Economy
Valenciennes is historically renowned for its lace. Until the 1970s, the main industries were steel and textiles. Since their decline, reconversion attempts focus mainly on automobile production. In 2001, Toyota built its Western European assembly line for the Toyota Yaris in Valenciennes. Because of this and other changes, the average unemployment in the region is now lower than the national average.
On 15 July 2004 the Administrative Board of the European Union's Railway Agency held its first meeting in Phénix, with representatives of the 25 Member States and François Lamoureux, those days Director General for Energy and Transportation at the European Commission. Valenciennes was picked as the European Railway Agency headquarters in December 2003. International conferences are held in Lille.
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“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.”
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