Portsmouth, N.H., a city of 23,000, sits near the mouth of the Piscataqua River, a short, wide river that divides New Hampshire and Maine. The city also is at the hub of a metropolitan region that includes several small cities and many towns. <br> Settled in 1623, Portsmouth lays claim to being the nation's third-oldest city. It served as a focal point on the Eastern seaboard until the late 1800s when rail travel did in the shipping industry. John Paul Jones' ship The Ranger was built in Portsmouth, and the Portsmouth Naval Shipyard (which lies across the river in Maine) was established in 1800 as the country's first Naval shipyard. <br> The geographic location, historic past and cultural strength of the area regularly lands it on various "best places to live" lists. <br> The region is noted for its many restaurants, attractions and shopping opportunities, which include outlet malls in North Hampton and in Kittery, Maine, as well as major malls in Newington, New Hampshire.<br> In October 2002, the local economy was about it was like the rest of country, mixed. Unemployment was fairly low, housing costs high, and the vacancy rate low. The redevelopment of Pease Air Force Base was generating new job opportunties.