Economy
Harlow was originally expected to provide a majority of employment opportunities in manufacturing, with two major developments of The Pinnacles and Templefields providing the biggest employers in the region; as with the rest of the country, this manufacturing base has declined and Harlow has had to adjust.
The original manufacturing took the form of a biscuit factory, on the Pinnacles. Owned and run as a Co-Op, it provided employment to the town for over 50 years, before closing in 2002. It has since been demolished and the site is now small industrial units. At its peak, the factory employed over 500 people. At the time of its closure, the owner was Burton's Foods Ltd. An £8million production line – installed in 1999 – was left to rust in the car park upon the closure of the factory.
Raytheon and GlaxoSmithKline both have large premises within the town. Nortel also had a large site on the eastern edge of the town, acquired when STC was bought in 1991, and it was here that Charles K. Kao developed optical fibre data transmission. Nortel still has a presence, but it is much reduced. One of Europe's leading online golf stores, Onlinegolf, is also based in Harlow.
Unemployment is frequently around 10%, higher than the national average in the UK. Harlow also has a large number of people in social housing, almost 30% of dwellings being housing association and local authority owned, and many more privately rented.
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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)
“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)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)