New York Metropolitan Area in the context of "Economy of New York City"

⭐ In the context of the Economy of New York City, the New York Metropolitan Area’s substantial economic output is primarily characterized by its dominance in which sector?

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⭐ Core Definition: New York Metropolitan Area

The New York metropolitan area, also called the Tri-State area and sometimes referred to as Greater New York or Metro New York, is the largest metropolitan economy in the world, with a gross metropolitan product of over US$2.6 trillion. It is also the largest metropolitan area in the world by urban landmass, encompassing 4,669.0 sq mi (12,093 km). Among the most populous metro areas in the world, New York is the largest metropolitan statistical area in the United States and the only one with more than 20 million residents, according to the 2020 U.S. Census.

The core of this vast area, the New York metropolitan statistical area, includes New York City and much of Downstate New York (Long Island as well as the mid- and lower Hudson Valley), northern and central New Jersey (including that state's eleven largest municipalities), and Southwestern Connecticut. The phrase Tri-State area is used to refer to the larger urbanized area of Downstate New York, northern New Jersey, and western Connecticut. The urban region's combined statistical area, the New York–Newark, NY–NJ–CT–PA combined statistical area, spans four states.

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👉 New York Metropolitan Area in the context of Economy of New York City

The economy of New York City encompasses the largest municipal and regional economy in the United States. In 2023, the New York City Metropolitan Area generated a GMP of US$2.299 trillion. Anchored by Wall Street in Lower Manhattan, New York City has been characterized as the world's premier fintech and financial center. The city is home to the New York Stock Exchange (NYSE, on Wall Street) and Nasdaq (headquartered in Times Square), 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 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.

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New York Metropolitan Area in the context of Holmdel Township, New Jersey

Holmdel is a township in Monmouth County, in the U.S. state of New Jersey. Located near Raritan Bay in the Raritan Valley region, the township is a regional commercial hub of Central Jersey, home to Bell Labs and PNC Bank Arts Center, and a bedroom community of New York City in the New York Metropolitan Area.

As of the 2020 U.S. census, the township's population was 17,400, an increase of 627 (+3.7%) from the 2010 census count of 16,773, which in turn reflected an increase of 992 (+6.3%) from the 15,781 counted in the 2000 census.

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New York Metropolitan Area in the context of Long Beach Island

Long Beach Island (colloquially known as LBI, The LBI Region, or simply The Island) is a barrier island and summer colony along the Atlantic Ocean coast of Ocean County, New Jersey, United States, on the Jersey Shore. Aligned north to south, the northern portion generally has more expensive low-density housing, whereas the southern portion possesses higher-density housing and considerable commercial development. Long Beach Island is 1–2 miles away from Mainland New Jersey. The primary industries include tourism, fishing, and real estate. The only access point to the island by land is a single causeway. The island is the southernmost point of the New York Metropolitan Area.

The island is home to about 10,000 people on a year-round basis. The population is distributed among six separate municipalities, the largest of which is Long Beach Township. However, the island's population swells significantly during the summer months and reaches about 100,000 people, including part-time residents and tourists, who are often referred to as "shoobies". The island's close-knit communities are largely affluent and contain vacation homes for wealthy individuals who reside elsewhere, primarily New Jersey as well as New York, Pennsylvania, and Connecticut.

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New York Metropolitan Area in the context of Somerville, New Jersey

Somerville is a borough in and the county seat of Somerset County, in the U.S. state of New Jersey. The borough is located in the heart of the Raritan Valley region within the New York Metropolitan Area, located about 33 miles (53 km) from Manhattan and 20 miles (32 km) from Staten Island. The borough has grown to become a commercial hub for Central Jersey and commuter town of New York City.

As of the 2020 United States census, the borough's population was 12,346, an increase of 248 (+2.0%) from the 2010 census count of 12,098, which in turn reflected a decline of 325 (-2.6%) from the 12,423 counted in the 2000 census.

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New York Metropolitan Area in the context of Franklin Township, Somerset County, New Jersey

Franklin Township is a township in Somerset County, in the U.S. state of New Jersey. It is centrally located in the Raritan Valley region within the New York Metropolitan Area. As of the 2020 United States census, the township's population was 68,364, an increase of 6,064 (+9.7%) from the 2010 census count of 62,300, which in turn reflected an increase of 11,397 (+22.4%) from the 50,903 counted in the 2000 census. The township was the sixth most populous municipality in Central Jersey and the 19th most-populous municipality statewide in 2020, after being ranked 22nd in 2010.

Traditionally a farming community, it has become a fast-growing suburb with massive development in the late 20th and early 21st centuries, fostering a diverse blend of races, religions, and cultures. In 2008, Franklin Township ranked #5 on Money magazine's list of America's Top 100 Best Places to Live.

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New York Metropolitan Area in the context of Hillsborough Township, New Jersey

Hillsborough Township is a township in Somerset County, in the U.S. state of New Jersey. Located in the Raritan Valley region, the township is a suburban and exurban bedroom community of New York City within the New York Metropolitan Area. As of the 2020 United States census, the township's population was 43,276, an increase of 4,973 (+13.0%) from the 2010 census count of 38,303, which in turn reflected an increase of 1,669 (+4.6%) from the 36,634 counted in the 2000 census.

Hillsborough Township was originally created by royal charter issued May 31, 1771, which was revoked and revised on September 12, 1771. It was incorporated on February 21, 1798 by the New Jersey Legislature Township Act of 1798 as one of New Jersey's original group of 104 townships. Portions of the township were taken to form the boroughs of Millstone (May 14, 1894) and Manville (April 1, 1929). The township's name may have come from an earlier name of "Hillsbury", though it may have been named for Wills Hill, 1st Marquess of Downshire who was the Earl of Hillsborough. Based on an analysis of data from the FBI's Uniform Crime Report for 2022, Hillsborough Township was ranked as the second-safest small city in the United States.

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New York Metropolitan Area in the context of New City, New York

New City is a hamlet and census-designated place in the town of Clarkstown, Rockland County, New York, United States, part of the New York Metropolitan Area. A suburb of New York City, the hamlet is located 18 miles (29 km) north of the city at its closest point, Riverdale, Bronx. Within Rockland County, New City is located north of Bardonia, northeast of Nanuet, east of New Square and New Hempstead, south of West Haverstraw and the village of Haverstraw, and west of Congers (across Lake DeForest). New City's population was 35,101 at the 2020 census, making it the 14th most populous CDP/hamlet in the state of New York.

New City is the county seat, seat of the town of Clarkstown and the location of the Clarkstown Police Department, Rockland County Sheriff's office and corrections facility. The downtown area is one of the main business districts in the county. The ZIP code of New City is 10956.

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