Economy
Braunschweig was one of the centres of the industrialization in Northern Germany. During the 19th and early 20th century the canning and railroad industries and the sugar production were of great importance for Braunschweig's economy, but eventually other branches such as the automotive industry became more important, while especially the canning industry began to vaish from the city after the end of World War II. The defunct truck and bus manufacturer Büssing was headquartered in Braunschweig. Current factories in the city include Volkswagen, Siemens, Bombardier Transportation, and Bosch.
The fashion label NewYorker, the publishing house Westermann Verlag, Volkswagen Financial Services and Volkswagen Bank have their headquarters in the city. Also two major optical companies were headquartered in Braunschweig, Voigtländer and Rollei.
Braunschweig is the home of two piano companies, both known worldwide for the high quality of their instruments: Schimmel and Grotrian-Steinweg. Both companies were founded in the 19th century. Additionally Sandberg Guitars is based in Braunschweig.
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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)
“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)