Facts about the Retail Industry in New York State

With more than one million retail establishments and 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 $107 billion.

A significant employer
New York’s retailers employ more than 890,000 workers in more than 72,000 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 $26 billion.

A sales tax generator
Retailing helps generate, collect and remit New York State and local sales tax revenue exceeding $24 billion annually.

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, 2007 Economic Census; New York State Department of Taxation and Finance, Office of Tax Policy Analysis, Taxable Sales and Purchases, December 2008; New York State Department of Labor Quarterly Census of Employment and Wages