Economy
Though celebrities still retreat to Palm Springs, many today establish residences in other areas of the Coachella Valley. The city's economy now relies on tourism, and local government is largely supported by related retail sales taxes and the TOT (transient occupancy tax). It is a city of numerous festivals, conventions, and international events including the Palm Springs International Film Festival.
The world's largest rotating aerial tramcars (cable cars) can be found at the Palm Springs Aerial Tramway. These cars, built by Von Roll Tramways, ascend from Chino Canyon two-and-a-half miles up a steep incline to the station at 8,516 feet (2,596 m). The San Jacinto Wilderness is accessible from the top of the tram and there is a restaurant with notable views.
The Palm Springs Convention Center underwent a multi-million-dollar expansion and remodeling under Mayor Will Kleindienst. The City Council Sub-Committee of Mayor Kleindienst and City Council Member Chris Mills selected Fentress Bradburn Architects from Denver, Colorado for the redesign.
Numerous hotels, restaurants and attractions cater to tourists, while shoppers can find a variety of high-end boutiques in downtown and uptown Palm Springs. The city is home to 20 clothing-optional resorts catering to gay men.
Read more about this topic: Palm Springs, California
Famous quotes containing the word economy:
“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)
“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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)