PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

“Good Riddance.” Not a New Message for New York’s Small Businesses

By at 1 November, 2019, 5:09 pm

NEWS

FOR IMMEDIATE RELEASE

Washington, D.C. – Upon receiving news that President Donald Trump will make Florida his official state of residence, New York Governor Andrew Cuomo tweeted and said “Good Riddance.” According to Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan, that general message is not a new one for New York’s small businesses and many other residents, as costly policies and an arrogant mindset among big government politicians are deeply hurting the state’s environment for operating a business or attracting new businesses.

New York ranks near the bottom (#47) on SBE Council’s “Small Business Policy Index 2019.”

“New York is hemorrhaging people, businesses, wealth and opportunity. Whether it’s Donald Trump, the local manufacturer, or corner small business owner, there’s a reason why more people are leaving New York than any other state. And it’s not the weather.  High taxes, an imposing regulatory bureaucracy, and the constant threat of mandates and government intrusions make it very difficult to live, work, invest, or operate a business in New York,” said SBE Council president & CEO Karen Kerrigan.

According to the Census Bureau, more people are leaving New York than any other state. At one point Governor Cuomo blamed the weather, which Kerrigan said was a silly excuse.

“It’s not Mother Nature but the policy climate that’s driving people out of New York. High taxes and other government burdens are unbearable for many residents and small business owners, and there always seems to be another anti-business proposal or initiative in the pipeline,” said Kerrigan

From 2010 to 2017, New York lost 1.02 million people net to other states (change in population less births, death and international migration). No other state was even close to hemorrhaging that many people. New York lost 847,000 people net to other states. These losses came after losing 1.7 million to other states from 2000 to 2009, and 1.9 million from 1990 to 1999.

“The best states for business – like Texas and Florida, for example – are continuously working to improve their business environment. Yes, they have no income tax, but as states such as Indiana and Ohio have shown – which ranked mediocre to poor when we first started publishing our Small Business Policy Index over 20 years ago – elected officials who understand what it takes to compete for business, investment and people also understand the benefit of creating a favorable policy environment that attracts all three. Governor Cuomo has not embraced that thinking yet,” concluded Kerrigan

Related SBE Council Content:

New York – The Weather? It’s the Policy Climate Driving People Away, October 2018.

On Taxes, New York is Very Bad and NYC is Even Worse, August 2019.

New York’s Policy Climate Wipes Out Other Positive Benefits, May 2018.

 

Contact:

Karen Kerrigan, SBE Council president & CEO

e-mail: kkerrigan@sbecouncil.org

SBE Council is nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For 25 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth. Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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