Economy
Greenville's economy was formerly based largely on textile manufacturing, and the city was long known as "The Textile Capital of the World." In the last few decades, favorable wages and tax benefits have lured foreign companies to invest heavily in the area. The city is the North American headquarters for Hubbell Lighting, Michelin and BMW. In 2003, the International Center for Automotive Research was created, establishing CUICAR as the new model for automotive research. The Center for Emerging Technologies in mobility and energy was opened in 2011, hosting a number of companies in leading edge R&D and the headquarters for Sage Automotive.
When the former Donaldson Air Force Base closed, the land became the South Carolina Technology and Aviation Center, and became home to a Lockheed Martin Aircraft and Logistics Center, as well as 3M and Honeywell.
Caterpillar Inc. has a diesel engine manufacturing plant and engineering operations here. Also, General Electric company has a gas turbine and wind energy manufacturing operation here. O'Neal, Inc. a project planning, design, and construction firm, has its headquarters in Greenville.
The Thomas Creek Brewery was founded on Piedmont Hwy in 1998.
Read more about this topic: Greenville, South Carolina
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—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)
“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)