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The climate for doing business in New York State has never been better. If you’re looking to launch or expand your business and start a foreign LLC, New York is the right place. You’ll find an array of Empire State advantages: tax-based incentives, resources and training for entrepreneurs and businesses looking to go global, industry/university partnerships fostering the development of innovative technologies and products, and the financial support needed to help businesses grow.
At a time when our taxes are at their lowest in decades and our private-sector jobs are at historic highs, we’re investing an additional $150 billion in the nation’s largest infrastructure program, reinforcing New York State’s prime business location. We’re committed to low-cost clean energy to power business and protect the environment. We’re giving students access to free college tuition and creating innovative workforce development programs that give New Yorkers access to 21st century jobs and give companies the skilled workers they need to succeed. We’re cultivating industry-university partnerships with our top-tier educational institutions to help develop the technologies of tomorrow and to offer opportunities for New York’s college graduates to join our diverse workforce – to stay, grow and continue to innovate here. And that’s all in a state that’s home to unparalleled art, culture and natural beauty, from the Adirondack Mountains to New York City’s museums and Long Island’s world-renowned beaches.
With abundant Farmland, Programs and Incentives, New York is cultivating Success for Growers and Producers.
When people think of New York State, they may not think of agribusiness. Yet approximately 20% of the state’s land area is used for farming. The Empire State is rich with farms that produce a variety of field crops, fruits, and an abundance of milk — all of which support a wide array of food manufacturers. New York’s top five ranking in milk production supports manufacturing of award-winning cheese and yogurt, including industry leaders Chobani and Fage, and HP Hood, a national food and beverage processor, announced plans in 2019 to expand its operations in Steuben County. New York State beets and apples are among the many ingredients to successful products that got their start here.
The state’s natural resources, from forests to farms—coupled with top educational institutions including Cornell University, SUNY Cobleskill, Genesee Community College and SUNY- ESF—enable the success of our wide array of agribusinesses. That success, in turn, supports New York State’s economy in many ways, including creation of new jobs and growth in tourism. New York State timber also is a base for paper products, furniture manufacturing and flooring. New York plants the seed for agribusiness both here, and around the world. The Grow-NY food and agriculture competition, announced in 2019 and focused on food and agriculture innovation in the Finger Lakes, Central New York and Southern Tier regions, will offer a total of $3 million in funding for each round to innovative high-growth start-ups that are focused on the food and agriculture industry.
New York’s Diversity and Strength are enabling groundbreaking Life Science Innovation.
Through strategic investment in biopharmaceutical, device and diagnostic research, development and manufacturing, New York fuels the creation of cutting-edge healthcare solutions. New York is growing its life science industry through a broad range of economic development programs and public-private partnerships, supported by the state’s award-winning research talent. And through its $620 million Life Science Initiative, New York is expanding the state’s ability to commercialize research and spurring the growth of a world-class life science research cluster.
New York State, a Leader in Clean Tech and Renewable Energy Resources, is growing a Green Economy – aiming for 100% Clean Power by 2040.
Our commitment to clean tech and renewable energy is driving tech manufacturing and reinvigorating New York State’s economy – while establishing New York State as a business destination for industry innovators looking to access one of the world’s largest markets.
New York State is committed to a cleaner, greener energy future—leading the U.S. in wind- and clean-technology patents, renewable energy resources, the development of new energy storage products and systems, and biofuel manufacturing and production. To meet the state’s goal of at least 100% electric generation from renewable sources by 2040, Governor Andrew Cuomo is targeting offshore wind, increased energy storage and greater energy efficiency. This supplements New York’s ongoing efforts to develop and deploy solar, wind, geothermal and other renewable products and systems via established university-industry collaborations and state initiatives supported by the state’s Clean Energy Fund and Green Bank. A nation-leading commitment to generating nearly 1,700 megawatts of offshore wind—announced by Governor Cuomo in July 2019—will play a key role getting New York State to its goal of 100% renewable by 2040, and is expected to create $3.2 billion in economic activity and more than 1,600 jobs.
Breweries, Wineries, Distilleries and Cideries are booming in New York State with Support that has fueled Craft Beverage Industry Growth.
Alcoholic beverage manufacturing has changed, especially in New York State — in fact, no state has done more to assist and promote the craft beverage industry. To benefit the growing number of independent brewers, vintners and distillers, we’ve worked collaboratively with the industry to transform our laws and add business-friendly legislation, including farm-based manufacturing licenses and tax incentives. The result is a renaissance in craft production throughout the state. Wineries, breweries, distilleries and cideries abound, their numbers keep climbing, and the trend is expected to continue thanks to the state’s focus on this industry.
New York State is a Premier Location for Building and Locating Distribution Centers.
New York State’s unparalleled market proximity, plus a host of resources and incentives available to distribution centers give businesses a distinct edge over the competition. Speed, flexibility and a strategic location that offers easy access to East Coast markets are key ingredients New York offers to product distributors. With a large, skilled labor pool, a vast network of railways, highways and ports — and an additional $150 billion investment in the most ambitious infrastructure and development program in state history — the distribution industry finds an efficient and cost-effective home here. New York also delivers in working with community partners to help companies find distribution center locations.
The World’s most Successful Financial Services, Insurance and Fintech Companies call New York State Home.
New York is a global financial capital — home to many of the world’s leading commercial and investment banks, insurance companies, and increasingly the location of choice for fintech and insurance-tech businesses such as PolicyGenius, Brex, MasterCard, BetterMortgage, Oscar and Zipari.
From front-office executive, quantitive analytics, trading and client relationship offices to back-office IT infrastructure, claims processing, and technical support operations, the state has the workforce and infrastructure to make businesses successful and to let Foreign LLCs thrive in New York.
Top University, Talent and the Nation’s first Drone Testing Corridor are growing Cyber Security and Defense in New York State.
New York State is supporting a growing cybersecurity industry with increasing demand for products and services that safeguard computers, networks, program and data from digital attack or unauthorized access. Those products and services range from development of software and hardware to increase cyber resiliency to multinational firms with cybersecurity practices. As a key financial center and home to major metropolitan areas that demand top-level security infrastructure, New York is also a sizable market for private-sector homeland security providers that create solutions for and organizations in New York — and beyond — including defense contractors, aerospace companies and manufacturers of defense products, among others. New York State’s economic clout, access to venture capital and diversity of affordable areas for companies to locate operations or establish support centers is also driving industry growth.
New York’s Design and Production of Industrial Machinery and Systems is enhanced by Research that helps Manufacturers improve Efficiency.
As a leader in the design and production of industrial machinery and systems, New York State produces everything from turbines and pumps to compressors and generators. New York State’s leadership position in the design and production of industrial machinery and systems is enhanced by its industry-leading research in high-tech electronics, software and materials processing, all of which can help manufacturers improve precision and efficiency.
The state’s industry is fueled by many other factors, including a number of robust incentive programs and a 0% corporate income tax rate for manufacturers. This vibrant sector has a statewide footprint, supported by a highly skilled workforce, and with available industrial manufacturing facilities and sites that are ready to occupy. Add to the mix New York’s world-class research and development facilities dedicated to facilitating industry-university collaboration: there is no better place for businesses such as foreign LLCs to build and grow in New York.
New York State’s Materials Processing Manufacturers – of Alloys, Ceramics, Polymers and More – create many Industries’ “Enabling Technology”.
New York is home to a wide variety of manufacturing businesses — from special alloys to engineering polymers, ceramics finishing operations and more. Materials produced in New York State provide the “enabling technology” for sectors such as electronics, computers, telecommunications, transportation, aerospace, medical equipment, construction and consumer products. Proximity to major markets, through an expansive transportation infrastructure, also offers efficient national and global access.
New York’s large cross-section of research, development and manufacturing activity, combined with incentive programs and a well-educated workforce, also contribute to this thriving environment. The state’s Centers for Advanced Technology (CATs) are an example of industry-university collaborative research and development that commercializes new advanced materials and increases the competitiveness of New York State businesses.
New York State’s Thriving Tech Community and Top Stem Talent put the State at the Forefront of Software Development and Digital Media.
New York State’s thriving tech community puts the state at the forefront of software development and digital media. With more than 600,000 software and digital media jobs and over 24,000 firms. New York State attracts top ideas and talent from around the globe. New York’s unparalleled legacy strengths in print, publishing and broadcast media helped pave the way to its leadership in software development and digital media. Clusters of high-tech and creative firms are growing in New York City and around the state which makes starting an LLC in NY so promising. Fueled by a strong STEM talent pipeline, innovation hubs are thriving Upstate, in cities including Rochester, Schenectady, Troy, Syracuse and Buffalo. New York State is rich in the services and amenities that are vital to high-tech businesses and workers — technology incubators, co-working spaces, top-tier colleges and universities and broadband access.
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