Economy
The Narrow Way (Church Street) remains a busy shopping area, and there is a large Tesco supermarket in nearby Morning Lane (Money Lane). This international store group was founded in Hackney, from a market stall in Well Street market in 1919. The Hackney Tesco site is currently subject to planning consultation that will see a multi-storey shopping centre (with parking beneath, and housing above) erected on the site, planned to open in 2011. A former Burberry factory building is also located off Morning Lane, with a 'factory outlet' that is considered to be Hackney's most visited tourist attraction. This site is currently being redeveloped, in two phases, that will see the retention of the showroom, but add housing above.
The primary local employers are the council and the NHS at Homerton University Hospital; there are also two London Transport garages, one at the foot of the Narroway, and another about 1 mile south at Ash Grove. Between Ash Grove and London Fields there is a small industrial estate.
Read more about this topic: Hackney Central
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“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)