2. *New York had two advantages in the 19 th century 1. The location of it’s port 2.Growing capital markets. * New york’s leaders believed they could transform these islands to become the economic capital of the U.S. One example is the creation of the Erie Canal. It made New York in charge of all U.S. exports to Europe . * After the industrial revolution, motion pictures and television were invented. Manhattan became headquarters for many important TV networks.