The bronze statue of Nikola Tesla honors the Serbian-American designer of the modern alternating current (AC) electricity supply system that could be transported over large distances. His work enabled the construction of the first hydroelectric power plant in Niagara Falls and the electrification of large cities far from the river. The monument was designed by the Croatian sculptor Frano Krsinic as a gift of the Yugoslav people to the United States in 1976 to celebrate the 200th anniversary of the adoption of the Declaration of Independence.