A new report backed by hundreds of business leaders says New York State is in “economic freefall” — and it’s getting worse under one-party control.
The Blueprint for New York report, released last week by the New York State Economic Development Council and The Business Council of New York, outlines deep concerns about high costs, overregulation, and sluggish job growth that leaders say are driving businesses — and people — out of the state.
State Senator Tom O’Mara highlighted the report in his weekly column, calling it “a wake-up call and a call to action” ahead of the next legislative session.
“Rather than being treated as a partner or lifted up by government, businesses feel dragged down by high costs and excessive regulation,” the report says.
The findings come after statewide forums with more than 500 business leaders and 40 associations. Local industries from the Southern Tier and Finger Lakes were among those who weighed in.
7 years of spending, little to show for it
According to the report, state spending has jumped more than $90 billion — a 55% increase — since Democrats took full control of state government in 2018. Business leaders say that’s led to more taxes, more mandates, and more red tape.
“At over 300,000 regulations containing more than 17 million words, no wonder it is impossible for firms in New York to keep up,” the report states.
It also cites troubling comparisons. While jobs in New York grew just 7.3% over the past decade, the national rate was 12%. Florida saw job growth top 24.9% and Texas hit 20.3%.
Business leaders feel ignored
Just 2% of business owners surveyed believe state government represents their interests. Only 3% think state lawmakers understand their industries.
O’Mara says these numbers reflect what he’s heard firsthand — and why the current approach isn’t working.
“Blueprint for New York seeks to inject a dose of economic reality and fiscal common sense into the discussion,” O’Mara wrote.
Business leaders are urging lawmakers to focus on cutting regulations, lowering costs, and rebuilding the state’s competitive edge — before more people and jobs disappear.
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