Editing Brooklyn (section)

==Economy==
{{See also|Economy of New York City}}
[[File:The_Brooklyn_Tower_010.jpg|thumb|[[The Brooklyn Tower]], the [[List of tallest buildings in Brooklyn|tallest building in Brooklyn]] and the [[List of tallest buildings in New York City|tallest in New York State outside Manhattan]].]]

Brooklyn's job market is driven by three main factors: the performance of the national and city economy, population flows and the borough's position as a convenient back office for New York's businesses.<ref name="report">{{Cite web|url=http://www.bedc.org/statistics/Dept_Labor_Brookyn_Report_april_2006.html|archive-url=https://web.archive.org/web/20070302083558/http://www.bedc.org/statistics/Dept_Labor_Brookyn_Report_april_2006.html|url-status=usurped|title=Dept of Labor Brookyn Report April 2006|archive-date=March 2, 2007|author=Brooklyn Economic Development Corporation}}</ref>

Forty-four percent of Brooklyn's employed population, or 410,000 people, work in the borough; more than half of the borough's residents work outside its boundaries. As a result, economic conditions in Manhattan are important to the borough's jobseekers. Strong international immigration to Brooklyn generates jobs in services, retailing and construction.<ref name="report" />

Since the late 20th century, Brooklyn has benefited from a steady influx of financial [[back office]] operations from Manhattan, the rapid growth of a [[high-tech]] and entertainment economy in [[DUMBO, Brooklyn|DUMBO]], and strong growth in support services such as accounting, personal supply agencies, and computer services firms.<ref name="report" />

Jobs in the borough have traditionally been concentrated in manufacturing, but since 1975, Brooklyn has shifted from a manufacturing-based to a service-based economy. In 2004, 215,000 Brooklyn residents worked in the services sector, while 27,500 worked in manufacturing. Although manufacturing has declined, a substantial base has remained in apparel and niche manufacturing concerns such as furniture, fabricated metals, and food products.<ref>New York City Economic Development Corporation, Brooklyn Borough Update March 2004. [http://www.bedc.org/statistics/mfrg_employment_data.htm] {{webarchive|url=https://web.archive.org/web/20150201000455/http://www.bedc.org/statistics/mfrg_employment_data.htm|date=February 1, 2015}}</ref> The pharmaceutical company [[Pfizer]] was founded in Brooklyn in 1869 and had a manufacturing plant in the borough for many years that employed thousands of workers, but the plant shut down in 2008. However, new light-manufacturing concerns in packaging organic and high-end food have sprung up in the old plant.<ref>{{cite news|url=https://www.nytimes.com/2012/03/28/business/food-start-ups-flock-to-old-pfizer-factory-in-brooklyn.html |archive-url=https://web.archive.org/web/20120328090305/http://www.nytimes.com/2012/03/28/business/food-start-ups-flock-to-old-pfizer-factory-in-brooklyn.html |archive-date=March 28, 2012 |url-access=subscription |url-status=live|title=Food Start-Ups Find a Home in Brooklyn|date=March 28, 2012|work=The New York Times}}</ref>

First established as a [[shipbuilding]] facility in 1801, the [[Brooklyn Navy Yard]] employed 70,000 people at its peak during World War II and was then the largest employer in the borough. The ''[[USS Missouri (BB-63)|Missouri]]'', the ship on which the Japanese formally surrendered, was built there, as was the ''[[USS Maine (ACR-1)|Maine]]'', whose sinking off Havana led to the start of the Spanish–American War. The iron-sided Civil War vessel the ''[[USS Monitor|Monitor]]'' was built in Greenpoint. From 1968 to 1979 [[Seatrain Lines|Seatrain Shipbuilding]] was the major employer.<ref>[http://www.BrooklynSteelBloodTenacityAppendix.com/ A Case Study of Seatrain Shipbuilding & the Brooklyn Navy Yard] {{Webarchive|url=https://web.archive.org/web/20160503164111/http://www.brooklynsteelbloodtenacityappendix.com/ |date=May 3, 2016 }}.</ref> Later tenants include industrial design firms, food processing businesses, artisans, and the film and television production industry. About 230 private-sector firms providing 4,000 jobs are at the Yard.

Construction and services are the fastest-growing sectors.<ref>{{Cite web|url=http://www.bedc.org/statistics/employbyind.htm|archive-url=https://web.archive.org/web/20080703162321/http://www.bedc.org/statistics/employbyind.htm|url-status=usurped|title=Brooklyn Employment by Industry|archive-date=July 3, 2008|author=Brooklyn Economic Development Corporation}}</ref> Most employers in Brooklyn are small businesses. In 2000, 91% of the approximately 38,704 business establishments in Brooklyn had fewer than 20 employees.<ref>{{Cite web|url=http://www.bedc.org/statistics/firmsbyemployees.htm|archive-url=https://web.archive.org/web/20080703162433/http://www.bedc.org/statistics/firmsbyemployees.htm|url-status=usurped|title=Brooklyn Firms by Number of Employees|archive-date=July 3, 2008|author=Brooklyn Economic Development Corporation}}</ref> {{As of|2008|alt=As of August 2008}}, the borough's unemployment rate was 5.9%.<ref>{{cite web |url=http://www.labor.state.ny.us/workforceindustrydata/nyc/index.shtm |archive-url=https://web.archive.org/web/20081005121423/http://www.labor.state.ny.us/workforceindustrydata/nyc/index.shtm |url-status=dead |archive-date=October 5, 2008 |title=New York State Dept of Labor |publisher=Labor.state.ny.us |access-date=October 24, 2010 }}</ref>

Brooklyn is also home to many banks and [[credit union]]s. According to the [[Federal Deposit Insurance Corporation]], there were 37 banks and 26 credit unions operating in the borough in 2010.<ref>{{cite web |url=http://www2.fdic.gov/idasp/main.asp |archive-url=https://web.archive.org/web/20000510085416/http://www2.fdic.gov/idasp/main.asp |url-status=dead |archive-date=May 10, 2000 |title=FDIC Office Directory |publisher=FDIC.gov |access-date=October 24, 2010 }}</ref><ref>{{cite web |url=https://www.branchspot.com/ny/brooklyn/ |title=Credit Unions in Brooklyn, NY |publisher=Branchspot.com |date=November 9, 2015 |access-date=November 9, 2015 |archive-date=January 13, 2016 |archive-url=https://web.archive.org/web/20160113023321/https://www.branchspot.com/ny/brooklyn/ |url-status=dead }}</ref>

The [[Zoning in the United States|rezoning]] of [[Downtown Brooklyn]] has generated over US$10 billion of private investment and $300 million in public improvements since 2004. Brooklyn is also attracting numerous [[high technology]] [[start-up company|start-up companies]], as [[Silicon Alley]], the [[metonym]] for New York City's [[entrepreneurship ecosystem]], has expanded from [[Lower Manhattan]] into Brooklyn.<ref>{{cite web|url=http://www.businessinsider.com/hottest-brooklyn-startups-2015-2|title=These are the 11 hottest tech startups in Brooklyn|author=Maya Kosoff|work=Business Insider|date=February 5, 2015|access-date=March 29, 2016}}</ref>