List of Well-established Industries In The Iconic US Cities Sandra HinsonMay 18, 2021Business0 Comments 0 In America, the evolvement of the sector over the last decades is outstanding. The national economy has diversified and it resembles lucrative sectors that revolve around technology use. American cities are more dependent on sectors like technology, media, and financial services. Fortunately, even today the US is a powerhouse in global manufacturing. New York City – Financial Services It is a densely populated city that attracts millions of tourists. A global business center with a plethora of different sectors but financial services are popular. The finance and insurance sector in New York is assumed to generate 30% revenue. The average income is $69,513. Boston – Education Services The education service sector involves universities, colleges, secondary schools, and professional schools. The Harvard University of Boston is recognized. The ongoing economic recovery is due to tourism, enhanced employment rates, and demand for residential property. Detroit – Automobile manufacturing The cost of living in Detroit is 11% below the national average and the unemployment rate is more than 5%. Detroit has experienced several unfortunate episodes due to civil uncertainty, race riots, businesses relocating, job losses, etc. However, now household income is on an increase, criminal activities have reduced and Detroit is regaining its lost identity as America’s industrial hub. For oversized and heavy equipment shipping quotes, manufacturers can contact Ship A Car, Inc. Washington DC – Federal Government It is an epicenter of national and international politics. There are different industries, but the Federal Government is the largest employer in the metropolitan zone followed by the local government. Chicago – Financial Services The cost of living in Chicago is surprisingly below the national average based on the global stature, city’s size, and vast population. Chicago is popular among youngsters and there have been plenty of new industries emerging. Thus, there is a good balance between a better standard of living and a competitive job market. Besides financial services, it is also a center for the manufacturing and real estate sectors. Houston – Petroleum & natural gas Houston is referred to as World’s Oil capital and has more than 500 oil & gas exploration & production companies. Besides a prominent energy sector, Houston is also a hotspot for tourists. San Francisco – Technology The Bay Area houses an array of global technology companies in San Francisco. Technology is the fastest-growing sector and so the cost of living here has escalated to 73% above the national average. Fortunately, San Francisco is also the highest paying city in the US The average salary is $87,315 and the total compensation is around $112,400. Las Vegas – Casino Hotels and tourism World-famous casinos attract global tourists even if the place has a repute for notorious and low morale behavior. Even currently it has a little dent due to 2008’s financial crisis; it will soon regain its original boom via hotels, gaming, and tourism. Los Angeles – Movies & video production Los Angeles is a cultural center and remarkable business hub. It is a sea-front metropolis including iconic institutions, a spectacular mountain range, and a wealthy neighborhood. It is home to the popular film industry – Hollywood including major studios like Warner Bros, Walt Disney, Columbia Pictures, Paramount Pictures, and Universal Pictures. Seattle – Manufacturing Seattle is a huge business hub close to the Canadian border. It is surrounded by towering mountains, stunning scenery, and vast forest. Manufacturing is a large sector in Seattle and it collects the largest tax in America.