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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (530887)	11/22/2009 3:39:14 PM
From: tejek	Read Replies (2) \| Respond to of 1575887

However much of the industry in upstate NY was highly profitable........GE, Carrier, Eastman Kodak, Xerox, Bausch Lomb, etc. I think most of the problem is that the cities of upstate NY did not remain competitive......not just from a tax and regulatory POV but in terms of lifestyle. The winter weather is crummy... The weather hasn't changed. The state tax and regulatory burden has, which not only reduces the profitability of the companies, it also makes it harder for the localities to fund their own local improvements of the sort you talk about. You have a point with taxes but they are just one of several metrics industry considers when locating in a state. Here's a chart giving the latest tax rankings by state for all taxes paid: ppinys.org As you might expect, overall NY does rank poorly when it come to taxes even as its corporate tax rate is a relatively light 22nd out of 50. However, does its tax status of 49th fully explain its lost of industrial might? Afterall, NC is ranked a lowly 39th and is booming. MN, Nebraska and Iowa are ranked 41st, 42nd and 44th respectively, but are doing well economically. Meanwhile WA state is ranked 12th but just lost Boeing's second plane assembly line to SC which is ranked 25th. Tim, there are many reasons why states are doing well or not. Its not just dependent on taxes......or their regulatory burden. After all, the regulatory burden in NY state can be no worse than the burden in WA state, OR, Utah or CO which are all very enivironmentally conscious but also are doing well economically. In fact, I don't think regulatory burden or taxes play as big a role as you think. In any case, I still contend that corruption coupled with not remaining competitive and bad weather are the main problems causing upstate NY cities to lose population and industry. Z is back so he might weigh in with his views if he sees this post......he used to live in upstate NY.