Economy of NY
June 2nd, 2008
New York City controls the economy of the state. It is the leading center of banking, finance and communication in the United States and is the location of the New York Stock Exchange (NYSE) on Wall Street, Manhattan. The Bureau of Economic Analysis estimates that New York's gross state product in 2006 was $1.02 trillion, ranking third in size behind the larger states of California and Texas. If New York were an independent nation, it would rank as the 16th largest economy in the world behind South Korea. Its 2005 per capita personal income was $40,072, an increase of 4.2% from 2004, placing it fifth in the nation behind Maryland, and eighth in the world behind Ireland. New York's agricultural outputs are dairy products, cattle and other livestock, vegetables, nursery stock, and apples. Its industrial outputs are printing and publishing, scientific instruments, electric equipment, machinery, chemical products, and tourism. A recent review by the Center on Budget and Policy Priorities found 13 states, including several of the nation's largest, face budget shortfalls for FY2009. New York faces a deficit that could be as large as $4.3 billion.
New York exports a wide variety of goods such as foodstuffs, commodities, minerals, manufactured goods, cut diamonds, and automobile parts. New York's five largest export markets in 2004 were Canada ($30.2 billion), United Kingdom ($3.3 billion), Japan ($2.6 billion), Israel ($2.4 billion), and Switzerland ($1.8 billion). New York's largest imports are oil, gold, aluminum, natural gas, electricity, rough diamonds, and lumber.
As no surprise to anyone, Canada is a very important economic partner for the state. 23% of the state's total worldwide exports went to Canada in 2004. Tourism from the north is also a large part of the economy. Canadians spent US$487 million in 2004 while visiting the state.
As I have already mentioned, New York City is the leading center of banking, finance and communication in the United States and is the location of the New York Stock Exchange, the largest stock exchange in the world by dollar volume. Many of the world's largest corporations are based in the city.
The state also has a large manufacturing sector that includes printing and the production of garments, furs, railroad equipment and bus line vehicles. Many of these industries are concentrated in upstate regions. Albany and the Hudson Valley are major centers of nanotechnology and microchip manufacturing, while the Rochester area is important in photographic equipment and imaging.
New York is a main agricultural producer, ranking among the top five states for agricultural products such as dairy, apples, cherries, cabbage, potatoes, onions, maple syrup and many others. The state is the largest producer of cabbage in the U.S.; NY state has about a quarter of its land in farms and produced US$3.4 billion in agricultural products in 2001. The south shore of Lake Ontario supplies the right mix of soils and microclimate for many apple, cherry, plum, pear and peach orchards. Apples are also grown in the Hudson Valley and near Lake Champlain. The south shore of Lake Erie and the southern Finger Lakes hillsides have many vineyards with juicy grapes. And you know, New York is the nation's third-largest grape-producing state, behind California, and second largest wine producer by volume. In 2004, New York's wine and grape industry brought US$6 billion into the state economy. The state has 30,000 acres (120 km²) of vineyards, 212 wineries, and produced 200 million bottles of wine in 2004. A moderately sized saltwater commercial fishery is located along the Atlantic side of Long Island. The principal catches by value are clams, lobsters, squid, and flounder. These areas have been enlarging as environmental protection has led to a growth in ocean wildlife.
New York exports a wide variety of goods such as foodstuffs, commodities, minerals, manufactured goods, cut diamonds, and automobile parts. New York's five largest export markets in 2004 were Canada ($30.2 billion), United Kingdom ($3.3 billion), Japan ($2.6 billion), Israel ($2.4 billion), and Switzerland ($1.8 billion). New York's largest imports are oil, gold, aluminum, natural gas, electricity, rough diamonds, and lumber.
As no surprise to anyone, Canada is a very important economic partner for the state. 23% of the state's total worldwide exports went to Canada in 2004. Tourism from the north is also a large part of the economy. Canadians spent US$487 million in 2004 while visiting the state.
As I have already mentioned, New York City is the leading center of banking, finance and communication in the United States and is the location of the New York Stock Exchange, the largest stock exchange in the world by dollar volume. Many of the world's largest corporations are based in the city.
The state also has a large manufacturing sector that includes printing and the production of garments, furs, railroad equipment and bus line vehicles. Many of these industries are concentrated in upstate regions. Albany and the Hudson Valley are major centers of nanotechnology and microchip manufacturing, while the Rochester area is important in photographic equipment and imaging.
New York is a main agricultural producer, ranking among the top five states for agricultural products such as dairy, apples, cherries, cabbage, potatoes, onions, maple syrup and many others. The state is the largest producer of cabbage in the U.S.; NY state has about a quarter of its land in farms and produced US$3.4 billion in agricultural products in 2001. The south shore of Lake Ontario supplies the right mix of soils and microclimate for many apple, cherry, plum, pear and peach orchards. Apples are also grown in the Hudson Valley and near Lake Champlain. The south shore of Lake Erie and the southern Finger Lakes hillsides have many vineyards with juicy grapes. And you know, New York is the nation's third-largest grape-producing state, behind California, and second largest wine producer by volume. In 2004, New York's wine and grape industry brought US$6 billion into the state economy. The state has 30,000 acres (120 km²) of vineyards, 212 wineries, and produced 200 million bottles of wine in 2004. A moderately sized saltwater commercial fishery is located along the Atlantic side of Long Island. The principal catches by value are clams, lobsters, squid, and flounder. These areas have been enlarging as environmental protection has led to a growth in ocean wildlife.
Geography&Climate of New York City
April 20th, 2008
New York City is situated in the Northeastern United States, in southeastern New York State, approximately midway between Washington, D.C. and Boston. The location at the mouth of the Hudson River, which feeds into a naturally sheltered harbor and then into the Atlantic Ocean, has helped the city grow in significance as a trading city. Much of New York is built on the three islands of Manhattan, Staten Island, and Long Island, making land scarce and encouraging a high population density.
The Hudson River flows through the Hudson Valley into New York Bay. Between New York City and Troy, New York, the river is an estuary. The Hudson separates the city from New Jersey. The East River, actually a tidal strait, flows from Long Island Sound and separates the Bronx and Manhattan from Long Island. The Harlem River, another tidal strait between the East and Hudson Rivers, separates Manhattan from the Bronx.
The city's land has been changed considerably by human intervention, with substantial land reclamation along the waterfronts since Dutch colonial times. Reclamation is most remarkable in Lower Manhattan, with developments such as Battery Park City in the 1970s and 1980s. Some of the natural variations in topography have been evened out, particularly in Manhattan.
The city's land area is 322 sq mi (831.4 km²). The highest point in the city is Todt Hill on Staten Island, which at 409.8 ft (124.9 m) above sea level is the highest point on the Eastern Seaboard south of Maine. The summit of the ridge is largely covered in woodlands as part of the Staten Island Greenbelt.
Climate.
Although situated at roughly the same latitude as the much warmer European cities of Naples and Madrid, New York has a humid continental climate resulting from prevailing wind patterns that bring cool air from the interior of the North American continent. New York City has typically cold winters but the city's coastal position keeps temperatures slightly warmer than inland regions, helping to moderate the amount of snow which averages 25 to 35 inches (63.5 to 88.9 cm) each year. New York City has a frost-free period lasting an average of 199 days between seasonal freezes. Winters here sometimes feature snowstorms that can paralyze the city with over a foot of snow. However, variation in the climate also occasionally renders winter mild and almost snowless (such as in 1997-98). Spring and autumn in New York City are erratic, and can range from cold and snowy to hot and humid, although they can also be cold or cool and rainy, the weather is notably unpredictable and travelers are advised to check forecasts and bring several layers of clothing in late fall and in the early spring months (e.g., November, March, April) as temperatures do fluctuate quickly at these times of year. Summer in New York City is warm and humid, with temperatures of 90 °F (32 °C) or higher recorded on average 18 to 25 days each summer. Though not usually associated with hurricanes, New York City is susceptible to them, notably the 1821 Norfolk and Long Island hurricane which flooded southern Manhattan, and the New England Hurricane of 1938, which brushed the eastern end of the city. The city's long-term climate patterns have been affected by the Atlantic Multidecadal Oscillation, a 70-year-long warming and cooling cycle in the Atlantic that influences the frequency and severity of coastal storms in the region.
Temperature records have been set as high as 106 °F (41 °C) on July 9, 1936 (in Central Park, LaGuardia Airport recorded a 107 °F (42 °C) temperature on July 3, 1966) and as low as -15 °F (-26 °C) on February 9, 1934. These temperatures are not common and have not been matched or surpassed in more than seven decades. Most recently, temperatures have hit 100 degrees as recently as July 2005 and 103 degrees in August 2006 (both at LaGuardia Airport; Central Park last recorded a temperature at or over 100 °F in August 2001), and dropped to 1 below zero as recently as January 2004. New York can have excessive days of rain or long stretches of dry weather.
Precipitation in New York State is spread out over the entire state, although areas in the mountains will receive more in most years than lower elevations. Drought is rare, and doesn't last. Most of the state receives over 70 inches of snow a year, with New York City and Long Island getting around 25 inches in a typical winter. Blizzards are New York's most frequent source of weather trouble. Localized heavy flooding can occur in New York State. Hurricanes can hit coastal New York, but direct hits are rare.
The Hudson River flows through the Hudson Valley into New York Bay. Between New York City and Troy, New York, the river is an estuary. The Hudson separates the city from New Jersey. The East River, actually a tidal strait, flows from Long Island Sound and separates the Bronx and Manhattan from Long Island. The Harlem River, another tidal strait between the East and Hudson Rivers, separates Manhattan from the Bronx.
The city's land has been changed considerably by human intervention, with substantial land reclamation along the waterfronts since Dutch colonial times. Reclamation is most remarkable in Lower Manhattan, with developments such as Battery Park City in the 1970s and 1980s. Some of the natural variations in topography have been evened out, particularly in Manhattan.
The city's land area is 322 sq mi (831.4 km²). The highest point in the city is Todt Hill on Staten Island, which at 409.8 ft (124.9 m) above sea level is the highest point on the Eastern Seaboard south of Maine. The summit of the ridge is largely covered in woodlands as part of the Staten Island Greenbelt.
Climate.
Although situated at roughly the same latitude as the much warmer European cities of Naples and Madrid, New York has a humid continental climate resulting from prevailing wind patterns that bring cool air from the interior of the North American continent. New York City has typically cold winters but the city's coastal position keeps temperatures slightly warmer than inland regions, helping to moderate the amount of snow which averages 25 to 35 inches (63.5 to 88.9 cm) each year. New York City has a frost-free period lasting an average of 199 days between seasonal freezes. Winters here sometimes feature snowstorms that can paralyze the city with over a foot of snow. However, variation in the climate also occasionally renders winter mild and almost snowless (such as in 1997-98). Spring and autumn in New York City are erratic, and can range from cold and snowy to hot and humid, although they can also be cold or cool and rainy, the weather is notably unpredictable and travelers are advised to check forecasts and bring several layers of clothing in late fall and in the early spring months (e.g., November, March, April) as temperatures do fluctuate quickly at these times of year. Summer in New York City is warm and humid, with temperatures of 90 °F (32 °C) or higher recorded on average 18 to 25 days each summer. Though not usually associated with hurricanes, New York City is susceptible to them, notably the 1821 Norfolk and Long Island hurricane which flooded southern Manhattan, and the New England Hurricane of 1938, which brushed the eastern end of the city. The city's long-term climate patterns have been affected by the Atlantic Multidecadal Oscillation, a 70-year-long warming and cooling cycle in the Atlantic that influences the frequency and severity of coastal storms in the region.
Temperature records have been set as high as 106 °F (41 °C) on July 9, 1936 (in Central Park, LaGuardia Airport recorded a 107 °F (42 °C) temperature on July 3, 1966) and as low as -15 °F (-26 °C) on February 9, 1934. These temperatures are not common and have not been matched or surpassed in more than seven decades. Most recently, temperatures have hit 100 degrees as recently as July 2005 and 103 degrees in August 2006 (both at LaGuardia Airport; Central Park last recorded a temperature at or over 100 °F in August 2001), and dropped to 1 below zero as recently as January 2004. New York can have excessive days of rain or long stretches of dry weather.
Precipitation in New York State is spread out over the entire state, although areas in the mountains will receive more in most years than lower elevations. Drought is rare, and doesn't last. Most of the state receives over 70 inches of snow a year, with New York City and Long Island getting around 25 inches in a typical winter. Blizzards are New York's most frequent source of weather trouble. Localized heavy flooding can occur in New York State. Hurricanes can hit coastal New York, but direct hits are rare.
New York City
March 26th, 2008
New York City is the most populous city in the United States, with its metropolitan area ranking among the largest urban areas in the world. It has been the largest city in the United States since 1790. For more than a century, it has been one of the world's major centers of commerce and finance. New York City is rated as an alpha world city for its global influences in media, politics, education, entertainment, arts and fashion. The city is also a major center for foreign affairs, hosting the headquarters of the United Nations.
New York City comprises five boroughs, each of which is coextensive with a county: The Bronx, Brooklyn, Manhattan, Queens and Staten Island. With over 8.2 million residents within an area of 322 square miles (830 km²), New York City is the most densely populated major city in the United States.
Many of the city's neighborhoods and landmarks are known around the world. The Statue of Liberty greeted millions of immigrants as they came to America in the late 19th and early 20th centuries, at Ellis Island, a small part of which lies within the city. Wall Street, in Lower Manhattan, has been a dominant global financial center since World War II and is home to the New York Stock Exchange. The city has been home to several of the tallest buildings in the world, including the Empire State Building and the twin towers of the World Trade Center, which were destroyed in the September 11, 2001 attacks.
New York is the birthplace of many American cultural movements, including the Harlem Renaissance in literature and visual art, abstract expressionism (also known as the New York School) in painting, and hip hop, punk, salsa, and Tin Pan Alley in music. In 2005, nearly 170 languages were spoken in the city and 36% of its population was born outside the United States. With its 24-hour subway and constant bustling of traffic and people, New York is known as "The City That Never Sleeps;" it was first linked with "Gotham" by Washington Irving in 1807.
History of New York City.
The region was inhabited by about 5,000 Lenape Native Americans at the time of its European discovery in 1524 by Giovanni da Verrazzano, an Italian explorer in the service of the French crown, who called it New Angoulême. European settlement began with the founding of a Dutch fur trading settlement, later called New Amsterdam, on the southern tip of Manhattan in 1614. Dutch colonial Director-General Peter Minuit purchased the island of Manhattan from the Lenape in 1626 for a value of 60 guilders (legend, now disproved, says that Manhattan was purchased for $24 worth of glass beads). In 1664, the English conquered the city and renamed it "New York" after the English Duke of York and Albany. At the end of the Second Anglo-Dutch War the Dutch gained control of Run in exchange for the English controlling New Amsterdam (New York) in North America. By 1700, the Lenape population was diminished to 200.
New York City grew in importance as a trading port while under British rule. In 1754, Columbia University was founded under charter by King George II as King's College in Lower Manhattan. The city emerged as the theater for a series of major battles known as the New York Campaign during the American Revolutionary War. The Continental Congress met in New York City and in 1789 the first President of the United States, George Washington, was inaugurated at Federal Hall on Wall Street. In the 19th century, the city was transformed by immigration and development. A visionary development proposal, the Commissioners' Plan of 1811, expanded the city street grid to encompass all of Manhattan, and the 1819 opening of the Erie Canal connected the Atlantic port to the vast agricultural markets of the North American interior. By 1835, New York City had surpassed Philadelphia as the largest city in the United States. Local politics fell under the domination of Tammany Hall, a political machine supported by Irish immigrants. Public-minded members of the old merchant aristocracy lobbied for the establishment of Central Park, which became the first landscaped park in an American city in 1857. A significant free-black population also existed in Manhattan, as well as in Brooklyn. Slaves had been held in New York through 1827, but during the 1830s New York became a center of interracial abolitionist activism in the North.
Anger at military conscription during the American Civil War (1861–1865) led to the Draft Riots of 1863, one of the worst incidents of civil unrest in American history. In 1898, the modern City of New York was formed with the consolidation of Brooklyn (until then an independent city), the County of New York (which then included parts of the Bronx), the County of Richmond, and the western portion of the County of Queens. The opening of the New York City Subway in 1904 helped bind the new city together. Throughout the first half of the 20th century, the city became a world center for industry, commerce, and communication. However, this development did not come without a price. In 1904, the steamship General Slocum caught fire in the East River, killing 1,021 people on board. In 1911, the Triangle Shirtwaist Factory fire, the city's worst industrial disaster, took the lives of 146 garment workers and spurred the growth of the International Ladies' Garment Workers' Union and major improvements in factory safety standards.
In the 1920s, New York City was a major destination for African Americans during the Great Migration from the American South. By 1916, New York City was home to the largest urban African diaspora in North America. The Harlem Renaissance flourished during the era of Prohibition, coincident with a larger economic boom that saw the skyline develop with the construction of competing skyscrapers. New York City became the most populous city in the world in 1948, overtaking London, which had reigned for over a century. The difficult years of the Great Depression saw the election of reformer Fiorello LaGuardia as mayor and the fall of Tammany Hall after eighty years of political dominance.
Returning World War II veterans and immigrants from Europe created a postwar economic boom and the development of huge housing tracts in eastern Queens. New York emerged from the war unscathed and the leading city of the world, with Wall Street leading America's ascendance as the world's dominant economic power, the United Nations headquarters (completed in 1950) emphasizing New York's political influence, and the rise of abstract expressionism in the city precipitating New York's displacement of Paris as the center of the art world. In the 1960s, New York suffered from economic problems, rising crime rates and racial tension, which reached a peak in the 1970s.
In the 1980s, a resurgence in the financial industry improved the city's fiscal health. By the 1990s, racial tensions had calmed, crime rates dropped dramatically, and waves of new immigrants arrived from Asia and Latin America. Important new sectors, such as Silicon Alley, emerged in the city's economy and New York's population reached an all-time high in the 2000 census.
New York City comprises five boroughs, each of which is coextensive with a county: The Bronx, Brooklyn, Manhattan, Queens and Staten Island. With over 8.2 million residents within an area of 322 square miles (830 km²), New York City is the most densely populated major city in the United States.
Many of the city's neighborhoods and landmarks are known around the world. The Statue of Liberty greeted millions of immigrants as they came to America in the late 19th and early 20th centuries, at Ellis Island, a small part of which lies within the city. Wall Street, in Lower Manhattan, has been a dominant global financial center since World War II and is home to the New York Stock Exchange. The city has been home to several of the tallest buildings in the world, including the Empire State Building and the twin towers of the World Trade Center, which were destroyed in the September 11, 2001 attacks.
New York is the birthplace of many American cultural movements, including the Harlem Renaissance in literature and visual art, abstract expressionism (also known as the New York School) in painting, and hip hop, punk, salsa, and Tin Pan Alley in music. In 2005, nearly 170 languages were spoken in the city and 36% of its population was born outside the United States. With its 24-hour subway and constant bustling of traffic and people, New York is known as "The City That Never Sleeps;" it was first linked with "Gotham" by Washington Irving in 1807.
History of New York City.
The region was inhabited by about 5,000 Lenape Native Americans at the time of its European discovery in 1524 by Giovanni da Verrazzano, an Italian explorer in the service of the French crown, who called it New Angoulême. European settlement began with the founding of a Dutch fur trading settlement, later called New Amsterdam, on the southern tip of Manhattan in 1614. Dutch colonial Director-General Peter Minuit purchased the island of Manhattan from the Lenape in 1626 for a value of 60 guilders (legend, now disproved, says that Manhattan was purchased for $24 worth of glass beads). In 1664, the English conquered the city and renamed it "New York" after the English Duke of York and Albany. At the end of the Second Anglo-Dutch War the Dutch gained control of Run in exchange for the English controlling New Amsterdam (New York) in North America. By 1700, the Lenape population was diminished to 200.
New York City grew in importance as a trading port while under British rule. In 1754, Columbia University was founded under charter by King George II as King's College in Lower Manhattan. The city emerged as the theater for a series of major battles known as the New York Campaign during the American Revolutionary War. The Continental Congress met in New York City and in 1789 the first President of the United States, George Washington, was inaugurated at Federal Hall on Wall Street. In the 19th century, the city was transformed by immigration and development. A visionary development proposal, the Commissioners' Plan of 1811, expanded the city street grid to encompass all of Manhattan, and the 1819 opening of the Erie Canal connected the Atlantic port to the vast agricultural markets of the North American interior. By 1835, New York City had surpassed Philadelphia as the largest city in the United States. Local politics fell under the domination of Tammany Hall, a political machine supported by Irish immigrants. Public-minded members of the old merchant aristocracy lobbied for the establishment of Central Park, which became the first landscaped park in an American city in 1857. A significant free-black population also existed in Manhattan, as well as in Brooklyn. Slaves had been held in New York through 1827, but during the 1830s New York became a center of interracial abolitionist activism in the North.
Anger at military conscription during the American Civil War (1861–1865) led to the Draft Riots of 1863, one of the worst incidents of civil unrest in American history. In 1898, the modern City of New York was formed with the consolidation of Brooklyn (until then an independent city), the County of New York (which then included parts of the Bronx), the County of Richmond, and the western portion of the County of Queens. The opening of the New York City Subway in 1904 helped bind the new city together. Throughout the first half of the 20th century, the city became a world center for industry, commerce, and communication. However, this development did not come without a price. In 1904, the steamship General Slocum caught fire in the East River, killing 1,021 people on board. In 1911, the Triangle Shirtwaist Factory fire, the city's worst industrial disaster, took the lives of 146 garment workers and spurred the growth of the International Ladies' Garment Workers' Union and major improvements in factory safety standards.
In the 1920s, New York City was a major destination for African Americans during the Great Migration from the American South. By 1916, New York City was home to the largest urban African diaspora in North America. The Harlem Renaissance flourished during the era of Prohibition, coincident with a larger economic boom that saw the skyline develop with the construction of competing skyscrapers. New York City became the most populous city in the world in 1948, overtaking London, which had reigned for over a century. The difficult years of the Great Depression saw the election of reformer Fiorello LaGuardia as mayor and the fall of Tammany Hall after eighty years of political dominance.
Returning World War II veterans and immigrants from Europe created a postwar economic boom and the development of huge housing tracts in eastern Queens. New York emerged from the war unscathed and the leading city of the world, with Wall Street leading America's ascendance as the world's dominant economic power, the United Nations headquarters (completed in 1950) emphasizing New York's political influence, and the rise of abstract expressionism in the city precipitating New York's displacement of Paris as the center of the art world. In the 1960s, New York suffered from economic problems, rising crime rates and racial tension, which reached a peak in the 1970s.
In the 1980s, a resurgence in the financial industry improved the city's fiscal health. By the 1990s, racial tensions had calmed, crime rates dropped dramatically, and waves of new immigrants arrived from Asia and Latin America. Important new sectors, such as Silicon Alley, emerged in the city's economy and New York's population reached an all-time high in the 2000 census.


