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Inward Investment Guides

Energy Innovation Boosts Foreign Direct Investment

Christopher Steele, Global COO and North American President, Ivestment Consulting Associates (Location USA 2014)
International investors can avail themselves of incentives to develop conventional as well as non-conventional sources of energy and other innovative technologies. More

New York Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
New York's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Ports Jockey for Post-Panamax “Pole Position”

Tim Feemster, Managing Principal, Foremost Quality Logistics (Q1 2014)
East and Gulf Coast ports are gearing up to accommodate the supersized containerships that will be able to traverse the expanded Panama Canal — and the delayed expansion process has given them the advantage of time to get ready. More

Manufacturing in America: Bigger, Better and Bolder

Mark Crawford (Q1 2014)
American manufacturing is on the upswing, with advances in innovation and productivity buoyed by decreased energy and transportation costs, and new efforts to increase work force skills. More

Sustainability: The “Invisible Hand” Shapes Next-Generation Location Selection

Don Schjeldahl, Founder, Don Schjeldahl Group (Q1 2014)
Companies that view their location strategies through a “sustainability filter” are more likely to achieve competitive advantage and long-term stakeholder value. More

A Look Back - and Ahead - at the 2013/2014 Legislative and Incentives Landscape

Jason Hickey, President, Hickey & Associates, LLC (Directory 2014)
From what we witnessed in 2013, we can only expect more dynamic developments in state incentive programs and a continued focus on additional transparency. More

Regional Report: Mid-Atlantic Region Drawing High-Tech Investment

Karen Thuermer (Directory 2014)
Some new and creative incentive programs are being provided in the Mid-Atlantic States to help drive the region’s high-tech and other industries. More

New Technologies Transforming Manufacturing, Changing Competition

Area Development Online Research Desk (Directory 2014)
According to a recent paper from the Deloitte University Press entitled “The Transformation of Manufacturing,” advanced materials, new production technologies, and digital techniques are allowing manufacturers to remain competitive despite numerous challenges. More
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Studies/Research

NEW YORK at a glance

POPULATION: 19,465,197 (2011 estimate)

LABOR FORCE: 9,545,400 (August 2012)

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) 32.9% (2011)

BASIC BUSINESS TAXES:
Corporate Income Tax: NYS's maximum corporate franchise (income) tax rate for most corporate taxpayers is 7.1 percent; for qualified NY manufacturers the corporate franchise tax on entire net income is 6.5 percent (for eligible qualified NYS manufacturers the rate is reduced to 3.25 percent for tax years beginning on/after Jan. 1, 2012 and before Jan. 1, 2015). Corporations pay the highest tax computed on the following four alternative bases: (1) a tax of 7.1 percent (3.25 percent for eligible qualified NYS manufacturers until 2015, when the rate will be 6.5 percent) on allocated entire net income; (2) a tax of 0.15 percent on allocated business and investment capital (maximum for qualified NYS manufacturers: $350,000; maximum for nonmanufacturers: $1 million; (3) a tax of 1.5 percent on allocated minimum taxable income (0.75 percent for eligible qualified NYS manufactures until 2015, when the rate will be 1.5 percent); and (4) a separate minimum tax at fixed dollar amounts, based on NYS receipts, ranging from $25 to $5,000 (except for eligible qualified NYS manufacturers, for which the rates will be onehalf of the amounts until 2015). An additional tax of 0.09 percent applies to a corporation's allocated subsidiary capital.

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:
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

  • Machinery
    17.2%
  • Computer & Electronic Products
    13.7%
  • Food
    10.7%
  • Fabricated Metal products
    10.6%
  • Transportation Equipment
    4.5%
  • Plastics & Rubber Products
    4.5%
  • Printing & Related Support Activities
    4.4%
  • Other Manufacturing Industries
    34.4%