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2015 Gold & Silver Shovel Awards Recognizing Excellence in State Job Creation and Economic Development Efforts

Area Development Magazine Special Presentation (Q2 2015)
Area Development’s annual awards recognize individual states for their overall economic development effectiveness. This year, we honor 21 states for their achievements in 2014 in garnering investment and job creation with Texas, Georgia, Tennessee, South Carolina and Nevada awarded the Gold Shovel. More

Welcoming Others Remains an American Tradition

Nancy McLernon, President & CEO, Organization for International Investment (OFII) (Location USA 2015)
Global investors looking to expand in the U.S. will find an unrivaled consumer market; excellent education system; skilled, productive workforce; and transparent regulatory environment among other advantages. More

10 Inland Ports to Watch

Tim Feemster, Managing Principal, Foremost Quality Logistics (Intermodal Sites)
Inland ports are poised to play an increasingly vital role and could be a large part of the answer to both the fuel and congestion concerns in the domestic supply chain. More

Slideshow: 2014 Gold and Silver Shovel Award Recipients

Area Development Magazine Special Presentation (Directory 2015)
Shown here are 12 of the recipients of Area Development’s 2014 Gold & Silver awards, which were bestowed in recognition of the states’ efforts to capture new facility and expansion projects that resulted in significant investment and job creation. All told, 20 states were recognized for their efforts. More

Water: The New Blue Economy?

Dale D. Buss, Staff Editor,  (Directory 2015)
As companies plan for the future, water keeps pushing itself onto their agendas like an incessant tide. Water resources clearly are rising in significance in many site location decisions, and industry participants expect ‘water pressure’ to keep climbing. More

Regional Report: Growth in Biomedicine, Energy, and Food Processing Helping Mid-Atlantic Prosperity

Mark Crawford (Directory 2015)
In general, the Mid-Atlantic’s strongest sectors are financial and business services, healthcare, biomedicine, food processing, and energy. It’s been an uneven year for the Mid-Atlantic, but there are plenty of bright spots to light the way. More

Urban vs. Suburban: Which Location Will Allow Your Company to Grow?

Julia Georgules, Vice President, Associate Director of Office Research, JLL (Q4 2014)
The key to urban vs. suburban or balancing millennial interests and boomer practicality is deciding which location and workplace strategy will accommodate growth. More

Front Line: Preparing for Takeoff in the Drone Industry

Craig Guillot (Q4 2014)
As drones become smaller, more affordable, and easier to operate, they’re being eyed for use in everything from agriculture to construction and real estate. The Federal Aviation Administration (FAA) says there could be 30,000 of them in American skies by 2020, and according to the Association for Unmanned Vehicle Systems International (AUVSI), the business of manufacturing and flying drones could become an $82 billion industry within 10 years. More

NEW YORK at a glance

POPULATION: 19,570,261

LABOR FORCE: 9,615,300

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES: Manufacturing, transportation, agriculture, tourism

EXPANDING INDUSTRIES: Biomedical/biotech; green/clean tech; communications and media services; distribution; fashion, apparel, and textiles; food processing; industrial machinery and systems; information hardware and software; materials processing; optics and imaging; wood products

COLLEGE GRADUATES: (Age 25 and over) 32.4%

BASIC BUSINESS TAXES:
Corporate Income Tax: Qualified New York State manufacturers now pay a 0 percent corporate income tax rate.
New York State’s maximum corporate franchise (business income) tax rate for most corporate taxpayers is 7.1 percent (6.5 percent for tax years beginning Jan. 1, 2016). In 2015, corporations pay the highest tax computed on the following three alternative bases:
(1) a tax of 7.1 percent (6.5 percent for tax years beginning Jan. 1, 2016) on allocated business income (0 percent for qualified New York State manufacturers);
(2) a tax of 0.15 percent (0.136 percent for qualified New York State manufacturers) on allocated business capital (the maximum for qualified New York State manufacturers is $350,000, and the maximum for nonmanufacturers is $5 million [NOTE: the capital base is being phased out through 2021]); and
(3) a separate minimum tax at fixed dollar amounts, based on New York State receipts, ranging from $25 to $200,000 (the maximum fixed dollar minimum tax for qualified New York State manufacturers is $4,385 and is being reduced to $3,750 by tax year 2018).

Sales and Use Tax: NYS imposes a sales/use tax at the rate of 4 percent. Counties and cities may impose a sales tax up to a combined maximum of 3 percent within their respective territorial limits. A number of localities have been authorized to impose tax at additional rates (i.e., in excess of 3 percent), ranging from 1/4 percent to 1 5/8 percent. An additional 0.375 percent sales tax rate is charged in counties located within the Metropolitan Commuter Transportation District (12-county area in the lower Hudson Valley, New York City, and Long Island). Manufacturing, aircraft, and IDA exemptions exist.

Property Tax: New York State does not levy real property taxes; however, property taxes are levied by local governments. The counties, which are the principal taxing local units, operate under the town system, so that much of the actual administration and collection of taxes is accomplished at the municipal level. Counties, cities, towns, villages, and school and special districts all have independent powers of taxation. Rates vary according to location.

BUSINESS INCENTIVES:

START-UP NY

New York State Economic Development Fund

Excelsior Jobs Program

Manufacturing Assistance Program

Environmental Investment Program

Linked Deposit Program

Minority- and women-owned business development

Small Business Revolving Loan Fund

Emerging technology tax credits

Film and TV production tax credits

Investment Tax Credit

Economic Transformation Program

Innovate NY

Principal Manufacturing industries

  • Computer & Electronic Products
    13.2%
  • Fabricated Metal products
    12.1%
  • Food
    11.6%
  • Machinery
    9.3%
  • Chemicals
    8.6%
  • Plastics & Rubber Products
    4.7%
  • Printing & Related Support Activities
    4.7%
  • Apparel
    4.4%
  • Transportation Equipment
    4.3%
  • Other Manufacturing Industries
    27.1%