Economy
A major employer in the town is a bearings factory (part of the NSK group) with around 200 employees. Another notable employer in the town is Laurens Patisseries, part of the food group Bakkavör since May 2006 when bought for £130m, claims to be the largest cream cake manufacturer in Europe employing over 1000 people. It supplies desserts to Tesco. Dessert Company on Brunel Drive closed in March 2000 with the loss of 700 jobs when Laurens received the Tesco order which they had supplied. In 2007, Currys opened their £30m national distribution centre next to the A17 near the A46 roundabout, and Dixons moved its national distribution centre there in 2005, with over 1,400 staff employed at the site during peak times. PJ Smoothies used to be a main manufacturer in the town until 2007, when production was moved by new owners Pepsico to Boxford in Suffolk to be made by Copella. Ingersoll Dresser have a pumps factory. Project Telecom on Brunel Drive was bought by Vodafone in 2003 for a reported £163m. Since 1985 Newark has been host to the biggest antiques fair in Europe, the Newark International Antiques & Collectors Fair, held bi-monthly at Newark Showground. Although much of the pine furniture making has ceased in the last 10 years Newark is still known for its antiques shops and centres.
Read more about this topic: Newark-on-Trent
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 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)
“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)