DOING BUSINESS IN NEW YORK

Empire State Development
518-292-5200
industries@esd.ny.gov
esd.ny.gov

DOING BUSINESS IN NEW YORK
“Fueled by cutting-edge research, advanced technology, and strategic investments in high-growth industries, New York is the heart of American innovation. With our forward-thinking leadership, and a commitment to workforce development and sustainability, New York is where jobs are created, careers are launched, and businesses are built.”
— Hope Knight, President, CEO and Commissioner,
Empire State Development
Doing business in New York
The New York City, NY skyline. (Photo: Adobe Stock / THANANIT)

TARGETED GROWTH SECTORS 

In New York State, the future is already here – fueled by the talent and resources that are critical for a variety of industries, including agribusiness, biotech and life sciences, cleantech and renewable energy, craft beverage, digital game development, distribution, fintech and insurance, cybersecurity, industrial machinery and systems, advanced materials, optics, photonics and imaging, software and digital media, semiconductor, electronics and transportation equipment.

TOP PROJECTS

COMPANY
LOCATION
INVESTMENT
GlobalFoundries
Malta
$11.6 billion
Wells (Ferrero Rocher)
Dunkirk
$425 million
Regeneron
Suffern
$138 million
TTM Technologies
East Syracuse
$117 million
Niacet
Niagara Falls
$50 million

 FEATURED LOCATIONS

Greater Rochester, NY is one of the most productive regions, ranking among the top five major metros for STEM degrees and patents. Companies benefit from Rochester’s leading-edge innovation, talent, R&D resources, strategic location, and low cost of doing business.

FAST FACTS

Population (2023 est.): 19,571,216¹
Largest Cities (2023): New York City (8,258,035); Buffalo (274,678); Yonkers (207,657); Rochester (207,274); Syracuse (145,560)¹
Real GDP (2023): $1.6 trillion²

¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce

JOB & SITE DEVELOPMENT

NYS Green CHIPS Program: Up to $10 billion in economic incentives for environmentally friendly “green CHIPS” semiconductor manufacturing and supply chain projects.

ON-RAMP (One Network for Regional Advanced Manufacturing Partnerships): $200 million to develop four workforce development centers in high-impact upstate New York locations for high-growth advanced manufacturing companies to develop training programs and find talent.

TOP BUSINESS FACILITIES RANKINGS

#2 Foreign Direct Investment2024 State Rankings
#3 Food Processing2024 State Rankings
Top 3 Semiconductors2024 State Rankings
Top 5 AI Growth Hubs2024 State Rankings
Top 5 Cyber Security2024 State Rankings
Top 10 Medtech/Medical Devices2024 State Rankings
Top 10 Life Science Leaders2024 State Rankings
#3 Top Container Ports (by TEUs): Port of New York & New Jersey2024 Metro Rankings
Top 10 AI Growth Hubs: Albany2024 Metro Rankings
Top 10 Food Processing: Rochester2024 Metro Rankings
From the July / August 2024 issue of Business Facilities

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