40. New York (Tie)

The Empire State rules for education and innovation. But empirical measures of the state’s business costs—the highest in the nation—are repelling some businesses.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 37 50 49
Workforce 105 43 45
Quality of Life 176 21 22
Infrastructure & Transportation 141 38 42
Economy 189 34 (Tie) 14
Education 126 1 2
Technology & Innovation 249 3 1
Business Friendliness 93 29 (Tie) 30
Cost of Living 1 50 47
Access to Capital 24 4 3
Overall 1141 40 (Tie) 35

Economic Profile

Governor: Andrew Cuomo, Democrat

Population: 19,651,127

GDP growth: 0.7 percent

Unemployment rate (May 2014): 6.7 percent

Top corporate tax rate: 7.1 percent

Top individual income tax rate: 8.82 percent

Gasoline tax: 68 percent

Bond rating/outlook: Aa2/positive

Major private employer: North Shore-Long Island Jewish Health System

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

  • Scott Cohn develops in-depth features, special reports and documentaries for CNBC and CNBC.com.

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