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6 Economy
New York is a center of many industries in the United States.
It was the early center of the American film industry, until it moved to Los Angeles, and still has some movie and television production.
New York is also a financial center for the country, containing the New York Stock Exchange, NASDAQ, American Stock Exchange, New York Mercantile Exchange, and New York Board of Trade. The New York financial industry is based in Wall Street, lower Manhattan.
New York is also the center of the clothing industry in the United States. Many fashions come out of New York from different designers.
New York also has a lot of book publishers, which often have New York as the very first city in publishing.
New York also has a large tourism industry. See below for more details about the tourism industry.
6.1 Major corporations based in New York City
Altria was based here under its former name Phillip Morris. Altria is still based here, although some of its major subsidiaries are headquartered elsewhere (for example, Philip Morris USA is in Richmond, Virginia, and Kraft Foods has its home in suburban Chicago). Texaco was based here until it merged with Chevron into San Ramon, California based ChevronTexaco. The Chrysler Building was funded by famed Detroit car mogul Walter P. Chrysler, and it later served as the inspiration for the Chrysler New Yorker automobile. Numerous other companies are based in the New York City metropolitan area but outside the city limits.
