Economy
In the city there are 38 banks represented through a network of 116 branches (including the headquarters of the Postal Bank), whilst 37 insurance companies also have offices in the city. JP Morgan Chase, one of the largest financial institutions in the world, has established a branch in Bydgoszcz. Most industrial complexes are scattered throughout the city, however, the 'Zachem' chemical works deserves attention, covering tens of square kilometers in the south-east of the city, the remnants of the German explosives factory built in World War II occupy an area which has its own rail lines, internal communication, housing, and large forested area.
Since 2000, Bydgoszcz has been annually subjected to international 'verification' ratings. In February 2008 the Agency 'Fitch Ratings', recategorised the city, increasing its rating from BBB-(stable forecast) to BBB (stable estimate).
In 2004, Bydgoszcz launched an Industrial and Technology Park of 283 hectares, an attractive place for doing business as companies which relocate there receive tax breaks, 24 hour security, access to large plots of land and to the media, the railway line Chorzów Batory – Tczew (passenger, coal), the DK5 and DK10 national roads, and future freeways S10 and S5. Bydgoszcz airport is also close by.
The city has, in recent years, become one of Poland's most important economic centres. This is especially true for the role the city plays in the economy of the Kuyavian-Pomeranian Voivodeship, of which it is, along with Toruń, capital.
Read more about this topic: Bydgoszcz
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“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)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)