Here is a study that tries to estimate the cost of regulation in California.

It's the kind of thing that needs to be done in New York. In the event, it draw criticism in California. I do not know if that was justified or not. But it does show that these kinds of exercises can be done. Moreover, it shows that people in California, which also has an extremely high cost of living, realize that.

It argues that regulation cost the average small business in California in 2007 $134,122 and the loss of approximately one job per business. Overall, it says that the cost of regulation amounted to $492 billion.

http://www.sba.ca.gov/Cost%20of%20Regulation%20Study%20-%20Final.pdf