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Memorial Day 
New York New York is a state in the northeastern United States. It is sometimes called New York State when there is need to distinguish it from New York City. Because of the preponderance of the population concentrated in the southern portion around New York City, the state is often regionalized into Upstate and Downstate. Economy New York City dominates 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. Bureau of Economic Analysis estimates that in 2004, the total gross state product was $963.5 billion, ranking 3rd behind California and Texas. If New York were a nation, it would rank as the 16th largest economy in the world, behind South Korea. The state economy grew 3.3%, slightly slower than the 3.5% growth rate for the US. It was the 25th fastest growing economy in the US in 2005. Its 2005 per capita personal income was $40,507,an increase of 5.9% from 2004, placing it 5th in the nation behind Maryland, and 8th 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. Many of the world's largest corporations locate their headquarter's home offices in Manhattan or in nearby Westchester County, New York. The state also has a large manufacturing sector which includes printing and the production of garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics (the southern tier of counties) and photographic equipment (Rochester). There is a moderately large saltwater commercial fishery located along the Atlantic side of Long Island. The principal catches by value are clams, lobsters, squid, and flounder. There used to be a large oyster fishery in New York waters as well, but at present, oysters comprise only a small portion of the total value of seafood harvested. Perhaps the best known aspect of the fishing sector is the famous Fulton Fish Market in New York City, which distributes not only the New York catch but imported seafood from all over the world. The Fulton Fish Market has been moved from Fulton Street in Manhattan to The Bronx. New York's mining sector is concentrated in three areas. The first is near New York City. Primarily, this area specializes in construction materials for the many projects in the city, but it also contains the emery mines of Westchester County, one of two locations in the U.S. where that mineral is extracted. The second area is the Adirondack Mountains. This is an area of very specialized products, including talc, industrial garnets, and zinc. It should be noted that the Adirondacks are not part of the Appalachian system, despite their location, but are structurally part of the mineral-rich Canadian Shield. In the inland southwestern part of the state, in the Allegheny Plateau, is a region of drilled wells. The only major liquid output at present is salt in the form of brine; however, there are also small to moderate petroleum reserves in this area. New York exports a wide variety of goods such as foodstuffs, commodities, minerals, manufactured goods, cut diamonds, and automobile parts. New York's top 5 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. Canada has become a very important economic partner of New York. 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$487M in 2004 while visiting the state. This figure is predicted to increase due to the stronger Canadian dollar. Source: Wikipedia.org - English |
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