Category

Strengths (S)

Weaknesses (W)

Opportunities (O)

Threats (T)

Ease of Doing Business

Global Access & Talent: World-class financial and cultural capital with unparalleled access to global markets and superior talent (finance/tech). Major Economic Center: Third-largest state economy in the US (over $2.2 trillion GDP).

High Cost of Operation: Extremely low ranking nationally for the ease of doing business in cities like New York City (Rank 74) due to high taxes, high cost of living, and high wages.

Leverage Global Hub Status: Offer targeted incentives that capitalize on its unique global connectivity (e.g., streamlined processes for international financial services).

Regulatory Burden: Companies cite a "painful environment" due to a maze of over 300,000 regulations and a high volume of new state legislation, driving businesses to other states.

Domestic Manufacturing

Niche/High-Value Sectors: Maintains a presence in high-value, specialized manufacturing (e.g., aerospace, pharmaceuticals) and emerging high-tech sectors.

Volatile Activity: Manufacturing activity remains modestly weak/volatile, with the NY Empire State Manufacturing Index fluctuating in the negative in Q3 2025, indicating declining new orders and shipments.

"Made in NY" Clean Tech: Focus on advanced manufacturing related to clean energy (e.g., offshore wind components, utility-scale battery storage) to create a new economic sector.

Exit/Contraction Risk: Low business owner optimism and sentiment suggest many businesses are looking to expand outside of NY, risking job and investment contraction in the sector.

Sustainability Initiatives

Aggressive Mandates: Committed to the CLCPA goal of 70% renewable electricity by 2030 and 100% clean energy by 2040. Massive Pipeline: 102 large-scale solar, wind, and hydro projects are operating or under development, securing 9.7 GW of clean power.

High Upfront Costs: Implementing economy-wide programs like the Cap-and-Invest and the NY HEAT Act for fossil fuel phase-out creates significant cost pressure on businesses and ratepayers.

Green Jobs and Investment: New solicitations for large-scale renewables are expected to unlock billions in private investment and create thousands of family-sustaining jobs.

Federal Policy Shifts: Federal funding cuts (e.g., nearly half a billion dollars in Q4 2025) directly threaten clean energy projects, putting 1,000+ jobs at risk and slowing the state's progress.

Balance of Trade

Services Export Leader: A dominant global exporter of financial, legal, and intellectual property services (part of the overall US services trade surplus). Import Gatekeeper: A primary port of entry for global goods, giving it a crucial role in the US import supply chain.

Indirect Exposure: The high concentration of finance and service industries makes the economy highly sensitive to global financial market volatility and international economic downturns.

Digital Trade Expansion: Leveraging its tech and financial capital to expand cross-border digital trade and data services.

Global Trade Tensions: Despite not being a goods-heavy exporter, rising US protectionism (tariffs) and subsequent global retaliation create uncertainty that negatively affects global investment and financial transactions processed in NY.