Economy
Main article: Economy of Allentown, PennsylvaniaAllentown's economy has historically been manufacturing-based. The city serves as the location of corporate headquarters for several large, global companies, including Air Products & Chemicals, PPL, and others. The largest employer in Allentown is Lehigh Valley Hospital and Health Network, with more than 7,800 employees.
In 2008, after more than 100 years in the city, Mack Trucks announced that their Allentown-based corporate headquarters would be relocated to Greensboro, North Carolina in 2009, though Mack continues to operate its primary manufacturing facility in neighboring Lower Macungie Township. It was expected that the move would result in the loss of approximately 600 jobs.
Read more about this topic: Allentown, Pennsylvania
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)