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| New
York State - Home to Business |
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New York State Economy
- New York State’s Gross State Product (GSP) is about
$822 billion A year, making it the eleventh largest economy in the world.
- New York State is ranked
fourth in the nation in
attracting new and expanded corporate facilities, according to the March
2005 issue of Site Selection Magazine. In 2004 New York attracted 517
new and expanding business projects, compared with only 75 in
1994.
- New York State is ranked first in the nation in number of Fortune 500 companies
headquarters at 54, according
to Fortune Magazine, 2005.
- New York is ranked first in the nation in number of first tier
universities based on 70 criteria, according to Entrepreneur Magazine,
2004.
- High technology ranking: New York State ranks third in the nation in high technology employment
(305,300),
high-tech payroll ($21.4
billion) and fourth in number of high-tech
establishments (18,500) Source: American Electronics Association’s
Cyberstates 2005 report.
- The Forbes/Wolfe Nanotech Report (2003)
predicted that “the state could become the Silicon Valley of nanotech.”
- International Investment: From 1993 to 2002, New York State’s
share of gross property, plant and equipment of foreign affiliates
was $63 billion. This international
investment level ranks New York State third in the nation after California
and Texas.
Major investors are:
| - UK |
$13.1 billion |
| - Japan |
$9.4
billion |
| - Germany |
$ 9.3 billion |
| - France |
$ 7.4 billion |
| - Canada |
$ 7.3 billion |
| - Netherlands |
$ 4.1 billion |
| - Switzerland |
$ 2.9 billion |
- New York merchandise exports totaled $39.2 billion in 2003 and
continued to rank the State in third place after Texas and California.
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