New Study, Same Results for New York
ALBANY (April 8, 2015): The National Federation of
Independent Business (NFIB), New York’s leading small business advocacy
organization is unsurprised by New York’s last place ranking in the ALEC-Laffer
State Economic Competitiveness Index.
“Until there is a concerted effort to broadly address fiscal
and economic issues, New York is going to continue to languish at the bottom,”
said NFIB New York State Director Mike Durant. “We continuously see Albany
arbitrarily picking economic winners and losers in this state, largely at the
expense of small employer.”
According to the study, the Economic Outlook Ranking is a
forecast based on a state’s current standing in 15 state policy variables. Each
of these factors is influenced directly by state lawmakers through the
legislative process. Generally speaking, states that spend less—especially on
income transfer programs, and states that tax less—particularly on productive
activities such as working or investing—experience higher growth rates than
states that tax and spend more.
“Luckily, the recently enacted state budget does not include
any negatives for small employers, however the status quo is not good enough,”
continued Durant. “We need to stop investing in politically simplistic
endeavors and thoroughly examine New York’s economic development agenda.
Until small employers garner the positive tax and regulatory attention from
Albany that Hollywood, big business and Wall Street receive, rankings like this
will continue.”
Click here for the ALEC-Laffler Economic Competitiveness Index.
