Economy
Windsor's economy is primarily based on education, manufacturing, tourism, and government services.
Both the University of Windsor and St. Clair College are significant local employers and have enjoyed substantial growth and expansion in recent years. The recent addition of a full-program satellite medical school of the University of Western Ontario, which opened in 2008 at the University of Windsor is further enhancing the region's economy and the status of the university. The university is currently constructing a $112 million facility for their Engineering Faculty.
Windsor has a well-established tourism industry. Caesars Windsor (formerly Casino Windsor), one of the largest casinos in Canada, ranks as one of the largest local employers. It has been a major draw for U.S. visitors since opening in 1994. Further, the 1,150-kilometre (710 mi) Quebec City – Windsor Corridor contains 18 million people, with 51% of the Canadian population and three out of the four largest metropolitan areas, according to the 2001 Census.
The city also boasts an extensive riverfront parks system and fine restaurants, such as those on Erie Street in Windsor's Little Italy called "Via Italia", another popular tourist destination. The Lake Erie North Shore Wine Region in Essex County has enhanced tourism in the region.
Windsor is the headquarters of Hiram Walker & Sons Limited, now owned by Pernod Ricard. Its historic distillery was founded by Hiram Walker in 1858 in what was then Walkerville, Ontario.
Windsor is one of Canada's major automobile manufacturing centres. However, plant closures and significant job losses in recent years have impacted Windsor's automotive manufacturing industry. The city is home to the headquarters of Chrysler Canada. Automotive facilities include the Chrysler minivan assembly plant, two Ford Motor Company engine plants, and a number of tool and die and automotive parts manufacturers.
The city's diversifying economy is also represented by companies involved in pharmaceuticals, alternative energy, insurance, internet and software. Windsor is also home to the Windsor Salt Mine and the Great Lakes Regional office of the International Joint Commission.
Windsor was recently listed as the number two large city for economic potential in North-America and number 7 large city of the future in North America according to the FDI North-American cities of the future list. (American Cities of the Future 2011/12)
Read more about this topic: Windsor, Ontario
Famous quotes containing the word economy:
“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)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“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)