The borough of Queens has a growing and vibrant economy that is benefiting from continued public and private sector investments and actions. Queens has the second-largest and most diversified economy of the five boroughs that make up New York City. Queens has a high concentration of export-oriented jobs (which service the needs of customers outside the region), and these typically pay higher wages than locally oriented jobs (which service the needs of local residents).
Immigration has had a strong influence on the Queens economy. More than half of all Queens residents are now foreign-born-- a much greater concentration than any other borough in New York City, and many of its neighborhoods reflect the rich cultural heritage of their residents.
No single industry overwhelmingly dominates the Queens economy. The airline industry is a key component of the borough economy and is a major employer in the neighborhoods around JFK and LaGuardia airports. Health care and social assistance is a major employer in Queens and has been steadily growing in recent years. Two-thirds of all businesses in Queens employ between one and four people, making small businesses an important part of the borough's economic vitality.