Economy
Failsworth is a centre for the production of hats, manufacture began as a cottage industry before the firm of Failsworth Hats was set up in 1903 to manufacture silk hats. For a time the company operated from a factory near the former Failsworth Council offices and remains in the area to this day. Today, Failsworth's main areas of economic activities are in electrical goods manufacture (such as Russell Hobbs) by Salton Europe (formerly Pifco Ltd, pre-2001), and plastic producers and distributors Hubron Limited. Many Failsworth residents work in Manchester, with many commuters choosing to live in the area because of its transport links which include the train service from Failsworth railway station on the Oldham Loop Line.
In the July 2007, the Tesco supermarket chain opened one of their 24-hour Extra branches on the banks of the newly regenerated wharf. The move has not been welcomed by small shop owners who have claimed that they have lost customers to the new store and may be forced to close. It was intended that Tesco's arrival would be a catalyst to attract other stores, bars and restaurants to Failsworth. The only other large store in the Failsworth boundary is a branch of Morrisons which is situated in the converted Marlborough Mill.
Housing Units Ltd is located on Wickentree Lane and is a large home furnishing store which has been in operation since 1947.
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Famous quotes containing the word economy:
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—Doris Lessing (b. 1919)
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—Calvin Coolidge (1872–1933)
“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)