The City of New York is not only a major international business hub but is
also one of the "command centers" for global economy. The finance,
insurance and media industry forms backbone of the city's economy.
Being the global business center, the city headquarters some of the most
important stock exchanges, banks and many other international corporations.
Besides housing NYSE, the largest Stock Exchange in world by dollar volume,
NYC also possesses NASDAQ, the world's largest by number of listings. Some
other financial markets of the city are the American Stock Exchange, New
York Mercantile Exchange and numerous Fortune 500 companies.
Not just the most important center for mass media, journalism and
publishing in the United States, NYC is also a chief arts center of the
country. Sectors like television and film industry of the city are the
second largest in the United States after Hollywood. Trade Fair and expo
centers like Jacob K. Javits Convention in the city is also internationally
famous venue where hundreds of Trade Shows are held which attracts
exhibitors and traders from across the globe.
Other important industries of the New York are medical research,
technology, non-profit institutions and universities and fashion. Rapidly
increasing commercial role of the citys medical laboratories and
research centers, science and research is a strong future growth sector.
Last but not the least, the creative industries like design, new media, and
architecture account for the large share of citys employment.
Major Business Centers
Jacob K. Javits Convention Center:
With exhibition space of over 675,000 sq. feet (62,700 m2), Javits center
is one of the most important exhibition venue of Unites States. Being a
major Expo site hosts some of the most significant international trade shows
annually like ASD/AMD Merchandise Show, Material World and Infosecurity.
American Stock Exchange (AMEX):
The third largest stock exchange by trading volume in the United States,
AMEX is located at Broad Street near Exchange Place. The Exchange handles
about 10% of all securities traded in the U.S.
AMEX has its roots back to colonial times when stockbrokers used to create
outdoor markets but now it has been merged with NASDAQ. Today it is home to
more than 700 companies and trades 20 corporate bonds.
AMEX is known for its trading of Exchange Traded Funding (ETFs) and hybrid
securities with majority of US listed ETF's being traded at the Exchange,
including the Standard & Poor's Depositary Receipts (SPDR) and most
New York Stock Exchange (NYSE):
Also known as Big Board, NYSE is the largest stock exchange in
the United States by dollar volume and second largest by number of companies
listed. The total market capitalization of companies listed on NYSE is five
times that of companies listed on NASDAQ.
Formed by merger with the fully electronic stock exchange Archipelago
Holdings, New York Stock Exchange is operated by NYSE Group. The NYSEs
main building is listed on the National Register of Historic Places that is
located at the famous Wall Street.
Major Commercial Hubs
Manhattan is the main commercial, financial and cultural center of New York
City. Lapping most of the famous landmarks, whether tourist or business, it
forms the famous skyline of New York.
Heartbeat of the New Yorks Business Life, Manhattan houses most of
the city's corporate headquarters and is also the seat of city government.
Some of the major commercial districts and buildings include Wall Street,
New York Stock Exchange, NASDAQ, Woolworth Building, World Financial Center
& Battery Park City. The District also houses the headquarters of the
United Nations Organization (UNO).
Situated at the heart of Midtown, Fifth Avenue is a symbol of wealthy New
York and is considered one of the most expensive streets in world due to its
expensive real estate and historical mansions. It is also one of the best
shopping streets in world after London's Oxford Street and Champs Elysées
Home to many landmarks and famous buildings like Empire State, the avenue
is also a popular retail center with numerous luxury stores.
The third largest central business district and most important shopping and
theatrical zone of New York City, Brooklyn is located in northwestern
section of the borough (administrative division) of Brooklyn. Numerous
important office buildings like Williamsburgh Savings Bank Tower, MetroTech
Center and Borough Hall (the seat of the county and borough government) give
the area its own skyline distinct from that of Manhattan.