51 New York Business Stats & Facts For 2025

Here are 51 business stats about New York for 2025.

Basics:

Population: 19,571,216 (US Census 2020)
Population desnity per square mile: 428.70
GDP: $2,152,262 (millions USD)
GDP Per Capita: $110,781
Median household income (in 2022 dollars): $81,386
Real GDP Growth Rate: 0.70%
Total Employment: 11.5m
Unemployment Rate: 3.9%

Rankings

% Share of National Economy: 7.86%
State Economic Growth Rank (out of 50): 3
Population Growth Rank (out of 50): 41
Business Growth Rank (out of 50): 25
State Growth Rank in Employment (out of 50): 39

Biggest Industries In New York By Revenue

1. Commercial Banking: $228.0b
2. Portfolio Management & Investment Advice: $154.8b
3. Public Schools: $111.7b
4. Hospitals: $110.5b
5. Life Insurance & Annuities: $103.6b
6. Search Engines: $89.0b
7. Colleges & Universities: $82.2b
8. Health & Medical Insurance: $82.1b
9. Open-End Investment Funds: $82.1b
10. Private Equity, Hedge Funds & Investment Vehicles: $70.4b

Biggest Employers In New York

1. City Of New York: 332,511 (2.9%)
2. New York City Department of Education: 135,000 (1.2%)
3. State University of New York: 90,000 (0.8%)
4. Northwell Health: 79,000 (0.7%)
5. Metropolitan Transportation Authority: 75,000 (0.7%)
6. Amazon.Com: 41,000 (0.4%)
7. New York City Health and Hospitals Corporation: 40,000 (0.3%)
8. Walmart Inc.: 38,261 (0.3%)
9. Jpmorgan Chase & Co.: 28,000 (0.2%)
10. Wegmans Food Markets Inc.: 23,376 (0.2%)

Small Businesses In New York

Number of Small Businesses 2,200,000
Percent of bossiness that are small businesses: 99.80%
Number of employees: 4,100,000
Share of Employment: 47.10%
Number of New Businesses In The Past Year: 78,100
Number of Businesses That Closed In The Past Year: 54,285
Net Change In New Businesses: 23,815

Number of Businesses With No Employees: 1,755,995
Number of Businesses with 1-19 Employees: 408,479
Number of Businesses with 20-499 Employees: 43,239
Share of Businesses Owned By Women: 39.60%
Share of Businesses Owned By Veterans: 3.30%
Share of Hispanic Owned Businesses: 13.40%
Share of Businesses Owned By Racial Minorities: 27.30%

Fortune 500 Companies In New York

Number of Fortune 500 Headquaters: 50
Biggest Company: JPMorgan Chase
Biggest Company Type: Commercial Banks
Number of Employees: 293,723
Revenue (in millions): $154,792

Taxes In New York

State Corporate Tax Rate:

• 6.50%
• 7.25%

State Corporate Tax Rate Brackets:

• $0
• $5,000,000

State Sales Tax Rate: 4.00%
State Sales Tax Rank (out of 50): 40
Average Local Sales Tax Rate: 4.53%
Max Local Sales Tax Rate: 4.88%
Average Combined Sales Tax Rate: 8.53%
Combined Sales Tax Rank (out of 50): 10

Minimum State Income Tax Rate If You’re Single: 4.00%
Minimum State Income Tax Rate If You’re Married: 4.00%

General New York Population Facts

In civilian labor force, total, percent of population age 16 years+: 62.80%
In civilian labor force, female, percent of population age 16 years+: 58.80%
Share of population which is foreign born: 22.60%
Mean travel time to work (minutes), workers age 16 years+: 33.2

Housing

Number of Housing Units: 8,631,525
Owner-occupied housing unit rate: 54.30%
Median value of owner-occupied housing units: $384,100
Median gross rent per month: $1,507
Households with a computer: 93.10%
Households with a broadband Internet subscription: 88.20%

Education

High school graduate or higher, percent of persons age 25 years+: 87.60%
Bachelor’s degree or higher, percent of persons age 25 years+: 38.80%

Also See

• New York Registered Agent Services
• New York Secretary of State Business Search
• How To Form an LLC In New York
• New York Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_New_York_(state)
• https://www.ibisworld.com/united-states/economic-profiles/new-york/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-NY.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/northeast/new_york.htm#eag
• https://www.census.gov/quickfacts/fact/table/NY,US/PST045223
• https://www.50pros.com/fortune500