Products Sales Machinery Manufacturing Primary Metals Manufacturing Computers and Electronic Products Manufacturing

Major Cities

Buffalo, New York City, Rochester

GDP

Total Gross Domestic Product (USD Millions) $1,103,024.00 (2007)
Per Capita Real GDP (USD)$49,038.00 Rank: 4 (2007)

Population Stats

Population 19,490,297 Rank: 3 (2008)

Age Distribution

Under 18 Population4,690,110
Under 18 Percent of Total Population25%
65 and older Population2,448,350
65 and older Percent of Total Population13%

Gender Distribution

Male Population48.2%
Female Population51.8%
Non-English Speaker (at home)4,034,400
Net International Immigration667,007
Birth Rate13%
Percent of People Under Poverty Level13.8%
Rank18

Expenditure

Per Capita State Spending$14,241
Rank12
Energy Expenditures per Person$3,082
Expenditures of State and Local Government Employee-Retirement Systems$18,225,586

Revenue

Personal Income$30,090
Rank5
State Internal Revenue Collection$244,672,914
Rank2
Cash and Deposits by State Government$5,810,980
Per Capita State Tax Collection$2,979
Rank11

Education

High School Graduation Rate64.4%
Rank40
Percent of Population with a Bachelor's Degree17.9%
Rank19
Percent of Population with an Advanced Degree13.3%
Rank5

Largest Universities

New York University SUNY, Buffalo Stony Brook University
High School Graduation Rate64.4%

Logistics

Public Road Length (Mile)113,617
Gas Tax Rate (%)24.65%
Highway Planning and Construction (USD Thousands)1,463,313
Number of Public Airports146

Main Airports

ALB: Albany BUF: Buffalo IAG: Niagara Falls JFK: New York ROC: Rochester SWF: Newburgh SYR: Syracuse

Ports

Albany Buffalo Hempstead New York/New Jersey Port Jefferson

Weather


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State Business Links

New York Times
http://www.nytimes.com

Secretary of State

New York Secretary of State
http://www.dos.state.ny.us
Comprised of the Office of Business and Licensing Services and the Office of Local Government Services. Calendar of meetings and events, searchable license, and more.

Small Business Administration

New York Small Business Administration
http://www.sba.gov/localresources/district/ny/ny/index.html
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. We recognize that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. We help Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

Top 10 Business Links

BioNY
http://www.nystar.state.ny.us/
BioNY is a resource for New York’s bioscience community. The site provides patent IP and licensing information, research papers, different life sciences programs, biotech companies, bio industry news, and business assistance that addresses development and funding.
Doing Business with the Port Authority of New York and New Jersey
http://www.panynj.gov/DoingBusinessWith/
From this site, an entrepreneur interested in interaction with the Port Authority of New York and New Jersey can learn about the seaport, international offices, procurement opportunities, the inspector general, and advertising opportunities.
I Love NY
http://www.empire.state.ny.us/
Managed by the State Government of New York, this resource provides information on the Business, Filming, Tourism, high-tech industries in New York. You can find comprehensive information and the latest updates about these supporting industries to New York's economy.
Manhattan International Development Corporation
Manhattan International Development Corporation
The MIDC website provides a list of international events in Manhattan, an international resource guide containing definitions of need-to-know terminology, international trade news, a Manhattan export directory, and more.
New York City Business Solutions
http://www.nyc.gov/html/sbs/nycbiz/html/home/home.shtml
This service is designed to help all types of businesses solve common business issues. Information is organized in business activity categories pertaining to assessing incentives, navigating government and regulations, how to manage your business, and more.
New York State Small Business Development Center
http://www.nyssbdc.org/
The New York SBDC aims to help the development of small businesses in New York. They offer counseling services on all manner of business matters at low to no cost. Training workshops and seminars are also offered. Some information relating to international business, entrepreneurial education, veterans, manufacturing and defense, disaster recovery, and technology and innovation is freely available on the website.
Score NYC
http://www.scorenyc.org/smallbiz/index.php
SCORE is a non-profit organization whose volunteers, current or retired business owners, provide training and counseling to small businesses. Seminars are also available for a fee.
SUNY Business Incubators
http://www.suny.edu/govtrelations/federal/businessIncubators.cfm
This site groups all the business incubators available in the state of New York onto one page. These incubators are designed to put entrepreneurs in contact with scientists, research equipment, and facilities, to nurture innovation.
The Business Council of New York
http://www.bcnys.org/
The Business Council of New York is a member-based organization representing New York firms, small and large. Freely available information includes upcoming events, business news, governmental affairs information, and more. Members may take advantage of a number of discounts, insurances, or other programs offered by the council.
U.S. Export Assistance Center of New York and Northern New Jersey
http://www.buyusa.gov/nynj/
The NY-NJ branch of the Department of Commerce specializes in helping small to medium sized companies develop and execute exporting strategies. Different offices throughout the state are listed along with websites for further assistance. Information pertaining to trade leads, trade events, export financing, or FAQs is also available. Fees vary and are based on the services being provided.

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