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 basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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