New York State ranks third among all states in adding and expanding business facilities, according to a respected annual ranking of the 50 states' business climates.
Site Selection magazine cited the addition of Empire Zones, major business investments across the state, and "a renewed commitment to making New York a business-friendly state" in ranking New York behind only Illinois and Kentucky in its annual "Governor's Cup" ranking of states' economic growth and promise.
"Site Selection's recognition is further confirmation that the dramatic steps we have taken over the last seven years helped turn New York from a place that companies left every day into a place in which companies want to create jobs," Governor Pataki said.
Business Council President Daniel B. Walsh praised the news.
"While many states are talking about raising taxes on businesses and workers, New York continues to cut taxes and see powerful benefits," Walsh said in a statement.
"Corporations are locating and expanding here because Governor Pataki and the Legislature have made the Empire State a much better place in which to do business.
"As we continue our commitment to reducing taxes and take other steps to be more competitive, we will see more new businesses-and more jobs-in New York State."
Site Selection based its calculations on its own data base of information on more than 110,000 corporate-location projects since 1989, including factories, offices, R&D facilities, headquarters, and other facilities.
States were ranked on 10 criteria:
- Total new and expanded facilities per one million population in 2001.
- Total capital investment in new and expanded facilities per one million population in 2001.
- Total new jobs created at new and expanded facilities per one million population in 2001. (New York ranked ninth in this category.)
- Total actual number of new and expanded facilities in 2001. (New York ranked fourth.)
- Percentage growth in new and expanded facilities from 2000 to 2001.
- Three-year growth average (1999 through 2001) in new and expanded facilities. /li>
- Ranking in Site Selection's annual business climate survey. (New York ranked eighth.)
- Number of top 100 metros in the annual ranking of top metros. (New York ranked third.)
- Number of top 100 small towns in the annual ranking of small towns. (New York ranked seventh.)
- Number of 100-plus job projects per one million population in 2001.