Economy
The strength of Perth's economy lies in its diversity, with a balance of large companies, the public sector, a broad range of small and medium sized enterprises and many self-employed business people. The development in renewable energy, insurance, manufacturing, leisure, health and transport is stimulating employment. The largest employer in the city is Perth and Kinross Council which employ 6,000 people. Other main employers include NHS Tayside, Scottish and Southern Energy, and Perth College UHI (part of the University of the Highlands and Islands). The leading international transportation company, Stagecoach Group also has its global headquarters in the city.
Perth was formerly headquarters of insurance firm General Accident. However, when General Accident merged withNorwich Union to form Aviva. Since then, the office has been primarily used as a call centre.
Perth's city centre is situated to the west of the banks of the River Tay. The pedestrianised portion of the High Street, which runs from the junction of St. John Street to Scott Street, is the main focus of the shopping area. The centre has a variety of major and independent retailers. The major retailers are largely based on the High Street, St John Street and the St John's Centre. Independent retailers can be found on George Street, the Old High Street and Canal Street. A £3 million pound project for the High Street and King Edward Street provided new seating, lighting and the laying of natural stone in 2010. A retail park, constructed in 1988, exists to the north-west of the city centre around St Catherine's Road, and provides eight purpose built units.
Before the credit crisis, Perth's economy was growing at 2.6% per year, considerably above the Scottish average of 2.1%. Since the credit crisis, growth has slowed considerably though still remained above the Scottish average.
The Perth economy is ranked in the Top 10 enterprising demographics in Scotland, with an average of 42.6 registered enterprises per 10,000 residents putting it well above the Scottish average of 30.1
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Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
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—Ralph Waldo Emerson (1803–1882)
“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)