×

35. New York

The Empire State reigns supreme for education and innovation. But despite generous business incentives, it is royally expensive.

Category
Score
2015 Rank
2014 Rank
Workforce 210 29 (Tie) 43
Cost of Doing Business 97 44 (Tie) 50
Infrastructure 130 39 (Tie) 38
Economy 161 31 (Tie) 34
Quality of Life 199 20 (Tie) 21
Technology & Innovation 190 4 3
Education 145 3 (Tie) 1
Business Friendliness 36 43 29
Cost of Living 5 48 50
Access to Capital 38 13 4
Overall 1211 35 40 (Tie)

Economic Profile

Governor: Andrew Cuomo, Democrat

Population: 19,746,227

GDP growth: 2.5 percent

Unemployment rate (May 2015): 5.7 percent

Top corporate tax rate: 7.1 percent

Top individual income tax rate: 8.82 percent

Gasoline tax: 62 cents/gallon

Bond rating/outlook: Aa1/stable

Major private employer: Consolidated Edison

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, UPI, New York Department of Labor

FULL LIST: 2015 TOP STATES FOR BUSINESS

Latest Special Reports

  • Top States 2016

    CNBC's annual study measures all 50 states on more than 60 different metrics.

  • CNBC tackles the business of travel in this new special report covering the leisure and hospitality sector.

    From the most innovative hotels to the best ways to be a road warrior, CNBC tackles the business of travel in this new special report covering the leisure and hospitality sector.

  • Trading Nation

    Where headlines become opportunities.