New York’s economic performance over the past decade was mediocre — but its future looks worse,  according to the 5th annual Rich States, Poor States report, just issued by the American Legislative Exchange Council (ALEC).

screen-shot-2012-04-12-at-125552-pm-8347016The report — co-authored by the noted supply-side economist Arthur Laffer;Wall Street Journal editorial board member and economics writer Steve Moore; and Jonathan Williams, director of ALEC’s Center for State Fiscal Reform — ranks states on both a backward-looking index of Economic Performance for 2000-2010, and a forward-looking Economic Outlook index.

New York achieved a middling-to-fair rank of 21st in per-capita income growth and 24th in payroll growth during the past decade, but its overall Economic Performance rank came in at 40th, due to a last-place ranking for domestic migration.  (New York’s loss of population to other states has been documented by the Empire Center here, and here.)

Looking ahead, however, Rich States, Poor States assigned New York a ranking of 50th — dead last — based on 15 equally weighted policy variables, including tax rates and tax burdens, public employees as a share of population, government debt service, and unionization. The index does not include policy developments effective since 2011, so perhaps the enactment of Governor Cuomo’s 2 percent property tax cap (tax limitations being one of those 15 variables) will boost us back to 49th in the report’s sixth edition. Here are the full rankings:

screen-shot-2012-04-12-at-125107-pm-1918739

About the Author

E.J. McMahon

Edmund J. McMahon is Empire Center's founder and a senior fellow.

Read more by E.J. McMahon

You may also like

As leaves turn, NY’s post-pandemic recovery still has very far to go

Entering the second autumn since the COVID-19 outbreak of March 2020, the pace of New York State's pandemic economic recovery has been abysmal by almost any standard. New York was the national epicenter of the pandemic, and Governor Cuomo's "" business Read More

More NY job gains in August—but employment needs to rise a lot further

New York's jobs report for August looked relatively strong—but only by comparison, that is, with . On a seasonally adjusted basis, New York gained 28,000 private-sector jobs last month—a growth rate of 0.4 percent, according to . This was double th Read More

Sales Tax Receipts Surge Statewide, Filling Local Government Coffers

Local governments across every region of the state raked in robust sales tax collections during the three months that ended on June 30th Read More

Remote Threat 

Remote work and a more mobile professional class will increase the speed and scope of New York's ongoing out migration. Read More

New York’s Hospital Industry Ranks Near the Bottom of Two Quality Report Cards

New York's hospitals remain near the bottom of two quality report cards. The state's hospitals received the lowest rate of any state except Nevada and DC. Read More

Tax hike and huge spending increase seem likely in next NY budget

New York state today began its 2022 fiscal year without an adopted budget—which, in itself, is not a big deal. The state government can continue to pay bills and employee salaries next week if either final appropriations Read More

NY Post-Pandemic Employment Tide Stopped Rising At Year’s End

New York's post-pandemic employment recovery came to a halt and moved into reverse in December, according to the state's for the final month of COVID-wracked 2020. Private payroll employment in December was 966,000 jobs below the level of the previous Read More

As a Supreme Court Ruling Loomed, Cuomo Bent His Own Rules on COVID ‘Clusters’

In the midst of the constitutional showdown over his pandemic policies, Governor Cuomo made changes to a disputed Brooklyn 'cluster zone' that seemed to contradict his own declared guidelines. Read More

Subscribe

Sign up to receive updates about Empire Center research, news and events in your email.

CONTACT INFORMATION

Empire Center for Public Policy
30 South Pearl St.
Suite 1210
Albany, NY 12207

Phone: 518-434-3100

General Inquiries: Info@EmpireCenter.org

Press Inquiries: Press@EmpireCenter.org

About

The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.

Empire Center Logo Enjoying our work? Sign up for email alerts on our latest news and research.
Together, we can make New York a better place to live and work!