Midtown Manhattan, along with Lower Manhattan, is one of the world's leading financial centers.
Economy
Midtown Manhattan
Midtown Manhattan | Economy
It, along with Lower Manhattan, is one of the world's leading financial centers. It is one of the world's leading financial centers It is a global hub of business and commerce, as a center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts Sorry. I cannot find the answer based on the context.
how many floors is the empire state building observation deck
user
3 floors.
assistant
where is it located?
user
Midtown Manhattan in New York City.
assistant
what is the earlier mentioned building used for?
user
Sorry. I cannot find the answer based on the context.
assistant
what kind of architecture does it follow?
user
Pre–World War II architecture.
assistant
did the design have any kind of change?
user
Yes, it was later increased to 60 and then 80 stories.
assistant
the place where you mentioned it is located, what is it's economics?
user
The city's economy accounts for most of the economic activity in both the states of New York and New Jersey. Manhattan is the world's leading center of banking, finance, and communication. It is home to the New York Stock Exchange (NYSE) on Wall Street. Many of the world's largest corporations are headquartered in Manhattan. The borough contained over 500 million square feet (46.5 million m) of office space in 2015, making it the largest office market in the United States. Midtown Manhattan, with nearly 400 million square feet (37.2 million m) that same year, is the largest central business district in the world.
Economy of New York City | Introduction
New York City and the surrounding New York metropolitan area dominate the economy of the state. Manhattan 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. Many of the world's largest corporations locate their home offices in Manhattan or in nearby Westchester County. Manhattan contained over 500 million square feet (46.5 million m) of office space in 2015, making it the largest office market in the United States, while Midtown Manhattan, with nearly 400 million square feet (37.2 million m) in 2015, is the largest central business district in the world.
Economy of New York (state) | Introduction
Midtown Manhattan, along with Lower Manhattan, is one of the world's leading financial centers.
Midtown Manhattan | Economy
According to "Forbes", in 2014, Manhattan was home to six of the top ten ZIP Codes in the United States by median housing price. Fifth Avenue in Midtown Manhattan commands the highest retail rents in the world, at US in 2017. In 2019, the most expensive home sale ever in the United States achieved completion in Manhattan, at a selling price of US$238 million, for a penthouse apartment overlooking Central Park.
Economy of New York City | Real estate
The economy of New York City encompasses the largest municipal and regional economy in the United States. Anchored by Wall Street in Lower Manhattan, New York City has been characterized as the world's premier financial center. It is home to the New York Stock Exchange (NYSE) and NASDAQ, the world's two largest stock exchanges by both market capitalization and trading activity. In 2012, the New York metropolitan area generated a gross metropolitan product (GMP) of over US$1.33 trillion with a population of 20.3 million people. The Combined Statistical Area produced a GMP of over US$1.55 trillion. Both are ranked first nationally by a wide margin and being roughly equivalent to the GDP of South Korea at less than half its population.
Economy of New York City | Introduction
New York City is a global hub of business and commerce, as a center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts in the United States; while Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. The Port of New York and New Jersey is also a major economic engine, handling record cargo volume in 2017, over 6.7 million TEUs. New York City's unemployment rate fell to its record low of 4.0% in September 2018. Many Fortune 500 corporations are headquartered in New York City, as are a large number of multinational corporations.
Economy of New York City | City economic overview
New York City is distinctive for its high concentrations of advanced service sector firms in the law, accountancy, banking and management consultancy fields. It is the top global center for the advertising industry, which is metonymously called "Madison Avenue". Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. Finance, high technology, real estate, insurance, and health care all form the basis of New York City's economy. The city is also the nation's most important center for mass media, journalism, and publishing. Also, it is the country's preeminent arts center. Creative industries such as digital media, advertising, fashion, design, and architecture account for a growing share of employment.
Economy of New York City | Introduction
Manhattan is the economic engine of New York City, with its 2.3 million workers in 2007 drawn from the entire New York metropolitan area accounting for almost two-thirds of all jobs in New York City. In the first quarter of 2014, the average weekly wage in Manhattan (New York County) was $2,749, representing the highest total among large counties in the United States. Manhattan's workforce is overwhelmingly focused on white collar professions, with manufacturing nearly extinct. Manhattan also has the highest per capita income of any county in the United States. In 2010, Manhattan's daytime population was swelling to 3.94 million, with commuters adding a net 1.48 million people to the population, along with visitors, tourists, and commuting students.
Manhattan | Economy
Economy of New York City
Outline of New York City | Economy and infrastructure of New York City
New York City possesses a strong competitive advantage in these industries. Despite declining, manufacturing remains consequential.
Economy of New York City | Introduction
Meanwhile, the Financial District of Lower Manhattan was left out of the economic boom of financial industries there. Lower Manhattan also saw less economic growth than Midtown because many workers moved to the suburbs, and they found it easier to commute to midtown than to downtown. The writer Paul Goldberger states that the Financial District, in particular, was devoid of "almost any kind of urban amenity", including entertainment, cultural hubs, or housing. Commercial industries along the ports of Lower Manhattan were also being replaced with industries elsewhere. David Rockefeller, who led urban renewal efforts in Lower Manhattan, constructed the One Chase Manhattan Plaza in a bid to bring jobs back.
Construction of the World Trade Center | Original plans
New York City is a global hub of business and commerce, as a center for banking and finance, retailing, world trade, transportation, tourism, real estate, new media, traditional media, advertising, legal services, accountancy, insurance, theater, fashion, and the arts in the United States; while Silicon Alley, metonymous for New York's broad-spectrum high technology sphere, continues to expand. The Port of New York and New Jersey is also a major economic engine, handling record cargo volume in 2017, over 6.7 million TEUs. New York City's unemployment rate fell to its record low of 4.0% in September 2018. Many Fortune 500 corporations are headquartered in New York City, as are a large number of multinational corporations.
New York City | Economy
In July 2015, a four-bedroom penthouse apartment sold for $6.44 million.
23rd Street (Manhattan) | Economy
Economy of New York
Outline of New York | Economy and infrastructure of New York
Finance professor Charles R. Geisst wrote that the exchange has become "inextricably intertwined into New York's economy". Wall Street pay, in terms of salaries and bonuses and taxes, is an important part of the economy of New York City, the tri-state metropolitan area, and the United States. Anchored by Wall Street, New York City has been called the world's most economically powerful city and leading financial center. As such, a falloff in Wall Street's economy could have "wrenching effects on the local and regional economies". In 2008, after a downturn in the stock market, the decline meant $18 billion less in taxable income, with less money available for "apartments, furniture, cars, clothing and services".
Wall Street | In the New York economy
In recent years, as real estate and globalization pressures have increased, the remaining manufacturers have become more design-oriented and single customer-focused. To boot, production methods have become cleaner and more technology-driven.
Economy of New York City | Manufacturing
60% of these employees live in the city, 32% are immigrants, 51% hold only a bachelor's degree, and 39% hold an advanced degree. This high earning industry contributes significantly to the general economy of New York City, with 1 in 10 jobs being associated with the industry, and an estimated three jobs created per one job created in the securities industry. Many large financial companies are headquartered in New York City, and the city is also home to a burgeoning number of financial startup companies. Lower Manhattan is home to the New York Stock Exchange, on Wall Street, and the NASDAQ, at 165 Broadway, representing the world's largest and second largest stock exchanges, respectively, when measured both by overall average daily trading volume and by total market capitalization of their listed companies.
Economy of New York City | Wall Street
But there were signs that Manhattan property prices were rebounding with price rises of 9% annually in 2010, and bonuses were being paid once more, with average bonuses over $124,000 in 2010.
Wall Street | In the New York economy
Lower Manhattan is the fourth largest business district in the United States, after Midtown Manhattan, the Chicago Loop, and Washington, D.C. Anchored by Wall Street, New York City functions as the financial capital of the world and has been called the world's most economically powerful city. Lower Manhattan is home to the New York Stock Exchange, on Wall Street, and the corporate headquarters of NASDAQ, at 165 Broadway, representing the world's largest and second largest stock exchanges, respectively, when measured both by overall average daily trading volume and by total market capitalization of their listed companies in 2013. Wall Street investment banking fees in 2012 totaled approximately US$40 billion.
Lower Manhattan | Economy
Some of Lower Manhattan office space was damaged or destroyed. Many wondered whether these jobs would return, and if the damaged tax base would recover. Studies of the economic effects of 9/11 show the Manhattan office real-estate market and office employment were less affected than first feared, because of the financial services industry's need for face-to-face interaction.
September 11 attacks | Economic
The commuter influx of 1.61 million workers coming into Manhattan was the largest of any county or city in the country, and was more than triple the 480,000 commuters who headed into second-ranked Washington, D.C.
Manhattan | Economy
The renovation of 1049 Fifth Avenue was undertaken during a dismal economic climate for luxury real estate. The same economic circumstances that overtook Gerald Guterman had not yet subsided, and many top real estate development companies were failing. One of the prestige luxury addresses in Manhattan, Trump Palace, was struggling, and several recently constructed residential high-rises sat empty. Prices for New York condominiums had fallen at least 25 percent since 1989, and plummeted a whopping 4.6 percent just in the second quarter of 1991. Worse, the malaise extended well beyond New York. The world was in the midst of a severe economic downturn, the recession of 1991.
1049 Fifth Avenue | Economic climate
Economy is located at (40.638466, -80.184891). According to the United States Census Bureau, the borough has a total area of , of which, of it is land and of it (0.39%) is water.
Economy, Pennsylvania | Geography
Frank Building in Midtown in 2017.
Midtown Detroit | Economy
Its factories dominated the garment industry and some high technology industries of the second industrial revolution such as sewing machines and pianos. It was an important center for other hi-tech items such as hard rubber products and electrical goods. Petroleum and chemical works sprang up along Newtown Creek, Bayonne, New Jersey, and other industrial suburbs.
History of New York City (1855–1897) | Economy
New York's most important economic sector lies in its role as the headquarters for the U.S. financial industry, metonymously known as "Wall Street". Anchored by Wall Street, in the Financial District of Lower Manhattan, New York has been called both the most economically powerful city and the leading financial center of the world, and the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of the city's private sector jobs, 8.5 percent (US$3.8 billion) of its tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700.
New York metropolitan area | Wall Street
Finance, international trade, new and traditional media, real estate, education, fashion and entertainment, tourism, biotechnology, and manufacturing are the leading industries in the area. Along with its wealth, the area has a cost of living that is among the highest in the United States.
New York metropolitan area | Economy
The business revival stimulated tourism and attracted residents, some taking second homes in the city. It has become known for its active arts scene, restaurants, art galleries and nightlife, in addition to the antique shops.
Hudson, New York | Economy
The economy recovered by 1940 and flourished during the World War II years. The main bases of the economy were construction, ocean shipping, garments, machine tools, and printing. Labor unions rose and fell and rose again. New York boasted the nation's strongest financial system, a large upscale market for luxury goods, and a flourishing high culture based on many philanthropists, museums, galleries, universities, artists, writers, and publications.
History of New York City (1898–1945) | Introduction
The economy of the State of New York is reflected in its gross state product in 2018 of $1.7 trillion, ranking third in size behind the larger U.S. states of California and Texas. If New York State were an independent nation, it would rank as the 10th largest economy in the world. However, in 2013, the multi-state, New York City-centered Metropolitan Statistical Area produced a gross metropolitan product (GMP) of nearly US$1.39 trillion, while in 2012, the corresponding Combined Statistical Area generated a GMP of over US$1.15 trillion, both ranking first nationally by a wide margin and behind the GDP of only twelve nations and eleven nations, respectively.
Economy of New York (state) | Introduction
Residents in the area have sought to have a supermarket, a movie theater, a pharmacy, more schools, and a "good diner". The discount retailer named "Job Lot" used to be located at the World Trade Center but moved to Church Street; merchants bought extra unsold items at steep prices and sold them as a discount to consumers, and shoppers included "thrifty homemakers and browsing retirees" who "rubbed elbows with City Hall workers and Wall Street executives"; but the firm went bust in 1993.
Financial District, Manhattan | 19th and 20th centuries
New York City's most important economic sector lies in its role as the headquarters for the U.S. financial industry, metonymously known as "Wall Street". The city's securities industry, accounting for 181,300 jobs in 2018, continues to form the largest segment of the city's financial sector and an important economic engine, accounting for about 5% of the city's private sector jobs in 2018, 6% (US$3.7 billion) of city tax revenue, 17% (US$ 13.2 billion) of state tax revenue, and a fifth of the city's total wages. Employees in the securities industry earned an average salary (including bonuses) of $398,600 in 2018.
Economy of New York City | Wall Street
The economic effects were mainly on the economy's export sectors. The city's GDP was estimated to have declined by $27.3 billion for the last three months of 2001 and all of 2002. The U.S. government provided $11.2 billion in immediate assistance to the Government of New York City in September 2001, and $10.5 billion in early 2002 for economic development and infrastructure needs. Also hurt were small businesses in Lower Manhattan near the World Trade Center, 18,000 of which were destroyed or displaced, resulting in lost jobs and their consequent wages. Assistance was provided by Small Business Administration loans, federal government Community Development Block Grants, and Economic Injury Disaster Loans.
September 11 attacks | Economic
Real estate is a major force in Midtown Manhattan's economy, and indeed the city's, as the total value of all New York City property was estimated at US$914.8 billion for the 2015 fiscal year. Manhattan has perennially been home to some of the nation's, as well as the world's, most marketable real estate, including the Time Warner Center, which had the highest-listed market value in the city in 2006 at US$1.1 billion, to be subsequently surpassed in October 2014 by the Waldorf Astoria New York, which became the most expensive hotel ever sold after being purchased by the Anbang Insurance Group, based in China, for .
Midtown Manhattan | Real estate
One such Art Deco taxpayer was the East River Savings Bank on 22 Cortlandt Street, which replaced a fifteen-story building from the 1890s. The "New York Times" dubbed the lot "the most valuable piece of New York real estate for a tax payer in the city." Despite being a more modest building, the structure is appointed with polished stone eagles, interior marble, and at one time featured a mural of the East River. Completed speculative buildings faced issues in the difficult economy—the Empire State Building took more in as a tourist attraction than from tenants, and office buildings across Midtown felt pinched by the Rockefeller Center's aggressive tactics to lure and keep tenants.
Art Deco architecture of New York City | Commercial
Manhattan contained approximately 520 million square feet (48.1 million m) of office space in 2013, making it the largest office market in the United States, while Midtown Manhattan is the largest central business district in the nation.
New York (state) | Wall Street
Since New York's financial industry provides almost one-fourth of all income produced in the city, and accounts for 10% of the city's tax revenues and 20% of the state's, the downturn has had huge repercussions for government treasuries. New York's mayor Michael Bloomberg reportedly over a four-year period dangled over $100 million in tax incentives to persuade Goldman Sachs to build a 43-story headquarters in the Financial District near the destroyed World Trade Center site. In 2009, things looked somewhat gloomy, with one analysis by the Boston Consulting Group suggesting that 65,000 jobs had been permanently lost because of the downturn.
Wall Street | In the New York economy
J. P. Morgan created giant trusts; John D. Rockefeller's Standard Oil moved to New York. Between 1860 and 1920, the economy changed from "agricultural to industrial to financial" and New York maintained its leadership position despite these changes, according to historian Thomas Kessner. New York was second only to London as the world's financial capital.
Wall Street | 19th century
New York's gross state product in 2018 was $1.7 trillion. If New York State were an independent nation, it would rank as the 11th largest economy in the world. However, in 2013, the multi-state, New York City-centered metropolitan statistical area produced a gross metropolitan product (GMP) of nearly $1.4 trillion, while in 2012, the corresponding combined statistical area generated a GMP of over $1.7 trillion, both ranking first nationally by a wide margin and behind the GDP of only nine nations.
New York (state) | Economy
New York grew as an economic center, first as a result of Alexander Hamilton's policies and practices as the first Secretary of the Treasury and, later, with the opening of the Erie Canal in 1825, which connected the Atlantic port to the vast agricultural markets of the North American interior. Immigration resumed after being slowed by wars in Europe, and a new street grid system, the Commissioners' Plan of 1811, expanded to encompass all of Manhattan. Early in the 19th century, the landfill was used to expand Lower Manhattan from the natural Hudson shoreline at Greenwich Street to West Street.
Lower Manhattan | 19th century
The 9/11 attacks led to a temporary exodus of business from Lower Manhattan to places such as Midtown Manhattan, Jersey City, and Brooklyn, as well as elsewhere, along with the need to reposition the broadcasting antennas of several television channels. About 430,000 job-months and $2.8 billion in wages were lost in the three months after the attacks. The economic effects were mainly on the economy's export sectors. The city's GDP was estimated to have declined by $27.3 billion for the last three months of 2001 and all of 2002. The U.S. government provided $11.2 billion in immediate assistance to the government of New York City in September 2001, and $10.5 billion in early 2002 for economic development and infrastructure needs.
History of New York City (1978–present) | September 11, 2001
Barr has also debunked the misconception that Manhattan's geological conditions have been the reason there are few skyscrapers between lower Manhattan and Midtown. Rather, Barr's work demonstrates that Midtown's origin was due to the city's demographic evolution and the fact that Manhattan is a long, but narrow, island that concentrated economic activity to a much greater degree, as compared to other cities.
Jason Barr | Introduction
Long commutes to work and shopping are an everyday reality here.
Steineberg | Economy
In 2015, fewer than 23,000 New York City residents were employed in the manufacture of garments, accessories, and finished textiles, although efforts to revive the industry were underway. Food processing is a $5 billion industry that employs more than 19,000 residents.
New York City | Economy
Estimates vary about the number and quality of financial jobs in the city. One estimate was that Wall Street firms employed close to 200,000 persons in 2008. Another estimate was that in 2007, the financial services industry which had a $70 billion profit became 22 percent of the city's revenue. Another estimate (in 2006) was that the financial services industry makes up 9% of the city's work force and 31% of the tax base. An additional estimate from 2007 by Steve Malanga of the Manhattan Institute was that the securities industry accounts for 4.7 percent of the jobs in New York City but 20.7 percent of its wages, and he estimated there were 175,000 securities-industries jobs in New York (both Wall Street area and midtown) paying an average of $350,000 annually.
Wall Street | In the New York economy
Real estate is a major force in the city's economy, as the total value of all New York City property was assessed at US$1.072 trillion for the 2017 fiscal year, an increase of 10.6% from the previous year with 89% of the increase coming from market effects. The Time Warner Center is the property with the highest-listed market value in the city, at US$1.1 billion in 2006. New York City is home to some of the nation's—and the world's—most valuable real estate. 450 Park Avenue was sold on July 2, 2007 for US$510 million, about $1,589 per square foot ($17,104/m²), breaking the barely month-old record for an American office building of $1,476 per square foot ($15,887/m²) set in the June 2007 sale of 660 Madison Avenue.
Economy of New York City | Real estate
It has become a destination and residence for retirees.
Ithaca, New York | Economy
Some American stock exchanges stayed closed for the rest of the week following the attack and posted enormous losses on reopening, especially in the airline and insurance industries. The destruction of billions of dollars' worth of office space caused serious damage to the economy of Lower Manhattan.
Outline of the September 11 attacks | Economic
Fifth Avenue also is home to New York's fifth most photographed building, the Apple Store. Many airlines at one time had ticketing offices along Fifth Avenue. In the years leading up to 1992, the number of ticketing offices along Fifth Avenue decreased. Pan American World Airways went out of business, while Air France, Finnair, and KLM moved their ticket offices to other areas in Midtown Manhattan.
Fifth Avenue | Economy
Lower Manhattan is home to the New York Stock Exchange (NYSE), on Wall Street, and the NASDAQ, at 165 Broadway, representing the world's largest and second largest stock exchanges, respectively, when measured both by overall share trading value and by total market capitalization of their listed companies in 2013. The NYSE American (formerly the American Stock Exchange, AMEX), New York Board of Trade, and the New York Mercantile Exchange (NYMEX) are also located downtown. In July 2013, NYSE Euronext, the operator of the New York Stock Exchange, took over the administration of the London interbank offered rate from the British Bankers Association.
Manhattan | Financial sector
Manufacturing accounts for a significant share of employment. Garments, chemicals, metal products, processed foods, and furniture are some of the principal products. The food-processing industry is the most stable major manufacturing sector in the city. Food making is a $5 billion industry that employs more than 19,000 residents, many of them immigrants who speak little English. Chocolate is New York City's leading specialty-food export, with $234 million worth of exports each year. There are over 233,000 manufacturing jobs in more than 10,000 New York City industrial businesses , with the highest concentration of industrial employment in Manhattan. This includes manufacturing, warehousing, utilities, and transportation.
Economy of New York City | Manufacturing
Much of the population growth is due to immigration.
Chinatown, Manhattan | Economy
New York City's most important economic sector lies in its role as the headquarters for the U.S. financial industry, metonymously known as "Wall Street". The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5.0 percent of the city's private sector jobs, 8.5 percent ($3.8 billion) of its tax revenue, and 22 percent of the city's total wages, including an average salary of $360,700. Many large financial companies are headquartered in New York City, and the city is also home to a burgeoning number of financial startup companies.
New York City | Wall Street
The present building was built in 2013.
Ginza | Economy
In the 1950s, the heavy economy began to develop in the city. In 1959 a mechanical workshop for boilers and tools was built in the city.Today, the city has a large machine-building plant, automobile plant and metallurgical plant
Oskemen | Economy
economy. New York also leads in hedge fund management; private equity; and the monetary volume of mergers and acquisitions. Several investment banks and investment managers headquartered in Manhattan are important participants in other global financial centers. New York is also the principal commercial banking center of the United States.
New York City | Wall Street
Yet other sectors of the economy have outdistanced manufacturing and are seeing large increases. Educational and health services added over 30,400 jobs in 2006 and over 20,500 jobs have been added in the professional and business (mostly finance) arena.
Economy of Buffalo, New York | Employment
East Coast and the largest in the country in terms of leasable retail space.
Economy of Philadelphia | Shopping
In New York City, approximately 430,000 jobs were lost and there were $2.8 billion in lost wages over the three months following the 9/11 attacks. The economic effects were mainly focused on the city's export economy sectors. The GDP for New York City was estimated to have declined by $30.3 billion over the last three months of 2001 and all of 2002. The Federal government provided $11.2 billion in immediate assistance to the Government of New York City in September 2001, and $10.5 billion in early 2002 for economic development and infrastructure needs. The 9/11 attacks also had great impact on small businesses in Lower Manhattan, located near the World Trade Center.
Economic effects of the September 11 attacks | New York City
After a steep economic decline in the 1960s and '70s, following the loss of jobs due to restructuring in the manufacturing sector, the city has undergone a significant revival. The economy has shifted to one based on tourism, services and related retail. Attracted by its quality architecture, a group of antiques dealers opened shops on the city's main thoroughfare, Warren Street, in the mid-1980s. Among these were the Hudson Antiques Center, founded by Alain Pioton, and the English Antiques Center. In the early 21st century, the city has nearly seventy shops now, represented by the Hudson Antiques Dealers Association (HADA).
Hudson, New York | Economy
The economy in Havixbeck consists mainly of small and medium-sized enterprises, mainly located in two major industrial areas.
Havixbeck | Economics and infrastructure
Midtown Manhattan is the central portion of the New York City borough of Manhattan. Midtown is home to some of the city's most prominent buildings, including the Empire State Building, the Chrysler Building, the Hudson Yards Redevelopment Project, the headquarters of the United Nations, Grand Central Terminal, and Rockefeller Center, as well as tourist destinations such as Broadway and Times Square. Midtown Manhattan is the largest central business district in the world and ranks among the most expensive pieces of real estate; Fifth Avenue in Midtown Manhattan commands the world's highest retail rents, with average annual rents at US in 2017.
Midtown Manhattan | Introduction
The economy of Ithaca is based on education, and further supported by agriculture, technology, and tourism. As of 2006, Ithaca has continued to have one of the few expanding economies in New York State outside New York City. It draws commuters for work from the neighboring rural counties of Cortland, Tioga, and Schuyler, as well as from the more urbanized Chemung County. Ithaca has tried to maintain its traditional downtown shopping area with its pedestrian orientation; this includes the Ithaca Commons pedestrian mall and Center Ithaca, a small mixed-use complex built at the end of the urban renewal era. Another commercial center, Collegetown, is located next to the Cornell campus.
Ithaca, New York | Economy
New York is by far the most important center for American mass media, journalism, and publishing. The city is the top media market in the United States, with 7% of the country’s television-viewing households. Three of the Big Four music recording companies have their headquarters in the city. More than 200 newspapers and 350 consumer magazines have an office in the city. The book publishing industry alone employs 25,000 people. For these and other reasons, New York is often called "the media capital of the world".
Economy of New York City | Media
Home Economics Building may refer to: (by state then city)
Home Economics Building | Introduction
The state also has a large manufacturing sector, which includes printing and publishing and the production of garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics and glass (the southern tier of counties), microchips and nanotechnology (Albany), and photographic equipment (Rochester). New York's agricultural outputs comprise dairy products, cattle and other livestock, vegetables, nursery stock, and apples.
Economy of New York (state) | Introduction
Midtown Manhattan is the largest central business district in the nation based on office space, while Lower Manhattan is the third-largest (after Chicago's Loop).
Manhattan | Real estate
It was applied on the average price over a period or a window within which prices were free to fluctuate.
New Economic Mechanism | Prices
However, due to the high price of retail spaces in Midtown, there are also many vacant storefronts in the neighborhood. Midtown is the country's largest commercial, entertainment, and media center, and also a growing financial center. The majority of New York City's skyscrapers, including its tallest hotels and apartment towers, are in Midtown. The area hosts commuters and residents working in its offices, hotels, and retail establishments, tourists and students. Times Square, the brightly illuminated hub of the Broadway Theater District, is a major center of the world's entertainment industry. Sixth Avenue also has the headquarters of three of the four major U.S.
Midtown Manhattan | Introduction
Between 1995 and 2005, the sector grew at an annual rate of about 6.6% annually, a respectable rate, but that other financial centers were growing faster. Another estimate, made in 2008, was that Wall Street provided a fourth of all personal income earned in the city, and 10% of New York City's tax revenue. The city's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine, accounting in 2012 for 5 percent of private sector jobs in New York City, 8.5 percent (US$3.8 billion) of the city's tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700.
Wall Street | In the New York economy
The Rochester Department of Economics is an academic department of the University of Rochester, in Rochester, New York.
University of Rochester Economics Department | Introduction
A FIRE economy is any economy based primarily on the finance, insurance, and real estate sectors. Finance, insurance, and real estate are United States Census Bureau classifications. Barry Popik describes some early uses as far back as 1982. Since 2008, the term has been commonly used by Michael Hudson and Eric Janszen. It is New York City's largest industry and a prominent part of the service industry in the United States overall economy and other Western developed countries.
FIRE economy | Introduction
The New York City regional economy is the largest in the United States and the second-largest in the world, behind the Greater Tokyo Area. In 2015, the CSA had a GDP of $1.83 trillion, which would rank 8th among countries. Many Fortune 500 corporations are headquartered in New York, as are a large number of foreign corporations. One out of ten private sector jobs in the city is with a foreign company. In 2012 and 2015, New York topped the first and second "Global Economic Power Index" lists, respectively, as published by "The Atlantic", with cities ranked according to criteria reflecting their presence on five different lists as published by five separate entities.
New York metropolitan area | Economy
Brooklyn's job market is driven by three main factors: the performance of the national and city economy, population flows and the borough's position as a convenient back office for New York's businesses. Forty-four percent of Brooklyn's employed population, or 410,000 people, work in the borough; more than half of the borough's residents work outside its boundaries. As a result, economic conditions in Manhattan are important to the borough's jobseekers. Strong international immigration to Brooklyn generates jobs in services, retailing and construction. Since the late 20th century, Brooklyn has benefited from a steady influx of financial back office operations from Manhattan, the rapid growth of a high-tech and entertainment economy in DUMBO, and strong growth in support services such as accounting, personal supply agencies, and computer services firms.
Brooklyn | Economy
In the late 19th and early 20th centuries, the corporate culture of New York was a primary center for the construction of early skyscrapers, and was rivaled only by Chicago on the American continent. There were also residential sections, such as the Bowling Green section between Broadway and the Hudson River, and between Vesey Street and the Battery. The Bowling Green area was described as "Wall Street's back yard" with poor people, high infant mortality rates, and the "worst housing conditions in the city". As a result of the construction, looking at New York City from the east, one can see two distinct clumps of tall buildings—the Financial District on the left, and the taller Midtown neighborhood on the right.
Financial District, Manhattan | 19th and 20th centuries
"Economy of America" or "American Economy" may refer to:
Economy of America | Introduction
One out of ten private sector jobs in the city is with a foreign company. New York City has been ranked first among cities across the globe in attracting capital, business, and tourists. This ability to attract foreign investment helped New York City top the FDi Magazine American Cities of the Future ranking for 2013. , the global advertising agencies of Omnicom Group and Interpublic Group, both based in Manhattan, had combined annual revenues of approximately US$21 billion, reflecting New York City's role as the top global center for the advertising industry, which is metonymously known as "Madison Avenue". The city's fashion industry provides approximately 180,000 employees with $11 billion in annual wages.
Economy of New York City | City economic overview
Manhattan's economy is heavily based on public entities. Kansas State University is the largest employer in town, and its approximately 24,000 students help support the retail and entertainment venues in the city. The second-largest employer in Manhattan is the city school district. Additionally, many civilians and military personnel employed at nearby Fort Riley also live in Manhattan and support its economy, including more than 3,500 civilian Fort Riley employees. Finally, most of the 150 employees in the Kansas Department of Agriculture work in a new office building in Manhattan, next to the future site of the National Bio and Agro-Defense Facility (NBAF).
Manhattan, Kansas | Economy
One in twenty residents (5%) were unemployed, compared to 7% in Manhattan and 9% in New York City. Rent burden, or the percentage of residents who have difficulty paying their rent, is 41% in Midtown Manhattan, compared to the boroughwide and citywide rates of 45% and 51% respectively. Based on this calculation, , Midtown Manhattan is considered to be high-income relative to the rest of the city and not gentrifying.
Midtown Manhattan | Demographics
Many have chosen to open headquarters in New York in anticipation of eventual listing on the respective New York stock exchanges and entering U.S. capital markets. New York City currently boasts seven Chinese daily newspapers, two Chinese language television stations, and the largest Chinese neighborhood in the United States. New York area airports provide 12 daily flights to Hong Kong and five to Beijing, the most flights out of the eastern half of the United States. In one measure of how international New York City's economy is, data compiled by the agents Knight Frank show foreign owners make up 34% of sales in the city's prime residential market.
Economy of New York City | Trade
Queens has the second-largest economy of New York City's five boroughs, following Manhattan. In 2004, Queens had 15.2% (440,310) of all private-sector jobs in New York City and 8.8% of private-sector wages. Queens has the most diversified economy of the five boroughs, with occupations spread relatively evenly across the health care, retail trade, manufacturing, construction, transportation, and film and television production sectors, such that no single sector is overwhelmingly dominant. The diversification in Queens' economy is reflected in a large amount of employment in the export-oriented portions of its economy—such as transportation, manufacturing, and business services—that serve customers outside the region.
Queens | Economy
The town has a sugar processing plant, that makes up most of its economy.
Zhansugirov | Economy
It's our own mistake. They say *creative economy', and that's a contradiction. When the word economy comes into it ... you reduce everything to money. What we need now are good and knowledgeable patrons."
Iwan Tirta | Batik design
Manufacturing jobs average $41,000 annually (NYS DOL, 2nd Qtr 2005), about $10,000 more than comparable jobs in retail or restaurants. The manufacturing sector has the highest percentage of first-generation immigrants making up 64% of the workforce (NYC Dept. City Planning) and African Americans comprising 78% of the production workforce (2004 American Community Survey). These are small businesses, with an average size of 21 employees (NYS DOL, 2nd Qtr 2005). Examples of goods manufactured in the city include Broadway costumes, custom-made cabinets, croissants for hotels, and wooden crates for shipping fine art. These items are labor-intensive and require collaboration between the end-user and the manufacturer.
Economy of New York City | Manufacturing
A requirement of the New York Stock Exchange was that brokerage firms had to have offices "clustered around Wall Street" so clerks could deliver physical paper copies of stock certificates each week. There were some indications that midtown had been becoming the locus of financial services dealings even by 1911. But as technology progressed, in the middle and later decades of the 20th century, computers and telecommunications replaced paper notifications, meaning that the close proximity requirement could be bypassed in more situations. Many financial firms found that they could move to Midtown Manhattan, only four miles away, and still operate effectively.
Wall Street | Versus Midtown Manhattan
Manhattan's most important economic sector lies in its role as the headquarters for the U.S. financial industry, metonymously known as Wall Street. The borough's securities industry, enumerating 163,400 jobs in August 2013, continues to form the largest segment of the city's financial sector and an important economic engine for Manhattan, accounting in 2012 for 5 percent of private sector jobs in New York City, 8.5 percent (US$3.8 billion) of the city's tax revenue, and 22 percent of the city's total wages, including an average salary of US$360,700. Wall Street investment banking fees in 2012 totaled approximately US$40 billion, while in 2013, senior New York City bank officers who manage risk and compliance functions earned as much as US$324,000 annually.
Manhattan | Financial sector
Given the concern about economic inequality among mainstream academics and commentators, especially since the Great Recession and the release of Thomas Piketty's bestselling "Capital in the Twenty-First Century", the institute has produced several pieces of research on this and the related issue of economic mobility in the U.S. In 2014, former senior fellow Scott Winship produced a report, "Inequality Does Not Reduce Prosperity", which examined evidence from across the globe. This report concluded that larger increases in inequality correspond with sharper rises in living standards for the middle class and poor alike, while greater inequality in developed nations tends to accompany stronger economic growth.
Manhattan Institute for Policy Research | Economics
An example would be the news organization, Reuters Group, which occupies 3 separate facilities there, but shuttered its sites when it was acquired by the Thomson Corporation to become Thomson Reuters, in 2008. By sight alone, it appears that about 20-30% of the properties in the industrial park have been vacated.
Economy of Long Island | Other industries
As a center of many industries, including finance, fintech, international trade, news and traditional media, real estate, education, fashion, entertainment, tourism, biotechnology, law, and manufacturing, the New York metropolitan region is one of the most important economic regions in the world. , the New York metropolitan area is estimated to produce a gross metropolitan product (GMP) of $2.0 trillion. If the New York metropolitan area were a sovereign state, it would have the eighth largest economy in the world. Metropolitan New York is home to the highest number of billionaires of any metropolis in the world. According to "Forbes", in 2014, the New York metropolitan area was home to eight of the top ten ZIP codes in the United States by median housing price, with six in Manhattan alone.
New York metropolitan area | Introduction
Of the working population, 10.2% used public transportation to get to work, and 61.5% used a private car.
Etziken | Economy
New York ranks ahead of Paris, where such sales account for 27%, Hong Kong 13%, and Sydney 9%. London, however, is the most cosmopolitan world city in terms of property ownership; more than 51% of homes there worth more than £2m which is also $3.8m or roughly 3m euros sold in 2005 have gone to overseas buyers from Russia, the Middle East and elsewhere.
Economy of New York City | Trade
Of the working population, 7.4% used public transportation to get to work, and 72.3% used a private car.
Montagny, Fribourg | Economy
Real estate is a major force in Manhattan's economy, and indeed the city's, as the total value of all New York City property was assessed at US$914.8 billion for the 2015 fiscal year. Manhattan has perennially been home to some of the nation's, as well as the world's, most valuable real estate, including the Time Warner Center, which had the highest-listed market value in the city in 2006 at US$1.1 billion, to be subsequently surpassed in October 2014 by the Waldorf Astoria New York, which became the most expensive hotel ever sold after being purchased by the Anbang Insurance Group, based in China, for .
Manhattan | Real estate
Although Irvington is still a suburban "bedroom community", with a large number of people commuting into New York City to work, there are also several notable businesses and institutions located in the village, such as:
Irvington, New York | Economy
In 2015, fewer than 23,000 New York City residents were employed in the manufacture of garments, accessories, and finished textiles, although efforts to revive the industry were underway. As of 2009, there were slightly fewer than 1,600 garment manufacturing businesses in the city, of which about a quarter were located in or around the Garment District, which has about of manufacturing space. Growth of the city's manufacturing industry has occurred in Brooklyn Army Terminal at Sunset Park, Brooklyn.
Economy of New York City | Garments
Companies that used to have their headquarters in Midtown Manhattan include American Airlines, American Comics Group, American Overseas Airlines, Central Park Media, Eastern Air Lines, GoodTimes Entertainment, LJN, NewKidCo, Pan American World Airways, Philip Morris Companies (now Altria Group), Trans Caribbean Airways, and Trans World Airlines. In 1997, Aer Lingus announced that it was moving its North American headquarters from Midtown to Melville, New York, in Suffolk County on Long Island.
Midtown Manhattan | Former economic operations
An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location in various countries Economy may also refer to:
Economy (disambiguation) | Introduction
One study, controlling for relevant factors, finds "that properties exposed to more intense Stop & Frisk activity sold for significantly lower price."
Stop-and-frisk in New York City | Economy
New York City Economic Development Corporation (NYCEDC) is a nonprofit corporation whose stated mission is to promote economic growth in New York City, especially through real estate development. It is the City's official economic development corporation and merged with the New York City Economic Growth Corporation in 2012. Based out of Lower Manhattan, its formation followed recommendations from the consulting firm McKinsey & Company.
New York City Economic Development Corporation | Introduction
It is a grade I listed building.
Rushbury | Economic History