Economy
Historically, the economy of the Panhandle depended mainly on farming, forestry and lumbering, paper mills, import/export shipping at Pensacola and to a lesser extent at Panama City, shipbuilding, and commercial fishing. After World War II, the economy was boosted by the numerous military bases established in the region, as well as the growth of tourism and the hospitality industry.
Major employers in the second half of the twentieth century included Monsanto and Westinghouse plants at Pensacola, the St. Joe Paper Company in Port St. Joe, and Gulf Power, a major electric utility company.
Unlike central and southern Florida, the Panhandle has never been a producer of citrus crops because the area is subject to regular frosts and freezes in wintertime, which destroy citrus fruits.
Read more about this topic: Florida Panhandle
Famous quotes containing the word economy:
“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)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)