Jacksonville is the largest city in the U.S. state of Florida, and is the county seat of Duval County. Jacksonville is located in the First Coast region of northeast Florida and is centered on the banks of the St. Johns River, about 25miles (40km) south of the Georgia border and about 340miles (547km) north of Miami. The European-American settlement that became Jacksonville was founded in 1791 as Cowford, so named because of its location at a narrow point in the river where cattle once crossed. Jacksonville's location on the St. Johns River and the Atlantic Ocean proved providential in the growth of the city and its industry. The largest city in the state, it is also the largest deepwater port in the south (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city's economy lies in its broad diversification. The area's economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries.