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.
Read more about this topic: Clermont-Ferrand
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)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)