Economy of New York (state)
Statistics | |
---|---|
GDP | $2.1 trillion (2022)[1] |
GDP per capita | $104,343 (2022)[2] |
Population below poverty line | 13.6%[3] |
0.502[4] | |
Labour force | 9,645,984 (2023)[5] |
Unemployment | 4.1% (March 2023)[6] |
Public finances | |
Revenues | $63.5 billion[7] |
Expenses | $54.6 billion[8] |
The economy of the State of New York is reflected in its
The state has a large
New York City
Long Island
Long Island has played a prominent role in
Agriculture
The Erie Canal, completed in 1825, opened eastern U.S markets to Midwest farm products. The canal also contributed to the growth of New York City, helped create large cities, and encouraged immigration to the state. Except in the mountain regions, the areas between cities are agriculturally rich. The Finger Lakes region has orchards producing apples, which are one of New York's leading crops.[21] The state is known for wines produced at vineyards in the Finger Lakes region and Long Island. The state also produces other crops, especially grapes, strawberries, cherries, pears, onions, and potatoes. New York is a major supplier of maple syrup and is the third leading producer of dairy goods in the United States.[22]
According to the Department of Agriculture and Markets, New York's agricultural production returned more than $3.6 billion to the farm economy in 2005. 36,000 farms occupy 7.6 million acres or about 25 percent of the state's land area, to produce a variety of food products.[22] Here are some of the items in which New York ranks high nationally:
New York is an agricultural leader and is one of the top five states for agricultural products, including dairy, cattle, apples, cabbages, potatoes, beets, viticulture, onions, maple syrup and many others.[23] The state is the second largest producer of cabbage in the U.S.[22] The state has about a quarter of its land in farms and produced $3.4 billion in agricultural products in 2001. The south shore of Lake Ontario provides the right mix of soils and microclimate for apple, cherry, plum, pear and peach orchards. Apples are also grown in the Hudson Valley and near Lake Champlain. The south shore of Lake Erie and the southern Finger Lakes hillsides have vineyards. New York is the nation's third-largest grape-producing state, after California and Washington.[22]
Energy
In 2017, New York State consumed 156,370-
Solar power
This article needs to be updated.(September 2022) |
In 2012,
In 2023, the New York State Energy Research and Development Authority approved 14 new large-scale solar projects, totaling more than 1 gigawatt of capacity.[34]
According to the Solar Energy Industries Association (SEIA) in 2023, New York has a solar capacity of 5,560 MW, ranking third nationally in solar jobs with 11,512 positions. The state aims to expand its capacity by 8,923 MW over the next five years. Solar power in New York now supplies electricity to 980,034 homes, accounting for 5.01% of the state's total electricity. With a solar market valued at $11.7 billion and $1.9 billion invested in 2023, solar costs in New York have decreased by 47% in the last decade.[35]Wind power
See also
- Economy of Long Island
- Economy of New York City
- Economy of the United States
- New York State Department of Financial Services
- New York State Department of Labor
References
- ^ "GDP by State". GDP by State | U.S. Bureau of Economic Analysis (BEA). Bureau of Economic Analysis. Retrieved April 10, 2022.
- ^ "New Vintage 2021 Population Estimates Available for the Nation, States and Puerto Rico". New Vintage 2021 Population Estimates Available for the Nation, States and Puerto Rico. United States Census Bureau. December 21, 2021. Retrieved April 10, 2022.
- ^ "State Rankings--Statistical Abstract of the United States--Persons Below Poverty Level". Archived from the original on August 17, 2011. Retrieved December 10, 2017.
- ^ "U.S. Census website". United States Census Bureau. Retrieved October 10, 2011.
- ^ Civilian Labor Force in New York
- ^ "Unemployment Rates for States".
- ^ "Archived copy". Archived from the original on December 11, 2011. Retrieved December 10, 2017.
{{cite web}}
: CS1 maint: archived copy as title (link) - ^ "Archived copy". Archived from the original on August 23, 2011. Retrieved October 10, 2011.
{{cite web}}
: CS1 maint: archived copy as title (link) - ^ "GLOBALFOUNDRIES Moves Corporate Headquarters to its Most Advanced Semiconductor Manufacturing Facility in New York | GlobalFoundries". globalfoundries.com. April 26, 2021. Retrieved May 19, 2021.
- ^ Iman Ghosh (September 24, 2020). "This 3D map shows the U.S. cities with the highest economic output". World Economic Forum. Retrieved March 5, 2023.
The New York metro area dwarfs all other cities for economic output by a large margin.
- ^ a b "The Global Financial Centres Index 35". Long Finance. March 21, 2024. Retrieved March 23, 2024.
- ^ Laura Bratton (September 28, 2023). "Sorry, London — New York Is Still the Financial Capital of the World". The Messenger. Archived from the original on October 11, 2023. Retrieved March 23, 2024.
The GDP of the New York City metropolitan area is larger than the country of South Korea...New York City was ranked as the most competitive city in the financial industry for the fifth straight year.
- ^ "Top 8 Cities by GDP: China vs. The U.S." Business Insider. July 31, 2011. Retrieved July 29, 2014.
- ^ "UBS may move US investment bank to NYC". e-Eighteen.com Ltd. June 10, 2011. Retrieved July 29, 2014.
- ^ Richard Florida (May 8, 2012). "What Is the World's Most Economically Powerful City?". The Atlantic Monthly Group. Retrieved July 29, 2014.
- ^ a b Andrew Nelson. "Top CBDs See Solid Growth in 2nd Quarter, US - Canada Performance Diverges" (PDF). Colliers International. Retrieved February 14, 2016.
- ^ "Understanding The Manhattan Office Space Market". Officespaceseeker.com. Archived from the original on July 13, 2014. Retrieved July 20, 2014.
- ^ "Marketbeat United States CBD Office Report 2Q11" (PDF). Cushman & Wakefield, Inc. Archived from the original (PDF) on May 8, 2013. Retrieved July 20, 2014.
- ^ Eisenpress, Cara (April 28, 2023). "New York is closer than ever to beating the Bay Area on tech". Crain Communications. Retrieved June 19, 2023.
- ^ "Nobel Prizes at BNL". Bnl.gov. Retrieved July 25, 2012.
- ^ Gelman, Amy. "PEOPLE & ECONOMY: America's Melting Pot." New York (0-8225-4057-6) (2002): 42-53. Book Collection: Nonfiction. Academic Search Complete. Web. 17 Feb. 2016.
- ^ a b c d New York Agriculture Statistic Services. New York Agricultural Statistics 2004-2005 Annual Bulletin. Albany, New York: State of New York Department of Agriculture and Markets, 2004. Web. 19 Feb. 2016.
- ^ "New York." Funk & Wagnalls New World Encyclopedia (2015): 1p. 1. Funk & Wagnalls New World Encyclopedia. Academic Search Complete. Web. 19 Feb. 2016.
- ^ "NYISO 2018 Gold Book (pdf)" (PDF). www.nyiso.com. p. 13. Archived from the original (PDF) on November 1, 2018. Retrieved November 26, 2018.
- ^ "2018 Power Trends" (PDF). www.nyiso.com. April 2018. pp. 11, 12, 14. Archived from the original (PDF) on November 30, 2018. Retrieved November 29, 2018.
- ^ Chen, Jie; LeeVanSchaick, Pallas; Naga, Raghu Palavadi; Patton, David B. (May 2018). "2017 State of the Market Report" (PDF). www.potomaceconomics.com. pp. ii, 3, A-2, A-6. Retrieved November 30, 2018.
- ^ Final Report of the NYS RPS Annual Performance Report through December 31, 2015
- ^ "Governor Cuomo Announces Formal Request for New York Exclusion from Federal Offshore Drilling Program". Governor Andrew M. Cuomo. March 9, 2018. Retrieved May 24, 2018.
- ^ LIPA FIT Archived 2012-10-20 at the Wayback Machine
- ^ New Jersey SRECs
- ^ NY SREC market put on hold
- ^ Feed-in tariff proposal
- ^ Questions as LIPA fails to use Edge program
- ^ "Governor Hochul Announces Nation's Largest-Ever State Investment in Renewable Energy is Moving Forward in New York | Governor Kathy Hochul". www.governor.ny.gov. Retrieved October 24, 2023.
- ^ "State Solar Spotlight New York" (PDF). Solar Energy Industries Association. December 2023.
- ^ "WINDExchange: Wind Energy in New York". windexchange.energy.gov. Retrieved October 30, 2022.
- ^ "2022 Solicitation". NYSERDA. Retrieved October 30, 2022.