New York City is undergoing its largest and longest job expansion since World War II. More than 700,000 jobs have been added during the past eight years (a gain of nearly 19 percent), pushing employment to uncharted levels.
Credit cards are the most commonly used vehicle for consumer borrowing, and thus play an important role in both the overall economy and individual households’ finances.
New York is home to over 35,000 farms, covering approximately 7.3 million acres or nearly a quarter of the State’s total land area.
Job markets go through cycles of ups and downs. Further, within New York State, employment trends can be very different from one region to another. But, over the last ten years, at least one sector – health care – has established a consistent pattern of growth across the State.
From mom-and-pop corner stores to medical practices to computer software start-ups, small businesses play a vital role in New York’s economy.
Nonprofit organizations, large and small, provide a multitude of services throughout New York State. Many nonprofits deliver essential services on behalf of the State and other governmental entities, including health care, social welfare, care for the disabled, education and more.
The integral role of farming in New York State’s history, economy and quality of life is effectively enshrined in Article XIV of the State Constitution.
New York State imposes a "general sales tax" at a single rate on most goods and some services. Counties and cities can impose their own local sales tax in addition to the State rate. This report is an update to the Office of the State Comptroller’s March 2015 publication on local government sales taxes in New York State.
The report summarizes most recently completed data (fiscal year ending 2018) found in these annual reports. In addition to reviewing IDA data, the Office of the State Comptroller (OSC) provides training to IDA officials on various topics, including recent legislative reforms and how to improve their compliance with reporting requirements.
Sales tax revenue for local governments in the second quarter of 2020 totaled $3.3 billion, a decline of $1.2 billion compared to the same period last year.
