Economy

1. By: Sarah Economy

2. The United States Bureau of Economic Analysis estimates that Massachusetts' gross state product in 2008 was US$365 billion.[111] The per capita personal income in 2008 was $50,735, making it the third highest state in the nation.[112] 13 Fortune 500companies are located in the commonwealth, the largest of which isLiberty Mutual Insurance Group.[113] Sectors vital to the Massachusetts economy include higher education, biotechnology, finance, health care, and tourism. Route 128 was a major center for the development of minicomputers and electronics.[77] High technology remains an important sector, though few of the largest technology companies are based there. In recent years tourism has played an ever-important role in the state's economy, with Boston and Cape Cod being the leading destinations. Other popular tourist destinations include Salem, Plymouth and the Berkshires. As of April 2010, the state's unemployment rate was 9.2%.[114]

3. How Resources Are Used To Make a Living • As of 2005, there were 7,700 farms in Massachusetts encompassing a total of 520,000 acres (2,100 km2), averaging 68 acres (0.28 km2) apiece.[115] Almost 2,300 of Massachusetts' 6,100 farms grossed under $2,500 in 2007.[115] Particular agricultural products of note include tobacco, livestock, and fruits, tree nuts, and berries, for which the state is nationally ranked 11th, 17th, and 16th, respectively.[115] Massachusetts is the second largest cranberry producing state in the union (after Wisconsin).[116] • Cape Cod Bay, a leading tourist destination in Massachusetts. Tourism is of growing importance to the state's economy.

4. See also: Category:Transportation in Massachusetts • The Massachusetts Bay Transportation Authority, serving Greater Boston. • Massachusetts has 10 regional metropolitan planning organizations and three non-metropolitan planning organizations covering the remainder of the state; statewide planning is handled by the Massachusetts Department of Transportation. The Massachusetts Bay Transportation Authority (MBTA) operates public transportation in the form of subway,[120]bus[121] and ferry[122] systems in the Metro Boston area. It also operates longer distance commuter rail services throughout the larger Greater Boston area, including service to Worcester and Providence, Rhode Island.[123]Amtrak operates inter-city rail, including the high-speed Acela service to cities such as Providence, New Haven, New York City, and Washington, D.C.[124] Fifteen other regional transit authorities provide public transportation in the form of bus services in their local communities.[125]

5. Two heritage railways are in operation: the Cape Cod Central Railroad and the Berkshire Scenic Railway.[126][127] As of 2006, a number of freight railroads were operating in Massachusetts, with CSX being the largest carrier. Massachusetts has a total of 1,079 miles (1,736 km) of freight trackage in operation.[128]The Woods Hole, Martha's Vineyard and Nantucket Steamship Authority regulates freight and passenger ferry service to the islands and operates some of those lines.[129]

6. The first nationally chartered bank in the United States, the Bank of North America, was founded in 1781 in Philadelphia. After a series of mergers, the Bank of North America is part of Wachovia, which uses national charter 1. It is not known if the Bank of North America's charter will be retained after March 2010 when Wells Fargo, which acquired Wachovia in 2008, consolidates its own charter and Wachovia's under the name Wells Fargo, N.A. • Pennsylvania is also the home to the first nationally-chartered bank under the 1863 National Banking Act. That year, the Pittsburgh Savings & Trust Company received a national charter and renamed itself the First National Bank of Pittsburgh as part of the National Banking Act. That bank is still in existence today as PNC Financial Services, and remains based in Pittsburgh. PNC is the state's largest bank, and the fifth-largest in the United States.

7. How and why industry has changed over time • New York has one of the most extensive and one of the oldest transportation infrastructures in the country. Engineering difficulties because of the terrain of the state and the unique issues of the city brought on by urban crowding have had to be overcome since the state was young. Population expansion of the state generally followed the path of the early waterways, first the Hudson River and then the Erie Canal. Today, railroad lines and the New York State Thruway follow the same general route. The New York State Department of Transportation is often criticized for how they maintain the roads of the state in certain areas and for the fact that the tolls collected along the roadway have long passed their original purpose. Until 2006, tolls were collected on the Thruway within The City of Buffalo. They were dropped late in 2006 during the campaign for Governor (both candidates called for their removal). • In addition to New York City's famous mass transit subway, four suburban commuter railroad systems enter and leave the city: the Long Island Rail Road, Metro-North Railroad, Port Authority Trans-Hudson, and five of New Jersey Transit's rail lines. Many other cities have urban and regional public transportation. In Buffalo, the Niagara Frontier Transportation Authority runs the Buffalo Metro Rail light-rail system; in Rochester, the Rochester Subway operated from 1927 until 1956 but has fallen into disuse.

8. How and why industry has changed over time • The New York State Department of Motor Vehicles (NYSDMV or DMV) is the governmental agency responsible for registering and inspecting automobiles and other motor vehicles as well as licensing drivers in the State of New York. As of 2008, the NYSDMV has 11,284,546 drivers licenses on file[40] and 10,697,644 vehicle registrations in force.[41] All gasoline powered vehicles registered in New York State must get an emissions inspection every 12 months. Diesel powered vehicles with a Gross Weight Rating over 8 500 lb that are registered in the NY Metropolitan Area must get an annual emissions inspection. All vehicles registered in NYS must get an annual safety inspection.

9. The New York State Department of Motor Vehicles (NYSDMV or DMV) is the governmental agency responsible for registering and inspecting automobiles and other motor vehicles as well as licensing drivers in the State of New York. As of 2008, the NYSDMV has 11,284,546 drivers licenses on file[40] and 10,697,644 vehicle registrations in force.[41] All gasoline powered vehicles registered in New York State must get an emissions inspection every 12 months. Diesel powered vehicles with a Gross Weight Rating over 8 500 lb that are registered in the NY Metropolitan Area must get an annual emissions inspection. All vehicles registered in NYS must get an annual safety inspection. • Portions of the transportation system are intermodal, allowing travelers to easily switch from one mode of transportation to another. One of the most notable examples is AirTrain JFK which allows rail passengers to travel directly to terminals at John F. Kennedy International Airport. • In May 2009 the New York City Department of Transportation under the control of Transportation Commissioner Janette Sadik-Khan banned cars from Times Square. The move designed to reduce pollution and pedestrian accidents looks likely to be implemented permantly, and will last at least until the end of the year.[42]

10. In addition to New York City's famous mass transit subway, four suburban commuter railroad systems enter and leave the city: the Long Island Rail Road, Metro-North Railroad, Port Authority Trans-Hudson, and five of New Jersey Transit's rail lines. Many other cities have urban and regional public transportation. In Buffalo, the Niagara Frontier Transportation Authority runs the Buffalo Metro Rail light-rail system; in Rochester, the Rochester Subway operated from 1927 until 1956 but has fallen into disuse. • The New York State Department of Motor Vehicles (NYSDMV or DMV) is the governmental agency responsible for registering and inspecting automobiles and other motor vehicles as well as licensing drivers in the State of New York. As of 2008, the NYSDMV has 11,284,546 drivers licenses on file[40] and 10,697,644 vehicle registrations in force.[41] All gasoline powered vehicles registered in New York State must get an emissions inspection every 12 months. Diesel powered vehicles with a Gross Weight Rating over 8 500 lb that are registered in the NY Metropolitan Area must get an annual emissions inspection. All vehicles registered in NYS must get an annual safety inspection.

11. How and why industry has changed over time • Portions of the transportation system are intermodal, allowing travelers to easily switch from one mode of transportation to another. One of the most notable examples is AirTrain JFK which allows rail passengers to travel directly to terminals at John F. Kennedy International Airport. • In May 2009 the New York City Department of Transportation under the control of Transportation Commissioner Janette Sadik-Khan banned cars from Times Square. The move designed to reduce pollution and pedestrian accidents looks likely to be implemented permantly, and will last at least until the end of the year.[42]

12. POPULATION By: Sarah, Abby,Nadia, Xavier

13. In 2006, New York was the third largest state in population after California and Texas,[26] with an estimated population of 19,541,453 as of July 1, 2009.[27] This represents an increase of 513,481, or 2.7%, since the last census in 2000.[28] It includes a natural increase since the last census of 803,680 people (that is 2,072,765 births minus 1,269,085 deaths) and a decrease due to net migration of 698,895 people out of the state.[28].