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Rochester's gross metropolitan product is US$50.6 billion-above those of Albany and Syracuse, but below that of Buffalo. The Rochester metropolitan area is the third-largest regional economy in New York, after the New York City metropolitan area and the Buffalo-Niagara Falls Metropolitan Area. While the city experienced some significant population loss as a result of deindustrialization, strong growth in the education and healthcare sectors boosted by elite universities and the slower decline of bedrock companies such as Eastman Kodak and Xerox (as opposed to the rapid fall of heavy industry with steel companies in Buffalo and Pittsburgh) resulted in a much less severe contraction than in most Rust Belt metro areas. Today, Rochester's economy is defined by technology and education (aided by a highly educated workforce, research institutions, and other strengths born in its past). Rochester has also played a key part in US history as a hub for certain important social and political movements, especially abolitionism and the women's rights movement. This status has been aided by the presence of several internationally renowned universities (notably the University of Rochester and Rochester Institute of Technology) and their research programs these schools, along with many other smaller colleges, have played an increasingly large role in Greater Rochester's economy. Rochester rose to prominence as the birthplace and home of some of America's most iconic companies, in particular Eastman Kodak, Xerox, and Bausch & Lomb (along with Wegmans, Gannett, Paychex, Western Union, French's, Constellation Brands, Ragú, and others), by which the region became a global center for science, technology, and research and development. The city was one of the United States' first boomtowns, initially due to the fertile Genesee River Valley, which gave rise to numerous flour mills, and then as a manufacturing center, which spurred further rapid population growth.
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The city of Rochester forms the core of a larger metropolitan area with a population of 1 million people, across six counties. state of New York, the seat of Monroe County, and the fourth-most populous in the state after New York City, Buffalo, and Yonkers with a population of 211,328 in 2020. Rochester ( / ˈ r ɒ tʃ ɛ s t ər, - ɪ s-/) is a city in the U.S.