Economy of New York City bank with a permanent vote on the Federal Open Market Committee and its president is traditionally selected as the Committee's vice chairman. The bank also has the largest gold repository in the world, larger even than Fort Knox. Its vault is 80 feet (25 m) beneath the street and holds $160 billion worth of gold bullion. Silicon Alley, centered in Manhattan, has evolved into a metonym for the sphere encompassing the New York City metropolitan region's high tech enterprises involving the Internet, new media, telecommunications, digital media, software development, biotechnology, game design, and other fields within information technology that are
Silicon Valley supports innovation and entrepreneurship. Attempts to create "Silicon Valleys" in environments where disruptive innovation does not go over well have a poor track record. The San Francisco Bay Area has the largest concentration of high-tech companies in the United States, at 387,000 high-tech jobs, of which Silicon Valley accounts for 225,300 high-tech jobs. Silicon Valley has the highest concentration of high-tech workers of any metropolitan area, with 285.9 out of every 1,000 private-sector workers. Silicon Valley has the highest average high-tech salary in the United States at $144,800. Largely a result of the high technology sector, the San Jose-Sunnyvale-Santa Clara,