Economy
Food production and processing as well as engineering are major employers in the area, as are the many research facilities of major computer software and pharmaceutical companies.
The city's industry for a long time was linked to the French tyre manufacturer Michelin, which created the radial tyre and grew up from Clermont-Ferrand to become a worldwide leader in its industry. For most of the 20th century, it ran extensive factory works throughout the city, employing up to 30,000 workers at a time. While the company has maintained its headquarters in the city, most of the manufacturing is now done in foreign countries. This downsizing took place gradually, allowing the city to court new investment in other industries, avoiding the fate of many post-industrial cities and keeping it a very wealthy and prosperous area home of many high-income executives.
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Famous quotes containing the word economy:
“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 counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“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)