New York City York metropolitan area produced a gross metropolitan product (GMP) of US$1.73 trillion. If greater New York City were a sovereign state, it would have the 12th highest GDP in the world. New York City traces its origins to a trading post founded by colonists from the Dutch Republic in 1624 on Lower Manhattan; the post was named New Amsterdam in 1626. The city and its surroundings came under English control in 1664 and were renamed "New York" after King Charles II of England granted the lands to his brother, the Duke of York. New York served as the capital of
History of the New York City Subway slow, but several connections were built between the IND and BMT, which now operate as one division called the B Division. Since the IRT tunnel segments are too small and the stations too narrow to accommodate B Division cars, the IRT remains its own division, the A Division. The NYCTA, a public authority presided over by New York City, was created in 1953 to take over subway, bus, and streetcar operations from the city. The NYCTA was under control of the state-level MTA in 1968. Soon after the MTA took control of the subway, New York City entered a fiscal