Peter Barnes (born April 16, 1940 in New York City ) is an American entrepreneur, environmentalist , and journalist.
104-532: Barnes grew up in New York City . He earned a B.A. in history from Harvard University and an M.A. in government from Georgetown . Barnes began his career in journalism working as a reporter for The Lowell Sun in Lowell, Massachusetts . He later became a Washington, D.C. correspondent for Newsweek and was subsequently employed as a west coast correspondent for The New Republic . In 1976, Barnes co-founded
208-434: A US$ 2 billion graduate school of applied sciences called Cornell Tech on Roosevelt Island with the goal of transforming New York City into the world's premier technology capital. By mid-2014, Accelerator, a biotech investment firm, had raised more than US$ 30 million from investors , including Eli Lilly and Company , Pfizer , and Johnson & Johnson , for initial funding to create biotechnology startups at
312-460: A broad array of industries including shipping, steel, energy and manufacturing firms, and services. 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 hosts seven Chinese daily newspapers, two Chinese language television stations, and the largest Chinese neighborhood in
416-874: A broad spectrum of high technology enterprises, most based in Manhattan, with others in Brooklyn , Queens , and elsewhere in the region. High technology startup companies and employment are growing in New York City and the metropolitan region, bolstered by the city's position in North America as the leading Internet hub and telecommunications center, including its vicinity to several transatlantic fiber optic trunk lines , New York's intellectual capital , and its extensive outdoor wireless connectivity . Verizon Communications , headquartered at 140 West Street in Lower Manhattan,
520-456: 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
624-560: A decade between Irish immigrants and Black people for work. Rioters burned the Colored Orphan Asylum to the ground. At least 120 people were killed. Eleven Black men were lynched over five days, and the riots forced hundreds of Blacks to flee. The Black population in Manhattan fell below 10,000 by 1865. The White working class had established dominance. It was one of the worst incidents of civil unrest in American history . In 1886,
728-400: A fifth of the city's total wages. Employees in the securities industry earned an average salary (including bonuses) of $ 398,600 in 2018. 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
832-490: 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 . 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
936-426: A minimum of US$ 100 million to help launch 15 to 20 ventures in life sciences and biotechnology. Research and medical services drive New York's healthcare industry . The city has the most post-graduate life sciences degrees awarded annually in the United States, 60,000 licensed physicians, and 127 Nobel laureates with roots in local institutions. New York receives the second-highest amount of annual funding from
1040-510: A part of the colony of New York . It became a center of slavery , with 42% of households enslaving Africans by 1730. Most were domestic slaves ; others were hired out as labor. Slavery became integrally tied to New York's economy through the labor of slaves throughout the port, and the banking and shipping industries trading with the American South . During construction in Foley Square in
1144-510: A reputation as a despotic leader. He instituted regulations on liquor sales, attempted to assert control over the Dutch Reformed Church , and blocked other religious groups from establishing houses of worship. In 1664, unable to summon any significant resistance, Stuyvesant surrendered New Amsterdam to English troops, led by Colonel Richard Nicolls , without bloodshed. The terms of the surrender permitted Dutch residents to remain in
SECTION 10
#17328478969661248-468: A result of Sandy, and the economic losses in New York City were estimated to be roughly $ 19 billion. The disaster spawned long-term efforts towards infrastructural projects to counter climate change and rising seas, with $ 15 billion in federal funding received through 2022 towards those resiliency efforts. In March 2020, the first case of COVID-19 in the city was confirmed. With its population density and its extensive exposure to global travelers,
1352-561: A significant but declining share of employment. Food processing is a US$ 5 billion industry that employs more than 19,000 residents. Chocolate is New York City's leading specialty-food export, with over US$ 200 million worth of exports annually. Entrepreneurs were forming a "Chocolate District" in Brooklyn as of 2014 , while Godiva , one of the world's largest chocolatiers , continues to be headquartered in Manhattan. New York City's most important economic sector lies in its role as
1456-577: 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 [1] , with
1560-476: A speech denying the request, which was paraphrased on the front page of the New York Daily News as "FORD TO CITY: DROP DEAD." The Municipal Assistance Corporation was formed and granted oversight authority over the city's finances. While a resurgence in the financial industry greatly improved the city's economic health in the 1980s, New York's crime rate continued to increase through that decade and into
1664-521: A worker-owned solar energy company in San Francisco, California . In 1983, he co-founded Working Assets Money Fund. He served as president of Working Assets Long Distance in the 1980s. In 1995, Barnes was named Socially Responsible Entrepreneur of the Year for Northern California. Barnes served on numerous boards of directors, including: Barnes is an ardent environmentalist and an outspoken advocate of
1768-493: Is a major economic engine, handling a maritime cargo volume in the ten months through October 2022 of over 8.2 million TEUs , benefitting post-Panamax from the expansion of the Panama Canal , and accelerating ahead of California seaports in monthly cargo volumes. In 2022, GDP of New York City was $ 1.2 trillion of which $ 886 billion or 3/4 was Manhattan . New York City is a global hub of business and commerce, as
1872-723: Is also based in New York. In the first five months of 2014 alone, location filming for television pilots in New York City exceeded the record production levels for all of 2013, with New York surpassing Los Angeles as the top North American city for the same distinction during the 2013/2014 cycle. Fortune 500 companies headquartered in New York state that earned revenues of more than $ 15 billion in 2015. All but two are based in New York City; IBM and PepsiCo are based in Westchester County , New York, just north of New York City. Notes: (a), (b) : Armonk and Purchase are in Westchester County , New York, outside and to
1976-467: Is an established safe haven for global investors. As of 2023 , New York City is the most expensive city in the world for expatriates and has by a wide margin the highest U.S. city residential rents; and Fifth Avenue is the most expensive shopping street in the world. New York City is home by a significant margin to the highest number of billionaires , individuals of ultra-high net worth (greater than US$ 30 million), and millionaires of any city in
2080-525: Is multi-pronged: Every American citizen including children would be the beneficiaries of such a program, receiving a lump sum. This would aim to help to ease problems such as poverty and wealth inequality by giving children, including those born into poverty, some basic inheritance property rights. Some criticisms of the Sky Trust include: the charge that the revenue earned by the Sky Trust could be better allocated by subsidizing clean energy prices, as well that
2184-525: Is the second largest center for filmmaking and television production in the United States, producing about 200 feature films annually, employing 130,000 individuals; the filmed entertainment industry has been growing in New York, contributing nearly US$ 9 billion to the New York City economy alone as of 2015, and by volume, New York is the world leader in independent film production – one-third of all American independent films are produced in New York City. The Association of Independent Commercial Producers
SECTION 20
#17328478969662288-786: The Atlantic port to the agricultural markets and commodities of the North American interior via the Hudson River and the Great Lakes . Local politics became dominated by Tammany Hall , a political machine supported by Irish and German immigrants . In 1831, New York University was founded. Several prominent American literary figures lived in New York during the 1830s and 1840s, including William Cullen Bryant , Washington Irving , Herman Melville , Rufus Wilmot Griswold , John Keese , Nathaniel Parker Willis , and Edgar Allan Poe . Members of
2392-876: The Crown , with as many as 10,000 escaped slaves crowded into the city during the British occupation, the largest such community on the continent. When the British forces evacuated New York at the close of the war in 1783, they transported thousands of freedmen for resettlement in Nova Scotia , England, and the Caribbean . The attempt at a peaceful solution to the war took place at the Conference House on Staten Island between American delegates, including Benjamin Franklin , and British general Lord Howe on September 11, 1776. Shortly after
2496-502: The Kyoto Protocol . Barnes' Sky Trust proposal is based on the idea that each and every American owns the sky as if it were a common asset. Barnes has stated the goal of Sky Trust would be to "promote climate stability by: limiting the amount of carbon that can be put into the atmosphere; allowing the free market to set a price on the right to emit carbon; collecting revenue from those who buy those rights; and returning earned revenue to
2600-476: The National Institutes of Health among all U.S. cities, after Boston . Health care industry employs approximately 565,000 people in New York City, according to the U.S. Census, making it the city's 2nd largest employer, after government. In New York, the 565,000 people work at more than 70 hospitals, and the city's 20 public hospitals serve 1.5 million inpatients yearly. From the mid-19th century until
2704-699: The New York City Fire Department and 71 law enforcement officers. The area was rebuilt with a new World Trade Center , the National September 11 Memorial and Museum , and other new buildings and infrastructure, including the World Trade Center Transportation Hub , the city's third-largest hub. The new One World Trade Center is the tallest skyscraper in the Western Hemisphere and the seventh-tallest building in
2808-592: The New York metropolitan area , the largest metropolitan area in the U.S. by both population and urban area . New York is a global center of finance and commerce , culture , technology , entertainment and media , academics and scientific output , the arts and fashion , and, as home to the headquarters of the United Nations , international diplomacy . With an estimated population in 2023 of 8,258,035 distributed over 300.46 square miles (778.2 km ),
2912-568: The New York shirtwaist strike of 1909 ; and the Triangle Shirtwaist Factory fire in 1911, in which 146 perished. The industry peaked around 1950, when more than 323,000 workers were employed in the industry in New York. 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
3016-947: The Northwest Passage to the Orient for the Dutch East India Company . He sailed up what the Dutch called North River (now the Hudson River), named first by Hudson as the Mauritius after Maurice, Prince of Orange . Hudson claimed the region for the Dutch East India Company. In 1614, the area between Cape Cod and Delaware Bay was claimed by the Netherlands and called Nieuw-Nederland (' New Netherland '). The first non–Native American inhabitant of what became New York City
3120-643: The Port Newark-Elizabeth Marine Terminal in New Jersey. Some cargo shipping remains; for example, Brooklyn still handles the majority of cocoa bean imports to the United States. New York is an 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
3224-561: The Statue of Liberty , a gift from France , was dedicated in New York Harbor. The statue welcomed 14 million immigrants as they came to the U.S. via Ellis Island by ship in the late 19th and early 20th centuries, and is a symbol of the United States and American ideals of liberty and peace. In 1898, the City of New York was formed with the consolidation of Brooklyn (until then a separate city),
Peter Barnes (entrepreneur) - Misplaced Pages Continue
3328-683: The Stonewall riots were a series of violent protests by members of the gay community against a police raid that took place in the early morning of June 28, 1969, at the Stonewall Inn in Greenwich Village . They are widely considered to be the single most important event leading to the gay liberation movement and the modern fight for LGBT rights . Wayne R. Dynes , author of the Encyclopedia of Homosexuality , wrote that drag queens were
3432-661: The United States . In 2022, the New York metropolitan area generated a gross metropolitan product (GMP) of US$ 1.4trillion, with a population of 23.6 million people. Anchored by Wall Street in Lower Manhattan , New York City has been characterized as the world's premier financial center . The city is home to the New York Stock Exchange (NYSE, on Wall Street ) and Nasdaq ( headquartered in Times Square ),
3536-517: The steamship General Slocum caught fire in the East River , killing 1,021 people. In 1911, the Triangle Shirtwaist Factory fire , the city's worst industrial disaster, killed 146 garment workers and spurred the growth of the International Ladies' Garment Workers' Union and major improvements in factory safety standards. New York's non-White population was 36,620 in 1890. New York City
3640-399: The waterfronts since Dutch colonial times; reclamation is most prominent in Lower Manhattan, with developments such as Battery Park City in the 1970s and 1980s. Some of the natural relief in topography has been evened out, especially in Manhattan. Economy of New York City Employment The economy of New York City encompasses the largest municipal and regional economy in
3744-477: The world's two largest stock exchanges by both market capitalization and trading activity. New York City, with its center in Manhattan , is the world's leading center of banking, finance , and communication . 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
3848-408: The 1920s, New York's diamond trade was centered on Maiden Lane near Wall Street . As rents increased in the 1920s, diamond businesses relocated to 47th Street. The area's significance grew during World War II as refugee diamond merchants fled to New York. Post-WWII, Jewish merchants from Antwerp , Tel Aviv , and New York dominated the industry. Hebrew and Yiddish were as common as English amongst
3952-535: The 1990s, the African Burying Ground was discovered; the cemetery included 10,000 to 20,000 graves of colonial-era Africans, some enslaved and some free. The 1735 trial and acquittal in Manhattan of John Peter Zenger , who had been accused of seditious libel after criticizing colonial governor William Cosby , helped to establish freedom of the press in North America . In 1754, Columbia University
4056-525: The 19th century, the city was transformed by both commercial and residential development relating to its status as a national and international trading center , as well as by European immigration, respectively. The city adopted the Commissioners' Plan of 1811 , which expanded the city street grid to encompass almost all of Manhattan. The 1825 completion of the Erie Canal through central New York connected
4160-531: The Alexandria Center for Life Science, which encompasses more than 700,000 square feet (65,000 m ) on East 29th Street and promotes collaboration among scientists and entrepreneurs at the center and with nearby academic, medical, and research institutions. The New York City Economic Development Corporation 's Early Stage Life Sciences Funding Initiative and venture capital partners, including Celgene , General Electric Ventures, and Eli Lilly, committed
4264-671: The British occupation began, the Great Fire of New York destroyed nearly 500 buildings, about a quarter of the structures in the city, including Trinity Church . In January 1785, the assembly of the Congress of the Confederation made New York City the national capital. New York was the last capital of the U.S. under the Articles of Confederation and the first capital under the Constitution of
Peter Barnes (entrepreneur) - Misplaced Pages Continue
4368-518: The Bronx , and Staten Island . Anchored by Wall Street in the Financial District, Manhattan , New York City has been called both the world's premier financial and fintech center and the most economically powerful city in the world. As of 2022 , the New York metropolitan area is the largest metropolitan economy in the world , with a gross metropolitan product of over US$ 2.16 trillion. If
4472-433: The Bronx in 2010. The facility processes used cooking oil collected by TSB from over 2000 New York restaurants with methanol and a catalyst to create biodiesel fuel. More than 1 million US gallons (3,800 m ) of waste oil could be collected in Brooklyn every year according to a 2004 Cornell study. The fuel produces 78 percent less carbon-dioxide emissions than standard diesel. The city's apparel and garment industry
4576-558: The County of New York (which then included parts of the Bronx), the County of Richmond, and the western portion of the County of Queens. The opening of the New York City Subway in 1904, first built as separate private systems, helped bind the new city together. Throughout the first half of the 20th century, the city became a world center for industry, commerce, and communication. In 1904,
4680-585: The Dutch West India Company relinquished its monopoly over the fur trade, leading to growth in the production and trade of food, timber, tobacco, and slaves (particularly with the Dutch West Indies ). In 1647, Peter Stuyvesant began his tenure as the last Director-General of New Netherland. During his tenure, the population of New Netherland grew from 2,000 to 8,000. Stuyvesant has been credited with improving law and order; however, he earned
4784-529: The Dutch colonial Director-General Peter Minuit , as charged by the Dutch West India Company , purchased the island of Manhattan from the Canarsie , a small Lenape band, for "the value of 60 guilders " (about $ 900 in 2018). A frequently told but disproved legend claims that Manhattan was purchased for $ 24 worth of glass beads. Following the purchase, New Amsterdam grew slowly. To attract settlers,
4888-597: The Dutch instituted the patroon system in 1628, whereby wealthy Dutchmen ( patroons , or patrons) who brought 50 colonists to New Netherland would be awarded land, local political autonomy, and rights to participate in the lucrative fur trade. This program had little success. Since 1621, the Dutch West India Company had operated as a monopoly in New Netherland, on authority granted by the Dutch States General . In 1639–1640, in an effort to bolster economic growth,
4992-580: The Native Americans and epidemics brought on by contact with the Europeans caused sizeable population losses for the Lenape between 1660 and 1670. By 1700, the Lenape population had diminished to 200. New York experienced several yellow fever epidemics in the 18th century, losing ten percent of its population in 1702 alone. In the early 18th century, New York grew in importance as a trading port while as
5096-405: The New York metropolitan area were its own country , it would have the tenth-largest economy in the world . Despite having a 24/7 rapid transit system , New York also leads the world in urban automobile traffic congestion . The city is home to the world's two largest stock exchanges by market capitalization of their listed companies: the New York Stock Exchange and Nasdaq . New York City
5200-699: The Revolutionary War and escaped slaves, a significant free-Black population gradually developed in Manhattan. The New York Manumission Society worked for abolition and established the African Free School to educate Black children. It was not until 1827 that slavery was completely abolished in the state . Free Blacks struggled with discrimination and interracial abolitionist activism continued. New York City's population jumped from 123,706 in 1820 (10,886 of whom were Black and of which 518 were enslaved) to 312,710 by 1840 (16,358 of whom were Black). Also in
5304-436: The Sky Trust would need to be a global initiative to have an environmental as well as social impact on the planet. If the Sky Trust weren't global, corporations could theoretically move to another country that wouldn't tax "the use of the sky as a dump". "Sky Trust" was rebranded as " Cap and Dividend " in advance of the 2008 elections in order to raise its profile. Barnes conducted numerous interviews explaining and popularizing
SECTION 50
#17328478969665408-461: The United States . As the U.S. capital, New York City hosted the inauguration of the first President, George Washington , and the first Congress , at Federal Hall on Wall Street . Congress drafted the Bill of Rights there. The Supreme Court held its first organizational sessions in New York in 1790. In 1790, for the first time, New York City surpassed Philadelphia as the nation's largest city. At
5512-672: 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. 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, health care and life sciences , high technology and biotechnology , real estate , and insurance all form
5616-402: 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. International shipping has always been a major part of the city's economy because of New York's natural harbor, but with the advent of containerization most cargo shipping has moved from the Brooklyn waterfront across the harbor to
5720-694: The area for France and named it Nouvelle Angoulême (New Angoulême ). A Spanish expedition, led by the Portuguese captain Estêvão Gomes sailing for Emperor Charles V , arrived in New York Harbor in January 1525 and charted the mouth of the Hudson River , which he named Río de San Antonio ('Saint Anthony's River'). In 1609, the English explorer Henry Hudson rediscovered New York Harbor while searching for
5824-415: The area is characterized by a diverse mix of elderly, ultra-Orthodox Jews, South and Central Asians, and merchants from around the world conducting business openly on the sidewalk, reminiscent of an old world bazaar. The Smithsonian magazine remarked the importance of family and community ties due to high levels of trust required in the diamond trade. The magazine further remarked how even in New York, trade
5928-489: 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. New York City possesses strong competitive advantages in these industries. Despite declining, manufacturing remains consequential. The Port of New York and New Jersey
6032-543: The beginning of the 1990s. By the mid-1990s, crime rates started to drop dramatically due to revised police strategies, improving economic opportunities, gentrification , and new residents, both American transplants and new immigrants from Asia and Latin America. New York City's population exceeded 8 million for the first time in the 2000 United States census ; further records were set in 2010 , and 2020 U.S. censuses. Important new sectors, such as Silicon Alley , emerged in
6136-583: The business elite lobbied for the establishment of Central Park , which in 1857 became the first landscaped park in an American city. The Great Irish Famine brought a large influx of Irish immigrants, of whom more than 200,000 were living in New York by 1860, representing over a quarter of the city's population. Extensive immigration from the German provinces meant that Germans comprised another 25% of New York's population by 1860. Democratic Party candidates were consistently elected to local office, increasing
6240-510: The city from New Jersey. The East River—a tidal strait —flows from Long Island Sound and separates the Bronx and Manhattan from Long Island. The Harlem River , another tidal strait between the East and Hudson rivers, separates most of Manhattan from the Bronx. The Bronx River , which flows through the Bronx and Westchester County , is the only entirely freshwater river in the city. The city's land has been altered substantially by human intervention, with considerable land reclamation along
6344-425: The city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles , the nation's second-most populous city. With more than 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York City is one of the world's most populous megacities . The city and its metropolitan area are
SECTION 60
#17328478969666448-431: The city is with a foreign company. Often this makes the perspective of New York's business community internationalist and at odds with Washington's foreign policy, trade policy, and visa policy. Since 2000, China has been New York's leading growth market for exports. The New York Metropolitan Region is home to more than half of the 32 largest Chinese companies with offices in the United States. These companies represent
6552-439: The city rapidly replaced Wuhan , China as the global epicenter of the pandemic during the early phase, straining the city's healthcare infrastructure. Through March 2023, New York City recorded more than 80,000 deaths from COVID-19-related complications. New York City is situated in the northeastern United States , in southeastern New York State, approximately halfway between Washington, D.C. and Boston . Its location at
6656-447: The city's economy. The advent of Y2K was celebrated with fanfare in Times Square . New York City suffered the bulk of the economic damage and largest loss of human life in the aftermath of the September 11, 2001, attacks . Two of the four airliners hijacked that day were flown into the twin towers of the World Trade Center, resulting in the collapse of both buildings and the deaths of 2,753 people, including 343 first responders from
6760-615: The city's ties to the South and its dominant party. In 1861, Mayor Fernando Wood called on the aldermen to declare independence from Albany and the United States after the South seceded, but his proposal was not acted on. Anger at new military conscription laws during the American Civil War (1861–1865), which spared wealthier men who could afford to hire a substitute, led to the Draft Riots of 1863 , whose most visible participants were ethnic Irish working class. The draft riots deteriorated into attacks on New York's elite, followed by attacks on Black New Yorkers after fierce competition for
6864-445: 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/m ), breaking the barely month-old record for an American office building of $ 1,476 per square foot ($ 15,887/m ) set in the June 2007 sale of 660 Madison Avenue. According to Forbes , in 2014, Manhattan
6968-419: The city, of which about a quarter were located in or around the Garment District, which has about 830,000 square feet (77,000 m ) of manufacturing space. Growth of the city's manufacturing industry has occurred in Brooklyn Army Terminal at Sunset Park, Brooklyn . The City of New York is unique among American cities for its large number of foreign corporations. One out of every ten private sector jobs in
7072-488: 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". Many of the world's largest media conglomerates are also based in the city. New York is a prominent location for the American entertainment industry , with many films , television series, books, and other media being set there. New York City
7176-456: The colony and allowed for religious freedom. In 1667, during negotiations leading to the Treaty of Breda after the Second Anglo-Dutch War , the victorious Dutch decided to keep the nascent plantation colony of what is now Suriname , which they had gained from the English, and in return the English kept New Amsterdam. The settlement was promptly renamed "New York" after the Duke of York (the future King James II and VII). The duke gave part of
7280-442: The colony to proprietors George Carteret and John Berkeley . On August 24, 1673, during the Third Anglo-Dutch War , Anthony Colve of the Dutch navy seized New York at the behest of Cornelis Evertsen the Youngest and rechristened it "New Orange" after William III , the Prince of Orange . The Dutch soon returned the island to England under the Treaty of Westminster of November 1674. Several intertribal wars among
7384-417: The development of large housing tracts in eastern Queens and Nassau County , with Wall Street leading America's place as the world's dominant economic power. The United Nations headquarters was completed in 1952, solidifying New York's global geopolitical influence, and the rise of abstract expressionism in the city precipitated New York's displacement of Paris as the center of the art world. In 1969,
7488-406: The end of 1790, the national capital was moved to Philadelphia . During the 19th century, New York City's population grew from 60,000 to 3.43 million. Under New York State's gradual emancipation act of 1799, children of slave mothers were to be eventually liberated but to be held in indentured servitude until their mid-to-late twenties. Together with slaves freed by their masters after
7592-457: The founding of a Dutch fur trading settlement on Governors Island . In 1625, construction was started on a citadel and Fort Amsterdam , later called Nieuw Amsterdam (New Amsterdam), on present-day Manhattan Island. The colony of New Amsterdam extended from the southern tip of Manhattan to modern-day Wall Street , where a 12-foot (3.7 m) wooden stockade was built in 1653 to protect against Native American and English raids. In 1626,
7696-560: 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. Other important economic sectors include medical research and technology, non-profit institutions, and universities. Manufacturing accounts for
7800-642: 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. In 2017, there were 205,592 employer firms in New York City, of which 131,584 of these firms were shown to be owned by men, and 45,114 were shown to be owned by women. Of those firms, 64,514 were owned by minorities, and 125,877 were shown to be owned by non-minorities. Veterans owned 5,506 of those firms. As of 2013 ,
7904-418: 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
8008-455: The highest concentration of industrial employment in Manhattan. This includes manufacturing, warehousing, utilities, and transportation. 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
8112-466: The ice (and its subsequent retreat) contributed to the separation of what is now Long Island and Staten Island. That action left bedrock at a relatively shallow depth, providing a solid foundation for most of Manhattan's skyscrapers. The Hudson River flows through the Hudson Valley into New York Bay . Between New York City and Troy, New York , the river is an estuary . The Hudson River separates
8216-461: The idea. New York City New York , often called New York City or NYC , is the most populous city in the United States , located at the southern tip of New York State on one of the world's largest natural harbors . The city comprises five boroughs , each coextensive with a respective county . The city is the geographical and demographic center of both the Northeast megalopolis and
8320-730: 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. Investment banking fees on Wall Street totaled approximately $ 54.9 billion in 2018. New York City remains
8424-819: The largest commercial and investment banks in the world are headquartered in New York City: including JPMorgan Chase & Co. , Citigroup Inc. , The Goldman Sachs Group Inc. , and Morgan Stanley . New York is a top-tier global high technology hub. New York's tech universe incorporates artificial intelligence , the Internet , new media , telecommunications , digital media , software development , biotechnology , game design , financial technology (" FinTech "), and other fields within information technology that are supported by its entrepreneurship ecosystem and venture capital investments. In 2015, Silicon Alley generated over US$ 7.3 billion in venture capital investment across
8528-439: The largest global center for trading in public equity and debt capital markets , driven in part by the size and financial development of the U.S. 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 the city are important participants in other global financial centers. Some of
8632-486: The last American stronghold in Manhattan, causing George Washington and his forces to retreat across the Hudson River to New Jersey , pursued by British forces. After the battle, in which the Americans were defeated, the British made the city their military and political base of operations in North America. The city was a haven for Loyalist refugees and escaped slaves who joined the British lines for freedom promised by
8736-406: The merchants. Despite changes in demographics, the district's business practices have remained traditional. The New York Times described 47th Street as “a 17th-century industry in a 21st-century city.” The district has survived Times Square 's decline in the 1970s and 1980s and more recent gentrification, remaining a hub of cramped retail space and manufacturing amidst high Manhattan rents. Today,
8840-419: The most populous urbanized area in the world in the early 1920s, overtaking London . The metropolitan area surpassed 10 million in the early 1930s, becoming the first megacity . The Great Depression saw the election of reformer Fiorello La Guardia as mayor and the fall of Tammany Hall after eighty years of political dominance. Returning World War II veterans created a post-war economic boom and
8944-544: The mouth of the Hudson River , which feeds into a naturally sheltered harbor and then into the Atlantic Ocean , has helped the city grow in significance as a trading port. Most of the city is built on the three islands of Long Island, Manhattan, and Staten Island. During the Wisconsin glaciation , 75,000 to 11,000 years ago, the New York City area was situated at the edge of a large ice sheet . The erosive forward movement of
9048-493: The need to reduce carbon emissions . He originated the terms "Capitalism 3.0" and "Sky Trust". These terms describe his proposal for a " cap and dividend " program modeled on the Alaska Permanent Fund , which Barnes maintains will reduce greenhouse emissions and create a citizens dividend for all Americans. Barnes contends that his proposals are more workable and sustainable than that of the cap-and-trade policies of
9152-492: The only " transgender folks around" during the June 1969 Stonewall riots. The transgender community in New York City played a significant role in fighting for LGBT equality. In the 1970s, job losses due to industrial restructuring caused New York City to suffer from economic problems and rising crime rates. Growing fiscal deficits in 1975 led the city to appeal to the federal government for financial aid; President Gerald Ford gave
9256-551: The owners of the sky." The Sky Trust was originally proposed as a report from the Washington, D.C. -based Common Assets Project of which Barnes is the founder. The idea behind the proposal was originally inspired by the Alaska Permanent Fund; a fund that pays Alaskan dividends for what if effectively natural resource rent. The "trust" Barnes hopes to create is more than an idea, but an actual legal entity. The trust's mission
9360-482: The premier gateway for legal immigration to the United States . As many as 800 languages are spoken in New York City, making it the most linguistically diverse city in the world. In 2021, the city was home to nearly 3.1 million residents born outside the U.S., the largest foreign-born population of any city in the world. New York City traces its origins to Fort Amsterdam and a trading post founded on Manhattan Island by Dutch colonists around 1624. The settlement
9464-486: 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. In recent years, as real estate and globalization pressures have increased,
9568-612: The remaining manufacturers have become more design-oriented and single customer-focused. To boot, production methods have become cleaner and more technology-driven. Despite the adaptability of New York manufacturers, there remain looming challenges to the sector's survival. A 2003 city-sponsored survey of the industrial sector identified three major local challenges to retaining businesses: 1) high cost of real estate; 2) high costs of doing business; and, 3) uncertainty about land use policy. A 12,900-square-foot (1,200 m ) biodiesel plant run by Tri-State Biodiesel, LLC began construction in
9672-518: The world by pinnacle height, with its spire reaching a symbolic 1,776 feet (541.3 m), a reference to the year of U.S. independence . The Occupy Wall Street protests in Zuccotti Park in the Financial District of Lower Manhattan began on September 17, 2011, receiving global attention and popularizing the Occupy movement against social and economic inequality worldwide. New York City
9776-551: The world. In 1664, New York was named in honor of the Duke of York (later King James II of England ). James's elder brother, King Charles II , appointed the Duke as proprietor of the former territory of New Netherland , including the city of New Amsterdam , when the Kingdom of England seized it from Dutch control. In the pre-Columbian era , the area of present-day New York City
9880-422: Was Juan Rodriguez , a merchant from Santo Domingo who arrived in Manhattan during the winter of 1613–14, trapping for pelts and trading with the local population as a representative of the Dutch colonists. A permanent European presence near New York Harbor was established in 1624, making New York the 12th-oldest continuously occupied European-established settlement in the continental United States , with
9984-552: Was heavily affected by Hurricane Sandy in late October 2012. Sandy's impacts included flooding that led to the days-long shutdown of the subway system and flooding of all East River subway tunnels and of all road tunnels entering Manhattan except the Lincoln Tunnel . The New York Stock Exchange closed for two days due to weather for the first time since the Great Blizzard of 1888 . At least 43 people died in New York City as
10088-525: Was a prime destination in the early 20th century for Blacks during the Great Migration from the American South, and by 1916, New York City had the largest urban African diaspora in North America. The Harlem Renaissance of literary and cultural life flourished during the era of Prohibition . The larger economic boom generated construction of skyscrapers competing in height. New York City became
10192-621: Was at the final stages in 2014 of completing a US$ 3 billion fiberoptic telecommunications upgrade throughout New York City. As of 2014 , New York City hosted 300,000 employees in the tech sector. The technology sector has been claiming a greater share of New York City's economy since 2010. The biotechnology sector is also growing in New York City, driven by the city's strength in academic scientific research and public and commercial financial support. On December 19, 2011, then Mayor Michael R. Bloomberg announced his choice of Cornell University and Technion-Israel Institute of Technology to build
10296-821: Was founded. The Stamp Act Congress met in New York in October 1765, as the Sons of Liberty organization emerged in the city and skirmished over the next ten years with British troops stationed there. The Battle of Long Island , the largest battle of the American Revolutionary War , was fought in August 1776 within modern-day Brooklyn. A British rout of the Continental Army at the Battle of Fort Washington in November 1776 eliminated
10400-465: Was historically centered on the Garment District in Manhattan. The garment industry has been significant in labor history , with Jewish, Italian, and Hispanic, and (more recently) Chinese immigrants successively laboring in the industry. Key events have been the formation of the International Ladies' Garment Workers' Union in 1900 and the formation of Amalgamated Clothing Workers Union in 1914;
10504-543: 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$ 3,000 per square foot ($ 32,000/m ) 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 24,000 square feet (2,200 m ) penthouse apartment overlooking Central Park . Manufacturing accounts for
10608-521: Was inhabited by Algonquians , including the Lenape . Their homeland, known as Lenapehoking , included the present-day areas of Staten Island , Manhattan , the Bronx , the western portion of Long Island (including Brooklyn and Queens ), and the Lower Hudson Valley . The first documented visit into New York Harbor by a European was in 1524 by explorer Giovanni da Verrazzano . He claimed
10712-468: Was named New Amsterdam in 1626 and was chartered as a city in 1653. The city came under English control in 1664 and was temporarily renamed New York after King Charles II granted the lands to his brother, the Duke of York , before being permanently renamed New York in November 1674. New York City was the U.S. capital from 1785 until 1790. The modern city was formed by the 1898 consolidation of its five boroughs : Manhattan , Brooklyn , Queens ,
10816-426: Was reputation based and businesses family oriented in order to maintain trust. 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
#965034