NEW YORK, NY – New York is one of the hardest states to do business in. If you think Donald Trump is having some issues with his, countless other businesses struggle with red tape, regulation, and high taxes.
But that hasn’t stopped many businesses from establishing operations here under President Joe Biden.
Dozens of corporations have established new operations in New York state with the help of generous subsidies from the state and President Joe Biden’s signature laws despite the state’s unfriendly business environment.
The Biden administration takes credit for attracting billions of private sector dollars to establish dozens of new manufacturing factories and projects in New York with the CHIPS Act, the 2021 bipartisan infrastructure law and the Inflation Reduction Act (IRA), President Joe Biden’s signature climate law. The subsidies and incentives unleashed by those laws, as well as assistance provided by New York, are overpowering the state’s poor business climate, at least for now, according to economists who spoke with the Daily Caller News Foundation.
The Biden administration’s domestic agenda has played a leading role in bringing a combined $95 billion of private sector investment into manufacturing goods like semiconductor chips, electric vehicles (EVs), EV batteries, green energy technology and more, according to Invest.gov, a government website that tracks spending from Biden’s major laws. Companies have announced plans to build more than 60 manufacturing facilities in the state.
Shark Tank’s Kevin O’Leary Says He Will ‘Never’ Invest In ‘Mega-Loser State’ After Trump Rulinghttps://t.co/E7nJ0bqbjY
— Daily Caller (@DailyCaller) February 19, 2024
“Subsidies make taxpayers worse off because that subsidy money has to come from somewhere—the taxpayers. That money could have had other uses,” Ryan Young, a senior economist for the Competitive Enterprise Institute, told the DCNF. “People who agree with Biden’s economic policies are more likely to ask for handouts than are skeptics. New York’s Democratic tilt means that it will naturally have more such supporters applying for grants. That selection bias, plus a large population, means that it makes sense for New York to have a lot of subsidized projects. Many of them will be counterproductive because subsidies make companies uncompetitive and dependent on government, and are vulnerable to cronyism. But the math makes political sense.”
New York also has unfavorable tax and permitting rules that make it less hospitable to businesses than other states, Young added.
The Tax Foundation ranked New York second-to-last of all states in terms of its corporate tax environment in its 2024 State Business Tax Climate Index. The state has the highest overall tax burden of any state in the U.S. and the worst business climate of every state other than one, according to the Heritage Foundation.
The exodus of businesses from New York state accelerated during the pandemic, with more than 5,000 businesses departing Manhattan alone between 2020 and 2021, according to the Heritage Foundation. However, fleeing businesses are a longer term trend in the state, which has endured overall losses of businesses to other states every year from 1994 to 2023.
Despite its high taxes, the state is set to have a budget deficit of at least $4 billion in fiscal year 2025, according to City Journal. The state had the highest amount of state and local debt per capita of any other state in the country in 2021 despite collecting $118 billion in tax revenues, according to the Heritage Foundation.
Additionally, industrial and commercial electricity in New York is relatively expensive compared to the rest of the country and some other states in the region. Commercial electricity costs considerably more in New York than in neighboring states like Pennsylvania and New Jersey, while rates for industrial electricity are higher than those seen in the Southeast and numerous other states, though New York’s prices are not exceptionally high relative to the rest of the U.S. overall, according to data from the U.S. Energy Information Administration.
“You’re looking at the danger of giving painkillers to somebody who needs an appendectomy,” Ken Girardin, director of research at the New York-focused Empire Center, told the DCNF about the infusion of subsidized investment into the state. “When the feds start sprinkling cash, and saying everything’s okay, that distracts away from pretty serious pre-existing conditions that are holding back growth … Maybe the businesses are doing deals because the numbers work for that. The place where the numbers aren’t working are for the general public.”
Ribbon-cuttings and new subsidized investments do not address the underlying, fundamental issues with the business environment in the state, Girardin added.
Marc Joffe, a policy analyst at the libertarian Cato Institute, conveyed a similar interpretation of New York’s business environment in light of the investment pouring into the state with the help of Biden’s laws.
“On the one hand, they offer all these subsidies, but on the other hand, there’s a lot of taxes and regulation, and that just makes it hard to win,” Marc Joffe, a policy analyst at the libertarian Cato Institute, told the DCNF. “Ultimately, places like New York have political leaders who are very hostile to business, and especially big business. And so, if the company does very well and becomes very profitable from the operations it has in the state, it can get into the crosshairs of progressive politicians who don’t like that.”
New York City, Albany and Rochester have highly-educated workforces that may make the state more attractive to companies despite the business environment, and cheaper land in economically depressed regions also provides an opportunity for enterprises thinking about New York as an operations site, Joffe added.
The office of Democratic New York Gov. Kathy Hochul and the White House did not respond to requests for comment.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
- New Jersey Weather Warning: Overnight Thunderstorms and Heavy Rainfall
Today in New Jersey, there is a 30% chance of showers and thunderstorms, primarily occurring after 5 PM. The weather will be mostly sunny with a high temperature near 89 degrees Fahrenheit. Winds will come from the southwest at 10 to 15 mph. Rainfall today could vary between a quarter and a half inch.
Tonight, the likelihood of precipitation increases to 80%. Showers and thunderstorms are expected before 1 AM, with possible continued thunderstorms between 1 AM and 2 AM, and chances of more showers and thunderstorms thereafter.
The temperature will drop to around 62 degrees, with winds shifting from the west to northeast around 5 mph in the evening. Tonight's rainfall may total between half an inch and three quarters of an inch.
- A Tribute to Bruce Springsteen’s E-Street Band Live on the Beach in Toms River
TOMS RIVER, NJ – Shelter Cove Beach in Toms River, New Jersey, is the place to be for family-friendly entertainment this summer. Toms River Township Government, in collaboration with Tramps Like Us, has announced a series of free concerts and movie screenings open to the public.
On June 26th, at 7pm the Springsteen tribute band will perform on stage.
These community events will be held at the Shelter Cove Beach Stage, located at 1390 Bay Ave. Each event starts at 7 PM and welcomes attendees of all ages. Those planning to attend are advised to bring their own chairs and blankets, along with food and snacks. Attendees are also encouraged to bring a garbage bag to help keep the beach clean.
Tramps Like Us, celebrated as the leading Bruce Springsteen Tribute band, brings over three decades of experience to the stage. With the unique honor of endorsements from Springsteen’s own camp, including his former producer Mike Appel and E Street Radio on Sirius XM, the band has captivated over a million fans through more than 2000 live performances.
The band focuses on delivering Springsteen's music with the powerful emotion and raw intensity that fans expect, rather than mimicking the artist in appearance or style. This approach has earned them the title of the #1 Springsteen Tribute Band in the World by "Music & Musicians" magazine.
- Man Stabbed To Death Overnight in Brooklyn
BRONX, NY – On Thursday evening, a stabbing incident in front of 1420 Washington Avenue left a 29-year-old male dead. Police were called to the scene at approximately 9:42 PM following a 911 report of the stabbing within the 42 Precinct area.
Upon their arrival, officers discovered Nelquan Lilly with multiple stab wounds to his torso. Emergency medical services promptly transported Lilly to Saint Barnabas Hospital, where he was later pronounced deceased.
Lilly resided at the address where the incident occurred. As of now, no arrests have been made in connection with his death. The investigation into the stabbing is still active and ongoing.
- Chaos at Nassau County Beach: Senior Skip Day Turns Violent with Shots Fired
LONG BEACH, NY - A day of revelry turned violent at a Nassau County beach in Long Beach, Long Island, when approximately 2,000 teenagers, reportedly skipping school for "senior skip day," descended on the area. The gathering, which included students from nearby high schools in Queens, escalated into chaos.
The event was marked by fighting, dancing on police vehicles, and the eventual shooting of a teenager. Hundreds of teens also took over a lifeguard stand, contributing to the disorder.
According to police reports, the turmoil led to the arrest of two teens in connection with the shooting.
The condition of the shooting victim remains unknown as local authorities continue to investigate the incident. This disruption highlights the potential for gatherings to turn unsafe suddenly and the challenges faced by law enforcement in managing large, unruly groups.
- How New Jersey’s Sanctuary State Laws Are Incentivizing Illegal Immigration Nationwide
TRENTON, NJ - New Jersey Assemblyman Paul Kanitra has criticized state immigration policies, which he claims are contributing to a surge in illegal immigration and exploiting vulnerable populations. During a recent trip to the Texas border, Kanitra observed firsthand the conditions and dynamics of illegal crossings, prompting a deeper investigation into New Jersey's role in this complex issue.
"Last week at the Mexican border, I saw the reality of how New Jersey's Sanctuary State policies are directly fueling the illegal immigration crisis in our country," Kanitra stated, highlighting the extensive journey many undertake in hopes of benefiting from state policies. His findings estimate that nearly 819,400 illegal immigrants currently reside in New Jersey, equating to about one in every ten residents, with a significant number living in "absolutely deplorable conditions."
Kanitra argues that the state's policies, particularly those promising sanctuary and various taxpayer-funded benefits, create incentives for illegal immigration. "Our actions here in New Jersey are incentivizing and encouraging people worldwide to break our laws and access the taxpayer-funded benefits we're providing," he explained. According to his research, the average illegal immigrant in New Jersey receives over $8,000 a year in benefits, costing legal households approximately $2,100 annually.
The assemblyman's comprehensive report proposes several reforms aimed at addressing these issues, including enhancing law enforcement cooperation with federal authorities and revising benefit allocations to discourage illegal immigration. "The solution to all of this, how we end this crisis, involves common sense recommendations that will save billions in our budget, reunite families, and stop exploitation in its tracks," Kanitra concluded.
These statements and proposals aim to spark further discussion and potential policy adjustments regarding New Jersey's approach to immigration and its broader impacts on both the state and national levels.
In a recent video, NJ Assemblyman Paul Kanitra sheds light on the impact of New Jersey's policies on illegal immigration during his 2,000-mile trip to Eagle Pass and Del Rio, Texas. The video, which has garnered attention since its release on May 7, 2024, delves into various aspects of how state policies might be worsening the situation.
Key Points Addressed in the Video:
- Crossing Dynamics: The video starts by illustrating the crossing from Piedras Negras, Mexico into the U.S., setting the stage for a broader discussion on immigration patterns to New Jersey.
- Surge in Illegal Immigration: Kanitra discusses the noticeable increase in illegal immigrants heading towards New Jersey, suggesting that specific state policies might be attracting more illegal entries.
- Policy Impact: The assemblyman argues that New Jersey's policies are exacerbating illegal immigration issues. He highlights Governor Murphy's commitment to maintaining New Jersey as a sanctuary state, which could potentially be seen as an inviting factor for illegal immigrants.
- Process and Funding Concerns: The video critiques the fast-track processing of immigrants in New Jersey and alleges that state funds are being indirectly used to facilitate illegal border crossings.
- Covert Operations: Kanitra touches on what he describes as covert connections that may be facilitating the movement of illegal immigrants into New Jersey.
- Solutions and Measures: The latter part of the video focuses on possible measures and policies that could address the illegal immigration crisis more effectively in New Jersey.
- Not Everything in the New York City Subway System Is Bad
The New York City Subway system, while an indispensable part of daily life for millions, poses various dangers to its passengers. Crime rates in the subway have been a significant concern, with incidents ranging from petty thefts to more serious assaults. The enclosed environment of the subway, combined with its vast and often complex network, can provide criminals with opportunities to target unsuspecting riders. Additionally, the sheer volume of people using the system can make it difficult for security measures to be effectively implemented.
Safety concerns in the subway also extend to the physical infrastructure. The aging system suffers from outdated technology and deteriorating hardware, which can lead to accidents and malfunctions. Track fires, sudden stops, and derailments occasionally occur, posing risks to physical safety. Furthermore, the lack of proper maintenance in some parts of the subway has led to unsanitary conditions, which can be a health hazard, particularly in the times of a public health crisis.
The mental well-being of passengers can also be adversely affected by the often stressful environment of the NYC subway. The hustle and the bustle, the noise, and the sometimes overwhelming crowds can lead to significant stress and anxiety. For those unfamiliar with the system, the complexity of routes and the lack of clear signage can also contribute to a sense of confusion and helplessness, further exacerbating the stressful experience.
Despite these challenges, the New York City Subway system is not devoid of positive aspects. Amidst the backdrop of daily commutes, there are moments of kindness and humanity that shine through. Passengers often come together to help one another—be it giving up a seat, helping tourists navigate the map, or coming to the aid of someone in distress. These acts of kindness remind us that even in an environment that can sometimes seem harsh and unforgiving, there is a strong sense of community and resilience among New Yorkers.
The New York City subway serves as a mobile stage for a variety of street performers, turning routine commutes into unexpected showcases of talent and creativity. From breakdancers executing gravity-defying moves in the confines of a moving train to magicians who mesmerize audiences with sleight-of-hand tricks, the subway platforms and cars become arenas for performers who are as diverse as the city itself. These entertainers, often known as "buskers," seek to earn a living and showcase their skills to a captive audience, turning the daily grind into a more joyful experience for many commuters.
Among these performers, one might encounter musicians strumming guitars, playing violins, or beating drums, adding a soundtrack to the rhythmic clatter of the trains. Occasionally, more unusual acts appear, such as clowns, contortionists, or even opera singers, each adding their unique flavor to the cultural melting pot of New York City's underground. These performances not only provide entertainment but also reflect the vibrant and eclectic spirit of the city, making the mundane journey of subway travel a little brighter and more unexpected.
On a bustling NYC subway train, a touching scene unfolded between a white man and a young black boy. As the man was engaged with his iPhone, he noticed the curious gaze of the boy peering over his shoulder. In a spontaneous act of kindness, the man shared his phone with the boy, allowing him to watch along. This simple yet heartwarming gesture not only brightened the boy's journey but also served as a beautiful example of the small acts of kindness that connect us in the most unlikely places.
In the heart of New York City, on a brisk Thanksgiving evening, an unusual yet heartwarming sight emerged aboard a bustling subway train. Instead of the usual sea of headphones and downcast eyes, passengers were greeted by a fully set table, adorned with all the traditional Thanksgiving fixings. A long tablecloth draped over the makeshift table, with plates piled high with turkey, stuffing, cranberry sauce, and mashed potatoes.