Economy
Local industry in both Cowes and East Cowes has always centred on the building and design of marine craft and materials associated with boat-making, including the early flying boats, and sail-making. It is the place where the first hovercraft was tested.
Major present-day employers include BAE Systems Integrated System Technologies (Insyte), which occupies the site of the old Somerton Aerodrome at Newport Road, Cowes; and GKN Aerospace in East Cowes.
The population of the town increases dramatically during Cowes Week, and becomes the busiest time of the year for local businesses. The town has recently been reported to be doing well, despite the economic downturn.
Read more about this topic: Cowes
Famous quotes containing the word economy:
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“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)
“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)