NEW YORK

New York City (NYC) is the most populous city in the New York state which is found in the nation of United State of America. It became the first capital of the United States in 1789. New York is a state in the northeastern U.S., known for New York City and towering Niagara Falls. NYC’s island of Manhattan is home to the Empire State Building, Times Square and Central Park.

The Brooklyn Bridge connects Manhattan with the borough of Brooklyn. The iconic Statue of Liberty stands in New York Harbor. Home to the headquarters of the United Nations, New York is an important center for international diplomacy. New York City has  been described as the cultural, financial, and media capital of the world, significantly influencing commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. 

• New York is a home to 8,398,748 people according to an estimate done in 2018. 
• New York is also the most densely populated major city in the United States.
• Located at the southern tip of the U.S. state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass. 
• New York City is in reality a collection of many neighbourhoods scattered among the city’s five boroughs—anhattan, Brooklyn, the Bronx, Queens, and Staten Island—each exhibiting its own lifestyle. 
• More than 800 languages are spoken in New York City.
• New York City has the largest Jewish population outside of Israel, largest Chinese population outside of Asian and largest Puerto Rican population of any city in the world.
• New York City, not Washington D.C., was the first capital of the United States of America.
• The New York City library is home to more than 50 million books. As such, it’s the third largest library in the world and the second largest in the United States behind the Library of Congress.
• The Central Park Mall, which is the only straight path in Central Park, was originally designed to let wealthy New Yorkers stroll, socialize and show off their fancy duds.
• New York City’s Federal Reserve Bank has the largest gold storage in the world. The vault, which holds more than 7,000 tons of gold bars or roughly $90 billion dollars, is 80-feet below ground.
• Albert Einstein’s brain and eyeballs are kept in a safe box in New York City.

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The government of New York City, headquartered at New York City Hall in Lower Manhattan, is organized under the New York City Charter and provides for a "strong" mayor-council system. The mayor is elected to a four-year term and is responsible for the administration of city government. The New York City Council is a unicameral body consisting of 51 members, each elected from a geographic district,normally for four-year terms. All elected officials—other than those elected before 2010, who are limited to three consecutive terms—are subject to a two consecutive-term limit. The court system consists of two citywide courts and three statewide courts. New York City government employs 325,000 people, more than any other city in the United States and more  than any U.S. state but three: California, Texas, and New York. The city government is responsible for public education, correctional institutions, public safety, recreational facilities, sanitation, water supply, and welfare services.

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 and NASDAQ, the world's two largest stock exchanges by both market capitalization and trading activity.

The City’s economy grew 2.4 percent in Q4 2019 on an annualized basis, surpassing national economic growth, and up from 1.6 percent in the third quarter. The increased economic pace was led by a strong labor market and solid wage growth as measured by average hourly earnings.

U.S. GDP rose at a 2.1 percent annual rate in Q4 2019, matching the 2.1 percent growth rate in the previous quarter. The biggest contributor to GDP growth was a sharp decline in imports, and the largest drag on growth was a decline in inventory investment. Consumer spending contributed 1.20 percentage points (pp) to GDP growth, less than the 2.12 pp in Q3 2019. The decrease in consumer spending contribution was primarily driven by significant reductions in the purchase of durable and nondurable goods. Durable goods contribution dropped from 0.56 pp in Q3 2019 to 0.15 pp in Q4 2019. Similarly, nondurable goods contribution dropped from 0.53 pp in Q3 2019 to 0.11 pp in Q4 2019. The biggest contributor to GDP growth was an 8.7 percent drop in imports (a net positive for GDP) most likely due to tariffs on goods from China. Chinese’s exports of goods to the U.S. accounted for 21.2 percent of all U.S. imports in 2018. , that share dropped to 18.1 percent in 2019.  U.S. exports of goods to China dropped 11.3 percent in 2019 because of retaliatory tariffs imposed by China. Despite the reduction in exports for the year, in Q4 2019 exports to China rose likely as a conciliatory overture leading to the current agreement worked out between the US and China.. The result, a decrease in imports from China and a weaker decrease in exports led to this positive contribution to the US GDP. Government expenditures contributed 0.47 pp to GDP growth in the 4^th quarter, of which 0.23 pp was federal and 0.23 pp were by state and local governments. Nondefense Federal government expenditure rose 1.6 percent, and defense spending grew 4.9 percent on an annualized basis in Q4 2019.

Much of New York City’s skeletal infrastructure dates from the first part of the 20th century. As a result, many structures have been in continual service for over half a century. The average age of New York City’s 6,400 miles of sewage mains is approximately 84 years, for example. Its 6,800 miles of water mains are approximately 69 years old, and its 6,300 miles of gas mains are 56 years old. Over 41 percent of city bridges were built before 1950.

To grow New York's competitiveness in the 21st century global economy, New York State is building today for a better tomorrow with a $100 billion infrastructure plan to build the new New York. It is the largest infrastructure and development plan in the US. New York State constructed the Mario M. Cuomo Bridge to replace the aging Tappan Zee Bridge on time and on budget; a new LaGuardia Airport that's underway; a 1.2 million square foot expansion of Javits Convention Center; a record $27 billion to strengthen roads and bridges Upstate; an unprecedented $29.5 billion MTA Capital Plan to expand capacity and re-imagine the regional transportation system downstate; and so much more.

The story of tech’s ascent in New York stretches back nearly two decades. It was a bumpy path, with progress both by design and serendipity. DoubleClick, a survivor of the dot-com crash and a digital advertising pioneer, and Google, which made an early bet on the city, played key roles. And the Bloomberg administration also made smart policy moves. But tech in New York took hold mainly because entrepreneurs, technologists and corporations chose the city as the place to work and live, just as the city’s industries were undergoing digital transformations, according to interviews with more than two dozen people who contributed to the city’s evolution into a tech center.

Many of the city’s tech jobs are not in technology companies. Instead, they are tied to industries where the city has long been positioned as a world leader — like finance, advertising and media. Those businesses face threats from the rise of the digital age, and have adapted to compete, helping to revitalize the city’s economy in the process. There are twice as many technology jobs in non-tech industries in New York as there are in technology companies, according to Emsi, a labor market research firm.