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The Sights Beyond the City Lights

May 15, 2016

Hot Areas in Which to Launch New Business

If you’re looking for a favorable climate in which to expand your current business, open a new office, or embark on a new venture, look no further than your own Empire State. With a stable financial environment and thriving population, the state of New York offers numerous options for small businesses to grow and flourish.

Here are just a few to consider:

Long Island

A short distance from the city, Long Island has experienced an increase in both job growth and real estate value since 2014. When you’re not working, check out the beach views or visit a local winery (more than 60 call Suffolk County home).

Rochester

Ranked highly by WalletHub for its business environment (including taxes, cost of living, education level, and business survival rate), Rochester features several higher education institutions and has become a hub for technology companies. After work, enjoy the Rochester Contemporary Art Center, the Strasenburgh Planetarium, or the Rochester Philharmonic Orchestra.

Suffern

With area businesses averaging $7.9 million in revenue annually, Suffern ranks ahead of the competition in terms of individual business success. Having been listed as one of the 25 Safest Cities in New York, it features the Hermitage Museum and Rockland College’s Small Business Development Center—with bustling New York City only 35 miles away and the Woodbury Commons luxury outlets a quick 25-minute drive. It also serves as a major hub for small businesses, featuring the Hudson Valley Research Park and numerous bio-technology companies.

From starting a new business venture to establishing your company’s current financial status, Sterling National Bank is there every step of the way. To find out how SNB can assist with your business needs, contact your relationship manager or call 855.274.2800. 

Resources to Capitalize On

The New York Center for Global Economy (nyfirst.ny.gov) is an essential reference for information about owning and operating small businesses—with start-up guides, tax regulations and employment laws.

The New York Small Business Development Center (nyssbdc.org/) specializes in consulting for new business owners or existing business owners striving for growth. This agency is responsible for creating or maintaining more than 180,000 jobs and working with more than 414,000 businesses in the state of New York—offering a variety of services completely free of charge.

If your company qualifies as a start-up, look no further than START-UP NY (startup.ny.gov), which partners with New York universities to offer business incentives and resources for eligible companies. Qualifying businesses can enjoy tax breaks as well.