Providence is the state capital, the largest city in Rhode Island, and one of the first cities established in America. Once a seafaring and trading town, the city has survived the economic decline that began after World War II to become one of New England's major commercial, financial, and industrial centers as well as one of the largest jewelry manufacturers in the country. A relaxed and cosmopolitan city, Providence in recent years turned two rivers back to their natural courses and created a riverwalk and a downtown park called Waterplace.