"My prediction for now is this is going to be the most severe and prolonged fiscal crisis New York state and its local governments have seen, really since the Great Depression when government did not operate at the scale it now operates," Empire Center Research Director E.J. McMahon said. Read More
Tag: Business climate
"The state is continuing its strategy of pursuing flashy mega-projects instead of making New York more attractive for all businesses. We're now in the second decade of this approach, and it's still failing to deliver the promised results," Girardin said. "This is the sort of economic development strategy that politicians turn to when they don't want to take on the tougher questions." Read More
Gov. Andrew Cuomo’s latest economic development “triumph” is a deal to bring a high-tech chipmaker into the 450-acre Marcy Nanocenter outside Utica, where Cree Inc. will build a $1 billion plant with 600 skilled jobs at an average $75,000 salary. Read More
New York ranks 49th out of 50 states in the Tax Foundation's 2017 State Business Tax Climate Index, released today. (New Jersey seems permanently mired in last place, so we've got that going for us, which is nice.) The Empire State's overall ranking on the widely noticed index is unchanged from last year, has ranged between 48th and 50th for a decade now, and has been 49 for most of Governor Andrew Cuomo's tenure. Read More
Days after saddling New York employers with higher minimum wages and the nation's most generous paid family leave mandate, Governor Andrew Cuomo and legislative leaders announced in early April that they had formed a temporary Business Regulation Council to come up with ideas for improving the business climate. The panel's recommendations are, to virtually no one's surprise, underwhelming. Read More
It has taken a lot longer than a proverbial New York minute. As CBS2’s Tony Aiello reported, a company called Valutek promised in 2011 to relocate to upstate New York from Arizona. The state even spent millions of dollars on ads bragging about luring the high-tech firm. But five years later, Valutek still has not moved. CBS2’s Aiello was demanding answers Wednesday as to why. Read More
Seven years since the end of the Great Recession, and five years since Andrew Cuomo took office as governor, New York state’s economy is in splendid shape. That’s what the state’s ubiquitous “Open for Business” ad campaign would imply, at any rate. The facts tell a different story. Read More
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