He is widely seen as the driving force behind the success of the confectionery company Terry's, originally co-founded by his father, through the expansion of business operations through the use of the Humber Estuary to import essential commodities such as sugar and cocoa.

The younger Joseph, along with his two brothers, Robert and John, are credited with moving confectionery production to an industrial scale with the leasing of a factory at Clementhorpe, beside the River Ouse, in 1862.

[6][7] Its location was particularly advantageous, as the 22-year-old Terry had drawn inspiration from the manipulation of the railways initiated by his father, and saw the benefit of importing and exporting from the river using steamboats.

[8] Vessels from the River Humber supplied coal for the factory, while larger ships would import ingredients such as sugar and cocoa from around the world twice a week.

[9] Two years later, there were 400 separate items in the firm's price list, with around 13 of them consisting of chocolate as a main ingredient; others included various candied peels, cakes, biscuits and jams among other more exotic products such as cream balls.

[12] Terry also converted the historically successful St Helen's Square premises into a ballroom and restaurant, whilst retaining its status as a confectionery shop, an arrangement that lasted until 1981.

[13] A committed Freemason,[2] Joseph Terry's successful local political career stemmed from a philanthropic and active approach to the issues of the citizens of Victorian York, often using his influential status for the benefit of the city's populace.

[12] On 23 June 1887, just two days after receiving his knighthood in that years Golden Jubilee Honours, Terry led a deputation to present an album of all documented issues encountered by York residents to Buckingham Palace for Queen Victoria's inspection.

[12][15] He further assisted in the duties of the York Cricket Club, promoting their historic move to Bootham Crescent in 1881, whilst concurrently serving on advisory panels for both the County Lunatic Asylum and the local Sunday School Committee.

[22] The party, in response to his growing popularity, allowed him to run for the Lord Mayoralty within the same year, to which he was elected by consensus, defeating the incumbent local brewer, John March.

[14] York City Council (1980) writes that his name "appeared at the head of every charitable subscription list" and that he was widely recognized as "magnificently bearded".

[32][33] Terry died of heart failure, induced by over-exertion, at the Royal Station Hotel on 12 January 1898, after attempting to win a by-election to become Member of Parliament for the City of York.

[16][39] However, the national journal Chemist and Druggist: The Newsweekly for Pharmacy described Terry's passing as "a tragic feature of the recent by-election" and the Yorkshire Herald fondly remarked "There was no person in the city more loved or respected, and no-one who was more possessed of the qualities that constitute a genial and amiable Englishman".

Further positive affirmation came in the form of the construction of the "Terry Memorial Homes" in the Skeldergate area of York, on a section of the front gardens of the Dame Middleton Hospital.

[41] The charitable project was built through public subscription of a collective £1,020 in 1898 in honour of the former Lord Mayor; it consisted of two brick-built almshouses, intended for married couples over the age of 60, with the York Municipal Charity trustees having the administrative authority to accommodate or reject applicants for tenancy.