New York Gets Low Ranking For Doing Business, According To CNBC

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CNBC ranks New York as the 40th best state to do business in.
CNBC ranks New York as the 40th best state to do business in.

WESTCHESTER COUNTY, N.Y. -- CNBC has released a survey that ranks New York as the 40th best state for doing business in the United States, putting it among the worst business-friendly states in the nation.

CNBC said that this was not an opinion survey and that each state was ranked based on a set of 56 measures of competitiveness. Those 56 measures were then broken into 10 broad categories, which were weighted.

The Empire State struggled mightily in a number of categories, including coming in dead last in cost of doing business and cost of living, according to CNBC.

Neighboring Connecticut and New Jersey fared worse, however, ranking 46th and 43rd, respectively.

The top state in the survey was Georgia.

Click here to see the full CNBC survey.

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Comments (11)

Cuomo's ads only run in NY markets. Political ads is more like it.

Contrary to Mr. Cuomo's repetitively aired TV commercial, NY is NOT "ranked No.2 in the nation in new, private-sector job creation." Cuomo's commercial borrows from a "The Business Journals" article and graph printed May 3, 2012. That graph within the article depicts the increase in jobs from 2002 to 2012. Governor Cuomo was elected in 2010 and can only be responsible for not much more than a year of those purported jobs created. In addition, since 2010, 328,538 people fled the state, "the largest outflow of any state" for that period, according to the Empire Center and the Census Bureau. According to the BLS, as of May 2014, New York's current unemployment rate is 6..7% and ranked 37th by state. And according to the US Census Bureau, in 2012 the NY State median income, adjusted for inflation, was $51,017, a -15.3% decline from 1989, the last year of Ronald Reagan's presidency! Last year CNBC's Top States for Business" ranked New York State 44th for cost of doing business, 47th for cost of living, 30th for business friendliness, and 38th for quality of life. So we moved up 4 points in one category….Obamanable. Cuomo is of the same ilk!

Contrary to Mr. Cuomo's repetitively aired TV commercial, NY is NOT "ranked No.2 in the nation in new, private-sector job creation." Cuomo's commercial borrows from a "The Business Journals" article and graph printed May 3, 2012. That graph within the article depicts the increase in jobs from 2002 to 2012. Governor Cuomo was elected in 2010 and can only be responsible for not much more than a year of those purported jobs created. In addition, since 2010, 328,538 people fled the state, "the largest outflow of any state" for that period, according to the Empire Center and the Census Bureau. According to the BLS, as of May 2014, New York's current unemployment rate is 6..7% and ranked 37th by state. And according to the US Census Bureau, in 2012 the NY State median income, adjusted for inflation, was $51,017, a -15.3% decline from 1989, the last year of Ronald Reagan's presidency! Last year CNBC's Top States for Business" ranked New York State 44th for cost of doing business, 47th for cost of living, 30th for business friendliness, and 38th for quality of life. So we moved up 4 points in one category….Obamanable. Cuomo is of the same ilk!

Beautiful beaches, the largest public park in the country, a great higher education system, the Big Apple, the Hudson River, affluent people. So much to offer. Of course it costs more to live and do business here. Worth every penny!

Would love to see the criteria. Could figuring in the cost of living for the millions of folks in NYC skew results?

Also my family lives in states with lax environmental laws and big concessions for multinationals. There I've experienced miles and miles of generic, beige big box merchandising. These stores strangely reminded me of my Middle School social studies' description of what was wrong with Communism in the 1970's. Single sanctioned, recognized brands of goods being dominant. Uniform, with no personality or local pride. New York has America's richest cultural identity, would hate to see that lost in the pursuit of a closer 5 Guys, Target, Apple, or Walmart.

Dear GGN:

Per your request: The methodology: http://www.cnbc.com/id/101758236

don't limit your thinking to retail.

what about small business, real estate and the multinationals?

Until New Yorkers wake up and vote out Cuomo, this state will keep going down the tubes! On the way to becoming another Detroit with the liberals in charge. Amazing how Cuomo has a big lead over Astorino. Astorino
Is the only hope for NY!

Until New Yorkers wake up and vote out Cuomo, this state will keep going down the tubes! On the way to becoming another Detroit with the liberals in charge. Amazing how Cuomo has a big lead over Astorino. Astorino
Is the only hope for NY!

Gee, our state really sucks to do business in...who would have guessed that Dem rule would have destroyed our majestic state.

Memo to Mr. Astorino: Please ask Mr. Cuomo to explain why after spending gazillions ($) on phony commercials about how NYS is so hospitable to business, we're still only ranked #40 in this survey. (These commercials, saturating the airwaves these pre-election days, "would make a skunk vomit.")