Top States for Business

22. New York

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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 Business1474142D+
Infrastructure2171344B
Life, Health & Inclusion21818--C+
Workforce1911929C+
Economy1591214B+
Business Friendliness254949F
Access to Capital16422A
Technology & Innovation12094B+
Education10287B+
Cost of Living34948F

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

America's Top States for Business 2021
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