Economy
The capital Zug is home to a large number of companies which only have their headquarters in the city. This is the case because Zug has one of the lowest taxes in Switzerland. Trade in particular is of great significance. There are a large number of small and middle sized businesses in all areas of the economy. There are over 24,300 registered companies and over 70,000 jobs in the canton, with 12,900 of the registered companies in the city of Zug.
In the higher regions of the canton the population is mainly engaged in pastoral pursuits and cattle-breeding. There are 61 alps (high pastures) in the canton (1911). At Cham is a well-known factory of condensed milk, now united with that of Nestlé of Vevey. The Anglo-Swiss Condensed Milk Co. was founded in Cham in 1866. At Baar there are factories. Round the town of Zug there are great numbers of fruit trees, and Kirsch (a high grade clear cherry schnapps) and cider are largely manufactured. Apiculture flourishes in the canton. A number of factories have sprung up in the new quarter of the town. The formerly important silk-weaving industry has now disappeared. Today's main industries are the manufacture of metal goods, textiles, machinery, electronics and alcoholic beverages (Kirsch).
Read more about this topic: Canton Of Zug
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)