New York City’s efforts to address its housing shortage have led to a growth in supply that outpaced that of the State, but a drop in permits suggests slower growth may be on the horizon. The City gained 307,000 housing units from 2010 through 2023, an increase of 9%, bringing the total to over 3.7 million. Brooklyn gained the most over that time, with 11.4% growth to reach 1.1 million units or 30% of housing citywide.
This report details New York’s financial impact from the energy and environmental portions of the 2022 Inflation Reduction Act (IRA), including close to $2 billion in funds that could help lower costs during New York’s transition to clean energy. IRA programs represent a significant source of funding as the State pursues policies to reduce greenhouse gas emissions and improve resiliency. There is now significant uncertainty about whether this funding will continue after a new executive order issued by President Trump.
The New York portion of the New York City Metropolitan Area accounted for more than $103 billion, or 69% of the value of goods imported to New York State in 2023, and Europe provided the largest share of goods to the area. This report aims to help New Yorkers understand the potential effects of federal trade policy choices on their businesses and households.
Sales tax collections for local governments and other local taxing entities in New York State totaled $23.4 billion in calendar year 2024, up 1.6 percent (or nearly $376 million) from the prior year. This increase not only marked the lowest year-over-year rate of growth in collections since the COVID-related decline in 2020, but it was less than half the average annual growth rate (3.8 percent) for the 2011 to 2019 period of recovery and expansion following the Great Recession.
New York’s child care sector continues to face lingering challenges post-pandemic including child care deserts, low wages for child care workers and high prices that are putting a financial strain on families statewide. Yet even with high prices, many providers operate on thin margins, with financial and regulatory pressures that make expansion or even operating at capacity challenging. Vigorous federal support and additional State efforts are necessary to improve the availability of child care.
Homelessness in New York State has grown sharply, more than doubling between January 2022 and January 2024. A key reason for the increase has been the mass arrival of asylum seekers to New York in this period. While the homelessness increase was driven mostly by New York City, the rest of the State’s regions also experienced increases during this time period.
Nonprofit organizations in 2022 provided 1.3 million jobs to New Yorkers, just over 1 in 6 private sector jobs in the State. However, nonprofits in New York have been shrinking since 2017, both in number of establishments and in number of jobs, while expanding in the rest of the nation. This report analyzes the most recent employment and wage data released by the U.S. Bureau of Labor Statistics for charitable organizations identified as 501(c)(3)s for the period 2017 through 2022, the latest data available.
One in four New York City households had no cable, FTTP or DSL internet subscription as of 2023, with The Bronx having the highest share of households without access. More than availability, the challenge for residents to access the internet in the City appears to be driven by a lack of affordable options for some.
Local sales tax collections in New York State increased by 2.3% in October compared to the same month in 2023. Overall, local collections totaled $1.84 billion for the month, up $41 million year over year.
Farming in New York plays a critical role, both as an economic engine for communities and as an essential part of our food supply system. This report provides a comprehensive breakdown of farming across upstate New York, Long Island and New York City, including an analysis of State programs and tax benefits for farmers.
