Economy
Food production and processing as well as engineering are major employers in the area, as are the many research facilities of major computer software and pharmaceutical companies.
The city's industry for a long time was linked to the French tyre manufacturer Michelin, which created the radial tyre and grew up from Clermont-Ferrand to become a worldwide leader in its industry. For most of the 20th century, it ran extensive factory works throughout the city, employing up to 30,000 workers at a time. While the company has maintained its headquarters in the city, most of the manufacturing is now done in foreign countries. This downsizing took place gradually, allowing the city to court new investment in other industries, avoiding the fate of many post-industrial cities and keeping it a very wealthy and prosperous area home of many high-income executives.
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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)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)