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New York City is the leading center of banking, finance and communication in the nation and is the location of the New York Stock Exchange, the largest stock exchange in the world by dollar volume. Many of the world’s largest corporations are based in New York City.
New York also has a large manufacturing sector that includes printing and the production of garments, furs, railroad equipment and bus line vehicles. Many of these industries are concentrated in upstate New York regions. Albany and the Hudson Valley are major centers of nanotechnology and microchip manufacturing, while the Rochester area is important in photographic equipment and imaging.
The state is a major agricultural producer, ranking among the top five states for agricultural products including dairy, cabbage, potatoes, onions, maple syrup, apples, cherries and many others. New York is the largest producer of cabbage in the nation. New York has about a quarter of its land in farms and produced US$3.4 billion in agricultural products in 2001. The south shore of Lake Ontario provides the right mix of soils and microclimate for many cherry, plum, pear, apple and peach orchards. Apples are also grown in the Hudson Valley and near Lake Champlain. The south shore of Lake Erie and the southern Finger Lakes hillsides have many vineyards. The state is the nation’s third-largest grape-producing state, behind California, and second largest wine producer by volume. In 2004, the state’s wine and grape industry brought US$6 billion into the state economy. New York has 30,000 acres of vineyards, 212 wineries, and produced 200 million bottles of wine in 2004. A moderately sized saltwater commercial fishery is located along the Atlantic side of Long Island. The principal catches are clams, squid, lobsters and flounder.
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