A new analysis of New York State's recent economic performance confirms that upstate enjoyed significant job growth in the 10-year period ending in 2001 - especially in the years after lawmakers began reducing taxes and making other business climate reforms intended to foster job growth.
The report, Upstate New York Economic Review, 1991-2001, was commissioned by the Greater Syracuse Chamber of Commerce. David Cordeau, president of the chamber, released the report at an Oct. 18 at press conference at the state Capitol. He was joined at the press conference by representatives of The Business Council and other chambers and economic-development organizations.
Cordeau said the Syracuse chamber commissioned the report to rebut some unjustifiably negative claims about the upstate economy - for example, that the state has lost 300,000 jobs in recent years.
The report noted that upstate New York "shared meaningfully in the state's resurgence and ended 2001 with 155,000 more private-sector jobs than it had at the end of 1991: an increase in private-sector employment that evokes a robust economic-development climate."
In the 10-year period studied, New York's economic growth was stronger in the second half of the decade - the period after Albany began significantly reducing business and personal taxes, reforming regulations, and taking other steps to improve the state's business climate.
The report concluded that:
- New
York ended 2001 with a net five-year gain of 620,000 private-sector
jobs - even after the toll of the 2001 recession and the
aftermath of the Sept. 11 terrorism were considered.
- New
York's new private-sector jobs in this period came mainly
in the state's 25 fastest-growing industries - and "wages
in these industries generally exceeded New York average
wages."
- If
upstate were an independent state, its job growth from 1991-1994
would have ranked 47th among states. But by 2001, upstate's
ranking among states would be 27th.
The new study was conducted by the Pathfinders, a Dallas, Texas-based consulting firm specializing in planning in economic development and corporate site selection.
The Public Policy Institute tracks New York's job growth numbers by region and industry sector at www.ppinys.org/nyecon/stats.pdf. These statistics are updated monthly.