29. New York

The Empire State ranks low for its high costs but reigns nearly supreme for technology and innovation.

Top States New York
Source: George Kavallines
Category
Score
2016 Rank
2015 Rank
Workforce 194 35 29 (Tie)
Cost of Doing Business 109 44 44 (Tie)
Infrastructure 130 43 39 (Tie)
Economy 237 10 31 (Tie)
Quality of Life 191 22 20 (Tie)
Technology & Innovation 194 4 4
Education 130 8 3 (Tie)
Business Friendliness 30 45 43
Cost of Living 3 49 48
Access to Capital 40 11 13
Overall 1258 29 35

Economic Profile

Governor: Andrew Cuomo, Democrat

Population: 19,795,791

GDP growth: 1.4 percent

Unemployment rate (May 2016): 4.7 percent

Top corporate tax rate: 6.5 percent

Top individual income tax rate: 8.82 percent

Gasoline tax: 60.72 cents/gallon

Bond rating/outlook: Aa1, 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, Moody's Investor Service, S&P Global Market Intelligence

Latest Special Reports

  • Between new federal tax bill changes and underutilized deductions, CNBC finds ways to save money while filing taxes.

  • Coverage of the World Economic Forum’s annual meeting in Davos, Switzerland.

  • To turn the page on structural racism, communities are Changing The Narrative. In this series, CNBC explores the central themes of racial healing through stories addressing implicit bias in economic data, the major obstacles to racial equity at work, how fiscal investment can change the narrative on minority entrepreneurship and the ramifications of the great resignation in the Black community.