New York Executives Blast State Over Regulatory ‘Black Hole’

(Bloomberg) – At a recently round table meeting with New York executives, Heather Bricetti Mulligan remembers the disappointment of a businessman who compares Pizza to allow a $ 200 million construction project for a construction project of $ 200 million.

Pizza can be followed by phone from the moment it is ordered to arrive at the door of the Chairman of the New York State Business Council. On the other hand, permission, “the black hole entered”.

“’There’s no one I can call,’ ‘he said.“ I don’t know when to look. I have no idea if there is something wrong with this. And there is no timeline. ”

The paragraph was one of the many people who were told to the Business Council as part of more than 500 business leaders who found a wide pessimistic perspective on the ability to operate in the empire. Increased costs, high taxes, increasing regulatory requirements and workers’ population.

The findings published on Wednesday seem to claim the business world as the pre -runner of the democratic socialist Zohran Mamdani and the Mayor of New York. The agenda, which includes freezing rents and increasing taxes for companies and wealthy to pay for free childcare and buses, has been concerned that companies and businesses will be deported from New York among companies and businessmen.

At the same time, the state faces an uncertain economic climate behind President Donald Trump’s tariff policy, abolishing financing cuts and migration.

The questionnaire found that businesses have already been fighting. Only 3% of the business leaders say that New York organizers and deputies understand or support their industries, and only 2% believe that they represent the interests of Albany deputies. And more than 70% of the respondents said they did not see the current economic conditions in the state well.

Together with the New York State Economic Development Council, the Business Council held more than 10 months to ask its owners for more than 10 months to ask for the difficulties they faced with the city and state governments. The names of the enterprises representing nine regions throughout the state and the people participating in the survey were kept hidden to allow people to speak freely.

Although the participants said that they were generally satisfied with the quality of the existing labor force in the state, they talked about a worrying long -term tendency: New York’s working age human population fell 3.8%in the last decade. New York ranked 46th among 50 states in the growth of the working age population for ten years, while the states such as Utah, Idaho, Texas and Florida saw that potential workers’ pools grew in double -digit percentages during the same time.

Participants, talent competition, attracts the workers to the state, as well as the difficulty in protecting them. This is not only high taxes, but also participants stated the high life and energy costs as factors that bring workers out of the state.

In New York, even participants who have benefited from a new talent pipeline from the university, often said that they had to find career positions elsewhere, because many workers left because of the cost of excessive life.

In June, he helped explain the increase in popularity of Mamdani, who defeated former Governor Andrew Cuomo in Democratic Primary Education. However, the plan is trying to increase the state’s best corporate tax rate from 7.25% to 11.5% and to add 2% tax to people who earn more than $ 1 million.

Governor Kathy Hochul, who approved Mamdani and had to sign for tax increase, said that he did not want to collect taxes in the state last week and that he was “very sensitive” to his competitiveness with other states.

Reducing business taxes, after reducing state and local government regulations, it was stated as the second most important proposal of the survey participants to increase competitiveness. The participants complained about the costs of insurance, lawsuits and complex, confidential and frequently changing licensing, permission and regulatory processes in city and state institutions.

‘Byzantine bureaucracy’

In an recent interview with Bloomberg, Mamdani promised to help small businesses by cutting their fines and wages if they were elected in November.

Mamdani, “the prominent and faced of the fines of frequent compatibility and punishment of more interest with the owner of the business owner,” he said. “And they usually change in their enforcement and practices depending on the mood and the person who comes to research their work.”

In addition, for the special teams serving small enterprises, a new city official, a new city official to increase the funds and “help the enterprises walk around the Byzantine bureaucracy”.

And promised to review the city’s arrangement network to determine which one was unnecessary or unfair.

“We have seen how to open a barber shop, you need to fill 24 forms, go to seven agents and participate in 12 hundred hundred events.

Ryan Silva, General Manager of the Economic Development Council, said, “Instead of investing in New York, businesses reach the overturning point they invest in different states,” he said.

“Whether it is a regulator, whether it is a cost, I have access to energy, Sil Silva said,“ Companies either choose to invest and grow in other fields, or they continue very quietly. ”

(Updates with the map, Mamdani’s comments starting from paragraph 15)

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