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Exploring New York City Borough Economies
The Bronx is the northernmost borough of New York City, as well as the only borough located in the mainland United States. It is a highly residential borough and home to about 1.4 million people, making it the 5th most populous county in the State and the 26th most populous in the country. Most real property in the borough is residential, predominantly in the form of multi-family units such as apartments rather than single-family homes. The economy of the borough is primarily locally oriented, with heavy concentration in the Trade and Services sectors.
Brooklyn, or Kings County, is New York City’s most populous borough with 2.5 million residents, or 30.7% of the City’s total population. Brooklyn’s 71 square miles are home to a diverse and growing retail market, entertainment, and residential areas. The borough’s economy is primarily locally-oriented, with heavy concentrations in the Services and Trade sectors.
The Manhattan Borough Report demonstrates how the City’s historic birthplace is known throughout the globe as the economic and financial capital of the world - and for good reason. Not only is it home to iconic destinations like the Empire State Building, Times Square, and the New York Stock Exchange, it’s also home to more than 2 million private sector jobs - the highest share of all five boroughs - as well as the lowest unemployment rate in the city.
Queens covers 35% of New York City’s total area, making it the largest of the five boroughs and the second most populous county in New York State. With one of the most ethnically diverse urban populations in the world, Queens is an increasingly popular place to live, do business, and visit.
Spread over 30,734 acres, Staten Island is the third largest borough in the City. It has one-fifth of the City’s shoreline, and half of its waterfront is designated for industrial use. There are over 170 parks covering more than 12,300 acres, with 4,000 acres on the waterfront. The borough’s economy is locally oriented, with heavy concentrations in Health Care and Social Assistance as well as Retail Trade.