Economy
Education and research are important to the city, through the University of Waikato and the Waikato Institute of Technology (Wintec). Research at the Ruakura research centres have been responsible for much of New Zealand's innovation in agriculture. Hamilton's main revenue source is the dairy industry, due to its location in the centre of New Zealand's largest dairying area – the Waikato region.
Hamilton annually hosts the National Agricultural Fieldays at Mystery Creek, the southern hemisphere's biggest agricultural trade exhibition. Mystery Creek is the country's largest event centre and hosts other events of national importance, such as the National Car Show and the National Boat Show.
Manufacturing and retail are also important to the local economy, as is the provision of health services through the Waikato Hospital. The city is home to New Zealand's largest aircraft manufacturer, Pacific Aerospace, which manufactured its 1,000th aircraft in August 2009, and Micro Aviation NZ which manufactures and exports high-quality microlight aircraft. It also has its largest concentration of trailer-boat manufacturers such as Buccaneer.
Recent years have seen the firm establishment of the New Zealand base of the British flight training organisation CTC Aviation. CTC trains over one hundred airline pilots a year at its "Crew Training Centre" at Hamilton Airport.
Tainui Group Holdings Ltd, the commercial arm of the Waikato tribe, is one of Hamilton's largest property developers. The Waikato tribe is one of the city's largest landowners. Tainui owns land at The Base, Centre Place, The Warehouse Central, University of Waikato, Wintec, the Courthouse, Fairfield College, and the Ruakura AgResearch centre. The Waikato tribe is a major shareholder of the Novotel Tainui and the Hotel Ibis. It has developed the large retail centre The Base in the old Te Rapa airforce base site which was returned to Tainui, following confiscation in the 1860s, as part of a 1995 Treaty of Waitangi settlement. In mid-2010, The Base was further expanded with Te Awa Mall complex stage 1. Many large retailers such as Farmers have located at Te Awa. In 2011 a further stage was opened, with movie theatres, restaurants, shops and an underground carpark.
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Famous quotes containing the word economy:
“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)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)