New York’s ‘hottest’ companies are making a killing in New Jersey
Posted On June 18, 2021
NEW YORK — A new analysis of data from the New York State Office of Business and Industry found that New Jersey’s top three tech companies in 2016 earned more than $100 million in New York state tax revenue.
The report, which analyzed data from fiscal years 2016 and 2017, found that Airbnb, Uber, and Salesforce made up three of the top six companies in New England in 2016, and that each company made over $5.5 million in revenue in New Hampshire in 2017.
In New Jersey, Airbnb made $1.5 billion in tax revenue in 2016.
Uber made $2.5.
Salesforce, with an estimated annual revenue of $9 billion, made $5 billion.
The top three companies earned more in New Mexico, with $2 billion in revenue and $3.5 in taxes collected in 2016 alone.
In Massachusetts, Airbnb generated more than twice as much tax revenue as it did in New Orleans in 2016 and it was followed by Uber with $1 billion and SalesForce with $567 million.
Uber in New South Wales collected $8.5m in New Zealand and Uber in Australia collected $7.3 million in Australia, but the company was also followed by Salesforce with $6.9 million and Airbnb with $4.8 million in tax collected in New Bedford, Mass.
New Jersey’s three largest tech companies earned over $3 billion in New Brunswick in 2016 in the first year of its local tax-free zone.
In 2017, the city’s largest tech company, Google, earned $1 million in taxes in the city and the third largest company, Facebook, made a little over $2 million.
Salesforce in New Britain, the second-largest tech company in New Bordeaux, made more than one million dollars in New Belgium in 2016; it’s estimated that the company earned over half a million dollars there in 2017 alone.
In 2018, Salesforce was the third-largest company in the country in New Haven, Conn.