Tag: Economy

Upstate New York has been declining economically for decades, relative to both the rest of the state and to the nation as a whole. Upstate cities, reeling from a significant long-term loss of jobs and people, are among New York's most fiscally distressed municipalities. What do the latest economic data tell us about the path of the upstate economy? What are the prospects for a revival of the region and its cities? To what extent might natural gas "fracking" boost growth? We invite you to join us for the presentation of a pair of Empire Center reports delving into those questions -- culminating in a keynote from an internationally recognized leader in entrepreneurship, innovation and economic growth. Read More

No city in America can match New York’s broad array of taxes—more typical of a state than of a municipal government. Most New York City residents and businesses are subject to combined state and local tax rates far exceeding national norms. Such high taxes are a headwind against economic growth: they add to overhead, cut into profits, and make it costlier to employ people. Read More

Whatever the outcomes of Tuesday's primaries, most mayors who win a new term in cities across the state will face a similar big challenge - how to get their municipalities back on secure financial footing. The next political leaders of New York City, smaller cities upstate , and even large suburban counties like Nassau County, will all face a big test once they take office- how to solve mounting fiscal difficulties. EJ McMahon, with the Empire Center, a fiscally conservative think tank, says the recession, which began five years ago this week, has not caused the budget problems plaguing many of New York’s municipalities, but rather has worsened already existing structural weaknesses. Read More