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
Signaling of the New York City Subway more delays and prompting the MTA to declare a state of emergency for the subway in 2017. An MTA investigation found that between December 2017 and January 2018, broken signals caused 11,555 train delays. In summer 2018, New York City Transit started evaluating twenty places where signal timers affect service the most. In summer 2018, the SPEED Unit was created to reduce delays by modifying operating and service practices. Andy Byford, the President of New York City Transit, initiated the unit after listening to riders and workers, who told him that slow speeds were a major issue. Starting in September