Exeter - Economy

Economy

The city provides strong industries and services to a sizeable area. The Met Office, the main weather forecasting organisation for the United Kingdom and one of the most significant in the world, relocated from Bracknell in Berkshire to Exeter in early 2004. It is one of the three largest employers in the area (together with the University of Exeter and Devon County Council).

The city centre provides substantial shopping facilities. The High Street is mainly devoted to branches of national chains: A NEF survey in 2005 rated Exeter as the worst example of a clone town in the UK, with only a single independent store in the city's High Street, and less diversity (in terms of different categories of shop) than any other town surveyed. Three significant shopping areas that connect to the High Street provide a somewhat more varied menu. Princesshay, a post-war retail area connecting to the south side of the High Street was home to a number of independent stores prior to redevelopment in 2007, but is now also largely occupied by national chains. It is an innovative, varied development, and it is still intended that a number of the new units will be let to local independent stores. On the other side of the High Street, the partly undercover Guildhall Shopping Centre houses a mixture of national and more regional shops, and connects to the wholly enclosed Harlequins Centre where smaller businesses predominate. Smaller streets off the High Street such as Gandy Street also offer a range of independent shops.

On 26 June 2004, Exeter was granted Fairtrade City status.

Although a popular tourist destination, the city is not dominated by tourism, with only 7% of employment dependent on tourism compared with 13% for Devon as a whole (2005 figures).

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Famous quotes containing the word economy:

    Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.
    Friedrich Nietzsche (1844–1900)

    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)

    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)