city, which was started in 1990. Man-planted palms also grace the main thoroughfare, Avenida JK. Economy Palmas was designed to be the economic and administrative center of Tocantins. The service sector is the main driver of the economy. The share of agriculture in the economy is less than the service sector, being based on small farms around the city and the highways that provide access to Palmas. Larger farms, which cultivate soybeans and raise livestock, are located in the district of Buritirana. The economy is mostly formal, consisting primarily of limited partnerships and sole proprietorships. Micro firms are the most common in the city, where they comprise over 80% of the 4394 companies. The city has four industrial districts, among them the Industrial District of Palmas, Tocantins Industrial District I Industrial District, and Industrial District Tocantins II of Taquaralto. All are located along the highways and TO-050 TO-010. Today Palmas city has become a center whose trade and economic influence covers the entire state of Tocantins, in addition to the southeastern Pará, the northeastern Mato Grosso, and the southern Maranhão. In town are branches of the following national banks: Banco do Brasil (7 agencies), Bradesco (five agencies, one of Bradesco Prime), Caixa Econômica Federal (4 agencies, 3 more ATM's), Itaú Unibanco (3 agencies), Banco da Amazônia (2 agencies), HSBC (1 agency), Santander (1 agency), Banco BMG (1 agency), Banco Cruzeiro do Sul (1 agency), and Tribanco (1 agency). Palmas has seven self-service terminals of the Banco 24 Horas interbank network. In 2007 the Gross Domestic Product had a strong expansion was estimated at $2.2 billion, driven by investments of the City of Palms in the economy. The increase in GDP of Palmas was 6% and, compared to that of Brazil was very considerable, as the country showed the percentage of 3.5%. By the end of 2007, and capital represented 18.4% of the wealth generated by Tocantins and 0.08% in the country. Due to this growth, Palmas has attracted major investments, such as the Capim Dourado Shopping (inaugurated in August/2010), the multimodal yard of the North-South (located in the municipality of Porto Nacional, on the banks of the TO-080), plus branches of hypermarket networks: Atacadão, Makro, Extra and Assam. Governance As in all cities in Brazil, Palmas has separate Executive and Legislative branches of local government, represented by the Mayor of Palmas and the Local Assembly, respectively. Since its founding, Palmas