With more than one million retail establishments and nearly 15 million employees, the retail industry is one of the most important in the United States. The economic health of the retail industry – and ultimately its ability to provide millions of jobs and desired goods and services at reasonable prices – depends in large part on the regulatory environment within which it must operate.
An economic engine for New York State
Annual retail sales in New York State exceed $251 billion.
A significant employer
New York’s retailers employ more than 941,000 workers in more than 77,000 establishments, also partnering with state and local governments as key entry-level employers for job training and opportunity programs throughout the state.
Billions in payroll
Retailing in New York State has a payroll of more than $31 billion.
A sales tax generator
Retail sales in New York State account for 20% of the taxable sales and purchases in the state’s tax base.
A community supporter
Retailers large and small provide donations of cash, merchandise, and/or facilities to support community groups, schools, and other organizations in the villages, towns and cities where they do business.
Sources: U.S. Census Bureau, 2012 Economic Census; New York State Department of Labor Quarterly Census of Employment and Wages (2016 data); New York State Department of Taxation and Finance, Taxable Sales and Purchases (2015 – 2016)