Talk:Economy of New York City

Tourism
Isnt tourism NYCs largest industry? Why is this not mentioned in the initial introduction. Should be a section into it self. Ottawakismet (talk) 16:59, 27 September 2011 (UTC) hi — Preceding unsigned comment added by 24.128.84.103 (talk) 22:26, 11 June 2012 (UTC)

Expansion topics
Some subject ideas for expanding this article:

1. Shipping: NYC's history as a major trading port. Role of JFK (largest international air freight gateway in the united states by value).

2. "FIRE": Finance, Insurance and Real Estate (FIRE) is the bedrock of NYC's economy. Advantage: enormous Wall Street end-of-year bonuses pump money into the city's economy and tax collection. Disadvantage: FIRE is volatile. Many experts want to divesify the city's economy. As technology makes location less important, many FIRE companies are moving their back-office operations (and jobs) out of the city. NYC still dominates this industry, but its national share of the pie is slowly declining.

3. "Creative": Big growth sector. Actors, filmmakers, architects, etc. Richard Florida's thesis that "creative" is the urban economy of the future. NYC is a national leader in this sector. See Creative New York (Dec 2005), a report by the Center for an Urban Future: http://www.nycfuture.org/images_pdfs/pdfs/CREATIVE_NEW_YORK.pdf

4. Industry: What's going on with NYC manufacturing.

5. Immigrants: Their important role in NYC's economy. Small business owners, labor, etc. NYC's high rate of women- and minority-owned businesses.

6. Labor unions: NYC is different than most of the USA. Union membership is relatively high. They're moving into service sector; hospitality, security guards, health workers.
 * Out of curiousity, is NYC one of the only cities to require all public sector members to be union members? Kawa 01:43, 8 February 2006 (UTC)

7. Health care: Massive and important NYC economic sector. Vast numbers of hospitals, doctors, and research centers.

8. Life sciences: Fast-growing sector of big importance. Holds promise as an economic pillar in diversifying economy away from FIRE sector.

9. Challenges: NYC is high cost environment. Shortage of space. Congested road network. Tax burden.

Wv235 04:10, 26 January 2006 (UTC)

Please don't forget the number of horse-drawn carriages and their impact on the economy --Old Guard 04:07, 16 April 2006 (UTC)

Frodowilson 02:34, 27 September 2006 (UTC)Does anyone know how to get to this list that includes companies with a prescence in New York? User:Frodowilson

== Needs Citation == Article states that NYC 'far surpasses' Hong Kong, London, & Tokyo. Are there any sources that support this claim? It seems to me that if London & Tokyo are "command centers" along w/ NYC, their influence would be at least comparable to the influence NYC has. --Filippo Argenti 02:35, 3 September 2007 (UTC)

What are command centers?
The part that says New York City is one of three "Command Centers" with London and Tokyo seems quite unsubstantiated to me (and it is also in the economy of London page). First, I see no reference in wikipedia about how these so-called command centers are determined and who determines them. Second, it seems to me that cities like Los Angeles, San Francisco, and Paris just to name the most obvious have been too easily dismissed. Los Angeles is a major manufacturing and creative center and a city as big in population and as rich as New York City. San Francisco is where all the technology comes from (Apple, Intel, AMD, Google, Applied Materials, Yahoo....). And the Paris economy is larger or at least similar in size to that of London, is a large financial center (4th after NYC, London, and Tokyo I believe) and a center for luxury, fashion, and creativity. Bottom line: if a "command center" is a legitimate concept and indeed there are only three cities in that group then a reference should be added with who has determined this since it is obviously based on subjective criteria (why 3 and not 4 cities for instance). Can someone enlighten us with this concept and/or modify the page? —Preceding unsigned comment added by 72.73.121.27 (talk) 14:42, 16 October 2007 (UTC)

It's because New york,London and Tokyo rank at the top of the 'global city index' [ http://en.wikipedia.org/wiki/Global_city#Global_Cities_Index ] And all 3 are in different regions of the world,they come up as top 3 in most indexes too. — Preceding unsigned comment added by SlyRatchet (talk • contribs) 12:09, 20 August 2011 (UTC)

Command centres are a nonsense idea, no basis for inclusion in the article Ottawakismet (talk) 16:59, 27 September 2011 (UTC)

News Release: BEA Introduces New Measures of the Metropolitan Economy
Perspective on GDP by Metropolitan Area for 2005:
 * Current-dollar GDP for the Nation was $12.4 trillion; it was $1.6 trillion for California, the largest state
 * In comparison, in the New York metropolitan area it was $1.1 trillion
 * Metropolitan areas produced 90 percent of U.S. current-dollar GDP; the five largest metropolitan areas accounted for 23 percent of the U.S. total
 * The smallest 75 metropolitan areas accounted for less than two percent of U.S. GDP
 * When ranked by current-dollar GDP, the New York metropolitan area would rank second among states and 10th among countries in 2005.

I think this is something worth mentioning.  Cheers, (74.134.124.3 (talk) 22:20, 15 December 2007 (UTC))

Fair use rationale for Image:Silvercup Studios West.jpg
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BetacommandBot (talk) 15:33, 21 January 2008 (UTC)

Bot report : Found duplicate references !
In the last revision I edited, I found duplicate named references, i.e. references sharing the same name, but not having the same content. Please check them, as I am not able to fix them automatically :) DumZiBoT (talk) 19:46, 11 August 2008 (UTC)
 * "food manufacturing" :

Does anyone want to fix the miscellaneous "Fashion & ad" section?
After trying to improve the language and title of this unsourced and unrelated set of important but vague factoids, I decided to just delete it and move it below. Each of the half-dozen different subjects deserves mention, but in an appropriate place with slightly-sharper detail and some kind of reference. —— Shakescene (talk) 21:47, 24 April 2009 (UTC) ===Advertising, fashion, luxury goods, tourism and the arts===
 * Madison Avenue in Manhattan is often used as a synonym for the entire American advertising industry, while Seventh Avenue is nicknamed "fashion avenue" as it serves as an important center for the fashion industry. Ninety percent of the diamonds imported to the United States pass through New York, and most of these are handled and cut in the city's Diamond District on 47th Street between Fifth and Sixth Avenues. New York also has some of the most important scenes for art, music, and theater in the U.S., with an increasingly active artists' community. The city also has a large tourism industry. According to the Center for Women's Business Research, there are nearly 250,000 women-owned firms in New York City.

Fortune 500 in NYC
The 2009 Fortune 500 issue hasn't reached my newsstands yet. After I buy one, I plan to update the table at some point (I still haven't caught up with all of the November 2008 election returns), but anyone who wants to anticipate me and enter the new figures and rankings now is more than welcome (the Wall St. Journal stock prices may be made unnecessary if Fortune's 2009 figures can be substituted.) Please leave a note here or on my talk page (User talk:Shakescene) if you'd like any tips about formatting or have any questions about why I made some of the peculiar choices I did in constructing the table. —— Shakescene (talk) 21:47, 24 April 2009 (UTC)

I just got a copy of the 2011 Fortune 500 issue, and will be updating the list fairly soon, unless someone else wants to do the work. Info at http://money.cnn.com/magazines/fortune/fortune500/2011/states/NY.html and http://money.cnn.com/magazines/fortune/global500/2011/countries/US.html but without the app, it looks as if the employees and industry columns need to be checked and revised one by one from the printed magazine. Note that Dover Corporation has left New York for Illinois, while INTL FCStone (formerly International Assets Management) has moved to New York from Florida. —— Shakescene (talk) 20:18, 20 July 2011 (UTC)
 * ✅ List updated; please review and make any adjustments or corrections consistent with the source (Fortune). —— Shakescene (talk) 00:54, 21 July 2011 (UTC)

Other comments
and by nature new york is al so known for its hot new artists —Preceding unsigned comment added by 170.211.105.8 (talk) 14:37, 9 March 2010 (UTC)

This article uses New York City / Manhattan synonymously
confusing, and often inaccurate, especially when talking about specific figures.

Manhattan/New York is a county, borough. New York City is the combination of all 5 boroughs. —Preceding unsigned comment added by 24.90.197.27 (talk) 05:26, 15 March 2010 (UTC)

Yale is irrelevant
This article is not about Yale University. I deleted the irrelevant reference to Yale. —Preceding unsigned comment added by 71.174.42.221 (talk) 05:31, 15 September 2010 (UTC)

London Moves Ahead
http://zyen.com/long-finance/global-financial-centres-index-gfci.html Twobells (talk) 10:20, 1 October 2011 (UTC)

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Update
I feel like this info really needs to be updated. It's from almost a decade ago. I'd need someone else to do it. I'm not well-versed in the source requirements and editing of Wikipedia. GamerKlim9716 (talk) 20:27, 9 February 2024 (UTC)