Ready access to capital is a draw in the Empire State, but the high cost of business is a negative.
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New York Score and Ranking
| Category | 2021 Score | 2021 Rank | 2019 Rank | 2021 Grade |
|---|---|---|---|---|
| Cost of Doing Business | 147 | 41 | 42 | D+ |
| Infrastructure | 217 | 13 | 44 | B |
| Life, Health & Inclusion | 218 | 18 | -- | C+ |
| Workforce | 191 | 19 | 29 | C+ |
| Economy | 159 | 12 | 14 | B+ |
| Business Friendliness | 25 | 49 | 49 | F |
| Access to Capital | 164 | 2 | 2 | A |
| Technology & Innovation | 120 | 9 | 4 | B+ |
| Education | 102 | 8 | 7 | B+ |
| Cost of Living | 3 | 49 | 48 | F |
| Overall | 1346 | 22 | 27 |
Economic Profile
Governor: Andrew Cuomo, Democrat
Population: 19,336,776
GDP growth (Q1 2021): 6.6%
Unemployment rate (May 2021): 7.8%
Top corporate tax rate: 6.5%
Top individual income tax rate: 8.82%
Gasoline tax: 42.70 cents/gallon
Bond rating (Moody's/S&P): Aa2, stable/AA+, stable
Major private employers: Consolidated Edison, JPMorgan Chase
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
