Search

The article assesses the status of the economy in Long Island, New York in the context of national business trends. The island's economy is evidently feeling the effects of the national economic slowdown due to higher food and energy prices, falling home prices and an ongoing credit crunch. Trouble is also seen in the job market as payrolls fell by 49,000 jobs in May 2008, leading to rise in unemployment rate from 5.0% to 5.5%.

Focuses on the financial effects of the City rebuilding program following the terrorist attack to the industries in New York, New York. Revenue gains in ironwork and furniture companies; Increase of customers in the security industry; Gains of the construction industry.

Reports on the impact of the terrorist attack in the World Trade Center (WTC) in New York City on September 11, 2001 to the United States and the state of Montana. Comparison of the WTC attack with that of other disasters in the country in terms of property loss and gross development product; How the WTC attack would impact the economy; Factor attributed to the deceleration of Montana's economy prior to the attack.

Staten Island's Howland Hook Marine Terminal is deep in expansion mode. Dredging in the harbor is making room for bigger ships and construction of a rail line is under way. Begun as a Dutch trading post in 1600's, New York still reaps great economic benefits from its position as one of the nation's most important port cities. Last year, the Port of New York and New Jersey shipped a record $100 billion worth of cargo, bringing $20 billion worth of economic impact to the region. Over the past few decades, New Jersey has come to dominate the region's waterfront shipping industry, with giant container terminals at Port Newark and Port Elizabeth.

Forecasts the economic conditions of New York City after the September 11, 2001 terrorist attacks on the World Trade Center and how industries are being affected. Tourist trade; Financial services industry; Real estate industry.

The article reports that the state government of New York will cut back on its pay-as-you-go financing and sell more bonds to finance capital spending in the 2009 fiscal year which began on April 1, 2008. The state's Division of the Budget revealed that the capital spending for 2009 will total $9.15 billion which is 17.8% high from $7.77 billion in 2008 fiscal year. It is explained that the move is due to the fact that the economy of the state weakens.