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
Seal of New York City after the American Revolution. Prior to this change, a crown had been located in this space, representing the authority of the monarchy during the British colonial period. The eagle rests upon a hemisphere. At the bottom is the date, 1625, when Fort Amsterdam was designated the capital of the province of New Amsterdam, the colonial Dutch settlement which would later become the City of New York. The first Dutch settlers actually arrived in the region in 1624, and the town of New Amsterdam was incorporated in 1653. The English came in 1664, and the Dutch Governor Peter Stuyvesant surrendered, signing