What does New York City produce?

Pekelo said:
NYC does not produce diamonds, it is produced in produced in Africa. They might sell it in NYC, but it is not produced there... :)
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That is not true at all. You're getting mining and production/exporting confused.

Diamonds from Africa and abroad are imported into NYC as rough stones where they are "manufactured", meaning that they are cut and polished into fine gemstones by experts in the Diamond District in NYC. Those finished diamonds are then placed into fine jewelry pieces and exported all over the world as finished products. So again, the answer to the OP's question is that the #1 produced tangible good in NYC are non-industrial fine diamonds.
 
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Has anyone considered information, publishing, marketing as the tangibles of the 21st century? If so, NYC is also a leading global powerhouse in these sectors, perhaps, the number one city on earth.

surf
 
I see your point except if you do a search on this page, the word diamond is not even mentioned:

https://en.wikipedia.org/wiki/Economy_of_New_York_City

On the other hand the food industry and drug companies are mentioned as the biggest exporters of tangible goods...

"Food making is a $5 billion industry that employs more than 19,000 residents, .....Chocolate is New York City's leading specialty-food export, with $234 million worth of exports each year."

So if you can prove they make 5 billion worths of diamonds then you are right and you could update the Wiki...
 
marketsurfer said:
Has anyone considered information, publishing, marketing as the tangibles of the 21st century?
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Probably not unless somebody decides to change the definition of tangible.

tan·gi·ble
ˈtanjəb(ə)l/
  1. 1.
    a thing that is perceptible by touch.
 
Baron said:
Probably not unless somebody decides to change the definition of tangible.

tan·gi·ble
ˈtanjəb(ə)l/
  1. 1.
    a thing that is perceptible by touch.
More...

I would argue that publishing is a tangible. Plus depending on the form, information, and advertising.
 
Food and medicine are perceptible by touch last time I took a pill with milk.

You are thinking of this:

http://www.moti-israeli-diamonds.com/new-york-diamond-dealers-club

It is the Nasdaq of diamonds, an exchange but the diamond itself doesn't necessary have to be present to make a trade.

"In 2011 the DDC become the first official diamond exchange to launch a first fully functional online diamond trading floor and by doing so, it extended trading privileges to a new category of electronic members, who are able to do business daily even though they are not resident in the New York. All transactions on the DD online trading platform are secured, with the site acting as a guarantor to the seller for prompt payment of his merchandise and to the buyer for the exact specifications of the stone. As members of the DDC, both buyers and suppliers know that they are protected by the Club’s stringent membership requirements, by-laws, and a proven system of arbitration, in which disagreements can be promptly resolved by a neutral dispute resolution mechanism whose decisions are upheld by the New York State Supreme Court."
 
Pekelo said:
So if you can prove they make 5 billion worths of diamonds then you are right
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Ok, here you go. See first bar in the graph. $9.1 Billion.

Screen Shot 2017-04-24 at 10.00.38 AM.png


Moving on. :D
 
I have been approached several times this year by diamond investors and folks wanting to launch diamond funds. Knowing nothing about the space, I politely decline -- but it is fascinating.
 
If it is actually made products and not just traded, then you are right and welcomed to update the Wiki. TIL
 
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