Economy
Today, the economy of Falkirk is focused on retail and services, in contrast to the heavy industries and manufacturing sectors which contributed to the growth of the town over the last 300 years. Falkirk is a large retail centre catering to the town itself and a wide surrounding area, stretching from Cumbernauld in the west to Bo'ness in the east. The flagship retailer Marks and Spencer opened a store in Falkirk in 1936. The High Street was pedestrianised in the late 1980s and the Howgate Shopping Centre opened in 1989. A number of supermarkets including Tesco, Asda, Morrisons and Scottish Co-op have developed on peripheral sites surrounding the town centre in recent years.
The public sector and public services also have a foothold in the Falkirk area. Falkirk Council is one of the largest employers in this sphere, with a workforce of over 7,000, many based at the council headquarters in the town centre. One of the principal offices of the UK Child Support Agency, covering Scotland and the north east of England, is located in the Callendar Business Park on the outskirts of Falkirk. Similarly the National Health Service (NHS) and Department for Work and Pensions have a presence in the town and employ local residents.
Many Falkirk residents are also employed within the petrochemicals sector based in neighbouring Grangemouth where there is an agglomeration of such industries underpinned by the Ineos (formerly BP) oil refinery located there. Alexander Dennis, one of the world's largest bus manufacturers, is headquartered in Falkirk with the operations plant located nearby.
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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)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)