The name of the Island for which the Statue of Liberty stands is known as “Liberty Island”. It was given the name Liberty Island by an act of congress in 1956. Before that it was called Bedloe’s Island and was recognized by dutch colonists as being a rich resource for harvesting oysters. After the start of the 20th century though, landfilling would eventually destroy the repopulating oyster colonies along the shores. The Island is approximately 14.717 acres and is the property of the United States Federal Government. For anymore questions please leave a comment in the comments section below.