If the state Legislature and Gov. Andrew Cuomo don't act, some New Yorkers would be on the hook for another $1.5 billion in tax hikes, according to state records and experts. E.J. McMahon, founder of the Empire Center, a fiscally conservative think tank in Albany, Cuomo has called the federal tax law "a missile aimed at the heart of New York, and he’s got his own missile aimed at the same people." Read More
The number of educators banking six-figure annual pensions in New York City surged 23 percent last year, according to the Empire Center for Public Policy. Read More
"Upstate is not creating jobs. And you're not going to hang out in Upstate New York waiting for a job to turn up," McMahon said. Upstate is where the overall net loss for the state is coming from. McMahon, who's been crunching Census Bureau data said the impact is obvious. Read More
The recent announcement that Dick’s Sporting Goods will build a 650,000-square-foot distribution center in Binghamton has been cited by Gov. Andrew Cuomo as further evidence of an economic resurgence in the region. “Five years ago, we had a 7.9 percent unemployment rate in the Southern Tier,” Cuomo said. “Today, 4.6 percent. The arrows are headed in the right direction.” In fact, as shown in the state Labor Department’s household survey data, the unemployment rate dropped only because fewer residents of the region are available and looking for work. If the labor force were still at its 2010 level, the unemployment rate would be 13 percent. Read More
State Comptroller Thomas DiNapoli has just issued a report confirming what employment statistics have been showing: upstate New York's economy has lagged behind the nation and downstate regions for years now. Read More
E.J. McMahon joined Liz Benjamin on "Capital Tonight" to discuss the upstate economy and why the state's current policies aren't turning things around. Read More
For several years now, Governor Andrew Cuomo has been misusing employment statistics to back up claims that his policies have ignited an economic resurgence in upstate New York. It happened yet again today, when the governor was in Binghamton to announce that Dick's Sporting Goods had decided to locate a 650,000 square foot distribution center in the Broome County Corporate Park. Read More
Zero. That was the seasonally adjusted annual rate of growth in New York State's economic output during the fourth quarter of 2015, according to preliminary Gross Domestic Product (GDP) data released today. Read More