ECONOMY OF NEW YORKDescriptive Essay: Economy of New York
New York State ranks third in the U.S. in terms of gross domestic product (after
California and Texas). If New York were an independent state, then it would occupy the
sixteenth place in the world’s GDP rank.
In the state of minerals, set a production of various industrial and agricultural products, as
well as highly developed tourism. The main share of state revenues provides New York City,
which is home to about 70% of the state's citizens.
New York City is the largest center of finance and banking in the United States. Located
on the famous Wall Street, New York Stock Exchange is the largest in the world. Here, in the
financial district of Manhattan, based the headquarters of many well-known banks, financial
institutions and insurance companies. Also in New York City operate many companies that
specialize in printing, publishing, the fashion industry, media, law, design, architecture,
information technology, telecommunications and many others.
In the Southeast of the state, district of New York City, companies mined macadam,
limestone and sand. Also, here is located one of the two emery fields in the United States (used
for the production of abrasives). In the Adirondack Mountains in the north of state, companies
mined zinc ores, grenades (second among U.S. states in terms of production) and talc (fourth
place in America). In the southern districts of the state, on the Allegheny Plateau, companies
mined salt (third place in the United States) and in a relatively small quantities oil and gas. New
York - the only one state in the U.S., where produces mineral wollastonite, widely used in the
manufacture of plastics, ceramics, and various insulating materials
ECONOMY OF NEW YORK
The second most populous city of New York, Buffalo, ranked sixth in the U.S. in terms of
steel production. In addition, Buffalo is the largest inland harbor of the United States and the
second largest railway junction. In recent years, Buffalo has become one of the country's largest
center for biotechnology and the human genome. Also, here is located the one of the country's
largest centers of Cancer Research - "Roswell Park."
Rochester, where is based the headquarter of Kodak company, known not only for the
production of optical devices, but also for ongoing researches at the Institute of Optics at the
University of Rochester and the Rochester Institute of Technology which make researches in
quantum, fiber optics, microelectronics, lasers and others. Rochester is sometimes called "the
world’s capital of images processing”.
In Albany apart from the traditional employment of population in the public services, in
health care and education, extremely fast developing high-tech research and production.
University of Albany has been considered one of the leaders in the field of nanotechnology,
meanwhile the area of "Capital District" and the Hudson Valley is often called "Technology
Valley" (by analogy with the "Silicon Valley" in California).
The factories of New York also produce electrical equipment, tires, clothing, railroad
equipment, chemicals and other industrial products.
On the farms of New York grown vegetables (potatoes, onions and cabbage), fruits
(apples, pears and cherries), berries (strawberries). Here well-developed livestock, mainly dairy.
Many residents of the ocean side (mostly Long Island) are engaged in a prey of fish and seafood.
ECONOMY OF NEW YORK
NY ranked second in the United States (after California) for the production of wine. Most
of the vineyards are located in the Southwest, near the shores of Lake Erie, as well as on the
State leading industry is certainly tourism. Millions of tourists annually visit the
Adirondack’s park and the famous Niagara Falls. Even more, tens of millions people visit New
York City for its many attractions: Empire State Building, the Brooklyn Bridge, Central Park,
Times Square, the Statue of Liberty and many others.