Economy
Numerous guides such as the 2004 book Cities Ranked and Rated: More than 400 Metropolitan Areas Evaluated in the U.S. and Canada have mentioned Gainesville's low cost of living. The restaurants near the University of Florida also tend to be inexpensive. The property taxes are high to offset the cost of the university, as the university's land is tax-exempt. However, the median home cost remains slightly below the national average, and Gainesville residents, like all Floridians, do not pay state income taxes.
This city's job market scored only 6 points out of a possible 100 in the Cities Ranked and Rated guide, as the downside to the low cost of living is an extremely weak local job market that is oversupplied with college-educated residents. The median income in Gainesville is slightly below the U.S. average.
The city of Gainesville promotes solar power by allowing small businesses and homeowners to supply electricity into the municipal power grid under favorable tariff. Presently purchasing rate is set at $0.32 per kilowatt-hour.
The sports drink Gatorade was invented in Gainesville in the 1960s as a means of refreshing the UF football team. UF still receives a share of the profits from the beverage. However, Gatorade's headquarters are now located in Chicago, Illinois.
Read more about this topic: Gainesville, Florida
Famous quotes containing the word economy:
“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)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“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)