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[D623]Dow Jones Industrial History
by John Maslow, Joh
You may not know that Rochester NY was the first American boomtown.This tract was purchased in 1803 by Colonel Nathaniel Rochester, for whom Rochester NY is named, Major Charles Carroll, and Colonel William Fitzhugh, Jr. largely because the cataracts of the Genesee River had the potential for generating a great deal of water power. The flour mills from which the city would earn its first nickname were eventually to take full advantage of this water power. This One Hundred Acre Tract was surveyed beginning in 1811, streets and roads were laid out, and in 1817 the original founders joined their holdings with that of other area landholders to form the Village of Rochesterville. Rochesterville was the seat of Monroe County, New York by 1821 and was rechartered as a city under the shortened name of Rochester in 1834.
By 1823, the Erie Canal had made its way westward, and an aqueduct was constructed over the Genesee River at the site of the present day Broad Street Bridge in downtown Rochester, NY. The Erie Canal now connected Rochester to all points east and west. Originally dubbed The Young Lion of the West, Rochester NY became known as the Flour City, reflecting its status by 1838 as the largest flour producing city in the United States. Also doubling in population by 1838, Rochester earned distinction as the first American boomtown. The Flour City eventually became known as the Flower City as the westward moving flour producing industry was replaced by numerous nurseries that had grown up around the city.The post Civil War years brought renewed industrial growth to the region. It was during this era that the Eastman Kodak Company and Bausch and Lomb were founded.The Gannett newspaper conglomerate and Western Union also had their start in Rochester NY. In response to the regional decline in manufacturing during the latter part of the twentieth century, imaging and optical science is now prominent among local universities and companies, giving Rochester its latest nickname as The Worlds Image Centre.
With its rich history of entrepreneurship and adaptation to change, Rochester NY is poised to weather any economic storm. Why not consider it as a place to hang your hat. Rochester NY will not disappoint.
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