Long Island

:This article is about Long Island in New York State. For other uses, see Long Island (disambiguation)

Economy

The counties of Nassau and Suffolk on eastern Long Island, and to which people often refer to as 'Long Island', have long been renowned as an affluent place in which to live. With the median price of houses at $400,000 USD, Long Island has a very high standard of living rate with residents paying some of the highest property taxes in the country. Long Island is home to some of the most expensive houses in the country. In fact, the most expensive residence in the country is Three Ponds in Bridgehampton, Long Island. http://biz.yahoo.com/special/exphomes05_article1.html

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The economy of Long Island has long benefitted from its proximity to New York City, although after World War II, Long Island began developing industry of its own. From 1950-1980, Long Island was considered one of the aviation centers of the United States with companies such as Grumman making its headquarters in the area. In recent decades companies such as Computer Associates, with its headquarters in Islandia, have made Long Island a center for the computer industry. Nevertheless, the eastern end of the island is still partly agricultural, now including many vineyards as well as traditional truck farming. Fishing also continues to be an industry, at Northport and Montauk.

Related Topics:
World War II - Grumman - Computer Associates - Vineyard - Truck farming - Fishing - Northport - Montauk

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Since World War II, however, Long Island has become increasingly suburban and, in some areas, fully urbanized. Levittown was only the first of many new suburbs, and businesses followed residential development eastward. The South Fork contains the area known as the Hamptons, which also experienced a population boom after World War II.

Related Topics:
World War II - Levittown - The Hamptons

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