Economy
Local industry in both Cowes and East Cowes has always centred on the building and design of marine craft and materials associated with boat-making, including the early flying boats, and sail-making. It is the place where the first hovercraft was tested.
Major present-day employers include BAE Systems Integrated System Technologies (Insyte), which occupies the site of the old Somerton Aerodrome at Newport Road, Cowes; and GKN Aerospace in East Cowes.
The population of the town increases dramatically during Cowes Week, and becomes the busiest time of the year for local businesses. The town has recently been reported to be doing well, despite the economic downturn.
Read more about this topic: Cowes
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)
“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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)