Transforming New York's Economy

TOP Transforming New York's Economy

A State of Growth

Under Governor Cuomo’s leadership, New York’s economy is in a state of growth. Since 2011, the unemployment rate has declined in every region of the state, and New York now has 8 million private sector jobs, more than at any point in state history.

Governor Cuomo has restored fiscal discipline to state government, closing a $10 billion deficit in his first budget, and keeping state spending growth to less than 2% each year. Regional Economic Development Councils empower communities, leading to more investment in Upstate than any at other time in history. The Councils actively support tens of thousands of jobs across the State.

Property taxes are finally under control, keeping communities affordable for homeowners, renters and businesses. Every New Yorker now pays a lower tax rate than they did before the Governor took office.

Governor Cuomo also launched a $100 billion infrastructure plan to increase our competitiveness in the 21st century global economy.

New York State continues to stimulate growth across regional economies while remaining the globe's beacon of economic opportunity.

Investing in Infrastructure, Communities and Innovation

Investing in Infrastructure

To grow New York's competitiveness in the global economy, we are building today for a better tomorrow with a $100 billion infrastructure plan to build the new NY.

Economic and Community Revitalization

With a bottom-up and community-driven economic development approach, NYS is breathing new life into our Upstate cities and downtown urban districts. 

Reducing NY's Property Tax Burden

Property Tax Relief

June 26, 2015

Passed Property Tax Relief Credit

March 31, 2014

Passed $1.5B in Property Tax Cuts to Aid Homeowners and Find Local Governments Efficiencies

June 24, 2011

Passed Property Tax Cap

What's Next?

Shared Services Initiative: Engage with your local leaders to find ways to reduce the cost of local government.

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Growing Our Tourism and Agriculture Sectors

Taste NY

Governor Cuomo launched Taste NY to support the growth and vitality of NY's food & bevearge industry. In 2017, the program saw a $3 million increase in total gross sales over 2016.

The Empire State Trail

To drive economic growth and boost tourism, the State is developing 350 miles of new trail to create a 750-mile pathway for hiking and biking along scenic vistas and charming communities.

Modernizing the Great New York State Fair

As the State Fair is an economic driver for Central NY, and with attendance rising each year, Governor Cuomo has committed $120 million to transform and invigorate the fairgrounds.

Creating Jobs and Growth Opportunities Across the State

Broadband for All

High-speed internet is essential for connecting our communities and ensuring that all of New York can compete in the global economy. By 2018, every New Yorker will have access to Broadband.

NYS Film Tax Credit

Since 2011, the NYS Film Tax Credit has generated an estimated $15.3 billion in spending and approximately 966,854 new hires in New York State.

Legalizing Mixed Martial Arts

Governor Cuomo signed legislation in 2016 authorizing competitive mixed martial arts in New York State, projected to yield $137 million in economic activity.

Get involved

Text NEW YORK to 81336

Learn more about what the state is doing to grow the economy and create jobs.

News

Find additional information about New York's economic development projects and programs.