State officials offer some explanations: The Paterson administration wants to change the way New York businesses get tax breaks amid criticism that the Empire Zone program wastes public money without sufficient return in terms of economic growth.While tax credits are probably a necessary evil given that other states have similar programs, New York's problem with job creation isn't in its tax credit program . . . It is the way New York does business itself: too expensive, too complicated, too unpredictable.
For Excelsior, there are tax credits for targeted industries – high technology, biotechnology, clean technology, finance and manufacturing.
New York needs to start looking to its competition -- Texas, North Carolina, Tenesee, etc. -- and start bench-marking itself against those states. EG., How does the cost of transportation compare with Tennesee? You can cross TN on a free interstate, but New York charges a toll on its Thruway. That needs to change. Property taxes are probably less than half of ours in North Carolina -- How can New York change that? How does the cost of utilities compare? Why are our costs higher -- especially given our abundance of hydropower?
If New York would make itself only "average" we would be way ahead of where we are now.