Milwaukee is the most populous city in the U.S. state of Wisconsin. Located on the western shore of Lake Michigan, it is the 31st-most populous city in the United States and fifth-most populous city in the Midwest with a population of 577,222 at the 2020 census, while the Milwaukee metropolitan area with over 1.57 million residents is the 40th-largest metropolitan area in the nation. It is the county seat of Milwaukee County. Founded in the early 19th century and incorporated in 1846, Milwaukee grew rapidly due to its location as a port city. Its history was heavily influenced by German immigrants and it continues to be a center for German-American culture, specifically known for its brewing industry. The city developed as an industrial powerhouse during the 19th and early 20th centuries. Milwaukee is an ethnically and culturally diverse city, however it continues to be one of the most racially segregated cities as a result of early-20th-century redlining. Milwaukee is rated as a "Sufficiency" city by the Globalization and World Cities Research Network, with a regional GDP of over $130 billion in 2023. The city is home to the Fortune 500 companies of Northwestern Mutual, Fiserv, WEC Energy Group, Rockwell Automation, and Harley-Davidson. Its cultural institutions include the Milwaukee Art Museum, Milwaukee Public Museum, Discovery World, and Summerfest, one of the world's largest music festivals. It is home to several higher education institutions, including the University of Wisconsin–Milwaukee, Milwaukee School of Engineering and Marquette University. The city's major league professional sports teams include the Milwaukee Brewers (MLB) and Milwaukee Bucks (NBA).