New York, New York

New York City, officially the City of New York, is the most populous city in the United States and the most densely populated major city in North America. Located in the state of New York, New York City has a population of over 8.1 million within an area of 321 square miles (approximately 830 km²).

The city is a center for international finance, fashion, entertainment and culture, and is widely considered to be one of the world's major global cities with an extraordinary collection of museums, galleries, performance venues, media outlets, international corporations and financial markets. It is also home to the headquarters of the United Nations.

The New York metropolitan area has a population of about 22 million, which makes it one of the largest urban areas in the world. The city proper consists of five boroughs: The Bronx, Brooklyn, Manhattan, Queens, and Staten Island. With the exception of Staten Island, each of these boroughs is home to at least a million people and would be among the nation's largest cities if considered independently.

1 The local economy
2 Recent New York Business News
3 See also
4 External links

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The local economy

New York City is a major center for international business and commerce and is one of three "command centers" for the global economy (along with Tokyo and London) according to sociologist and economist Saskia Sassen. The financial, insurance, and real estate industries form the basis of the city's economy. New York is also the most important center for mass media, journalism and publishing in the United States as well as the preeminent arts center in the country. Other important sectors include the city's television and film industry, second largest in the United States after Hollywood; medical research and technology; non-profit institutions and universities; and fashion.

The city's stock exchanges are among the most important in the world. The New York Stock Exchange is the largest stock exchange in the world by dollar volume, while the NASDAQ is the world's largest by number of listings. Many international corporations are headquartered in the city, including more Fortune 500 companies than anywhere else. New York is unique among American cities for its large number of foreign corporations. One out of every ten private sector jobs in the city is with a foreign company. Often this makes the perspective of New York’s business community internationalist and at odds with the federal government’s foreign policy, trade policy, and visa policy.

Specialized manufacturing accounts for a large but declining share of employment. Garments, chemicals, metal products, processed foods, and furniture are some of the principal manufacturers. New York’s fine natural harbor has meant international shipping has always been a major part of the city’s economy, but in recent decades most cargo shipping has moved from the Brooklyn waterfront across the harbor to the Port Newark-Elizabeth Marine Terminal in New Jersey. Some cargo shipping remains; Brooklyn still handles the majority of cocoa bean imports to the United States.

Source - Wikipedia: New York City

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