At the centre of the largest and richest consumer market in the world, New York is a pre-eminent hub for global commerce and technological innovation, and has always offered investors a competitive edge in entering the US market and global marketplace.

Essential to New York State’s success in investment attraction, retention and expansion of businesses of all sizes is a premier educational system; a highly productive, skilled and motivated workforce; unparalleled academic and research centres; innovative industries and technologies; support from proven economic development programmes with tailored incentives and a diversified economy. With Governor Andrew M. Cuomo’s leadership, New York ensures that it is welcoming and “open for business”.

New York is the UK’s premier investment partner with inward investment of $17.1 billion and associated employment of 82,500 in the state. There are myriad reasons why UK companies, such as BAE systems, Thompson Reuters Group, Serco and others, partner with NY State, but chief among them include cost-competitive locations, an aggressive marketing strategy for attracting new businesses and the Governor’s re-imagined approach to economic development.

The Governor has launched the Start Up New York programme, a groundbreaking initiative that will provide major incentives to attract venture capital, start-ups, new business and investments from across the nation and around the globe to New York by offering the opportunity to operate completely tax-free while also partnering with the world-class higher education institutions in the SUNY system.

Rankings clearly demonstrate the Empire State’s leadership in international investment attraction, retention and expansion.

New York State is:

• The 16th largest economy in the world
• The 2nd destination for foreign direct investment (FDI) after California. New York City remains the leader in attracting FDI headquarter operations (2011 Financial Times FDI Intelligence)
• No.3 in the nation for FDI employment based on 388,500 jobs created by internationally-owned affi liates in 2010
• Second in the nation in attracting international students, with 82,436 in 2011-12. New York State has over 300 colleges and universities, creating one of the world’s most extensive networks of academic institutions with over one million students enrolled in undergraduate and graduate programmes in NYS. More than 32 per cent of all adults have completed four or more years of college
• Home to more than 20,000 high-tech fi rms, including SEMATECH, General Electric, IBM, Tokyo Electron and the expanding GlobalFoundries Chip Fab and Technology Campus; home to 50 Fortune 500 companies; and home to over 50 business incubator facilities

Industry sectors with strong representations/strategic clusters in the State include:

• Agricultural & Food Processing
• Business & Professional Services
• Clean Technologies
• Communications & Media Services
• Distribution
• Fashion & Apparel
• Financial Services
• High-Tech Electronics & Software
• Industrial Machinery & Systems
• Insurance
• Life Sciences
• Materials Processing
• Nanotechnology
• Optics & Imaging
• Transportation Equipment

Governor Cuomo’s leadership in establishing the collaborative environment necessary to grow the nanotech industry, in particular, was key to a recent major FDI win – the Global 450 Consortium (Nanotech Development).

Five leading international companies – IBM, Intel, Samsung, GlobalFoundries and TSMC – are investing $4.4 billion (£2.7 billion) to create the next generation of computer chip technology in New York State. This historic investment marks an unprecedented level of private investment in the Nanotechnology sector in New York and will create and secure approximately 6900 jobs. New York State competed against Europe, Asia and the Middle East for the project and won, demonstrating the depth of the state’s strength in growing new economy industries as well as New York State’s position as a premier location for investment and job creation.

Let us assist you with financing, incentives and site selection to help your businesses compete in the global marketplace.