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New York Economy
About half of Alabama
New York has been a leader in industry
and in the national economy since the earliest times. Robert Fulton invented the
first steam-powered ship in 1809, and this new technology began a new era in
transportation. Soon after, in 1825, the completion of the Erie Canal connecting
the Great Lakes with the harbor in New York City allowed trade across the state
to flourish and a number of cities grew up along these trade routes. By the
1880s, a system of roads and turnpikes across the state increased New York’s
ability to move goods along with the railroads that had become an important
addition to the state economy.
Today, the great metropolis of New York City is the nerve center of the nation.
It is a leader in manufacturing, foreign trade, commerce and banking, book and
magazine publishing, and theatrical production. A leading seaport, its John F.
Kennedy International Airport is one of the busiest airports in the world. New
York is also home to the New York Stock Exchange, founded in 1789, the largest
in the world. The printing and publishing industry is the city's largest
manufacturing employer, with the apparel industry second.
The state ranks seventh in the nation in manufacturing, with the principal
industries printing and publishing, industrial machinery and equipment,
electronic equipment, and instruments. The convention and tourist business is
also an important source of income.
New York farms produce cattle and calves, corn and poultry, and vegetables and
fruits. The state is a leading wine producer.
New York Economic Information from
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