Small Business Owners are the Backbone of New York's Economy
A new report by Comptroller DiNapoli details how vital small businesses are to New York’s economy, generating nearly $1 trillion in sales and revenues with more than 3.7 million employees at over 422,000 establishments in 2023, the most recent year for which data is available. New York ranked fourth among states in the number of small businesses and third behind California and Florida for its share of small businesses, but trailed the rest of the country in some key metrics, including small business creation and employment.
“Small businesses are the foundation of New York’s economy, stimulating economic activity in our cities and towns, spurring innovation across industries, providing a variety of employment opportunities, and enriching our communities,” DiNapoli said. “However, growth in small business jobs and new startups lags the rest of the nation. New challenges, like tariffs, have forced owners to make sacrifices and difficult choices. The state and local governments should continue to look for ways to support small businesses by easing their entry into markets and helping them thrive in New York.”
Service-Providing Industry Sectors Dominate State's 21st Century Economy
Since 2000, health care, social assistance and other service-providing industry sectors, such as accommodation and food services and educational services, have increased their share of total employment in New York (including New York City), while the number of jobs in goods-producing sectors continued a long-term decline, according to a report released by Comptroller DiNapoli.
“Service-providing industry sectors have powered job growth across New York and have helped shape the 21st century economic landscape,” said DiNapoli. “The strengthening of these service industries has been widespread, although there are still notable regional differences in the mixture of sectors. This report provides industry-level job and wage data and workforce trends to help policymakers as they continue their work to ensure quality employment opportunities for all New Yorkers.”
New York State Sunshine Week
Comptroller DiNapoli works hard for New Yorkers to ensure accountability and transparency at all levels of government. Sunshine week celebrates this commitment to effective governance and prevention of waste, fraud and abuse. Open Book New York allows the public to search millions of state and local financial records and includes interactive data trackers to monitor revenue and spending trends, federal funding in New York, contracts, NYC agency services and industry sectors and more.
Comptroller DiNapoli Releases 2025 Fiscal Stress Scores for Villages and Some Cities
Comptroller DiNapoli announced that seven villages were designated in fiscal stress under his office’s Fiscal Stress Monitoring System for their fiscal year ending in 2025. All non-calendar fiscal year local governments that filed their annual financial reports in time to be scored were evaluated. One village was designated in “significant fiscal stress,” four in “moderate fiscal stress,” and two as “susceptible to fiscal stress.”
The Village of Island Park (Nassau County) was classified in “significant fiscal stress.” The four villages designated in “moderate fiscal stress” were: Alexander (Genesee County), Coxsackie (Greene), Liberty (Sullivan) and Tivoli (Dutchess). The two villages classified as “susceptible to fiscal stress” were: Homer (Cortland) and Huntington Bay (Suffolk).
Former Executive Director of the Fulton-Montgomery County Chamber Of Commerce Arrested for Embezzling Over $440k
Comptroller DiNapoli, Montgomery County District Attorney Christina Pearson, and New York State Police Superintendent Steven G. James announced the arrest of the former Executive Director of the Fulton-Montgomery County Chamber of Commerce for allegedly stealing $440,351 from the Chamber.
Weekly Recap: Celebrating Tradition, Advocacy and New Leaders
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