Economy
The most important employer in Barnard Castle is GlaxoSmithKline which has a large pharmaceutical manufacturing plant on the outskirts of the town which employs around 1000 people. The number of people employed could potentially be doubled if the site is chosen as the site of a new bio-pharmaceutical plant. GSK has invested over £80 million into the plant since 2006, and the company plans to spend a further £25 million in 2011 upgrading and investing in buildings and machinery.
Barnard Castle is located in a picturesque area of Teesdale and tourism is important to the local economy. Several holiday parks are located nearby including a Camping and Caravanning Club site and a new site for the Caravan Club. The town has a number of antique shops and an antique centre which attracts antique buyers from all around the world. The High Street has many independent shops.
Nearby Startforth has a young offenders' institution.
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Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“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)