Newcastle Upon Tyne - Economy

Economy

See also: List of companies based in Newcastle upon Tyne

Newcastle played a major role during the 19th-century Industrial Revolution, and was a leading centre for coal mining and manufacturing. Heavy industries in Newcastle declined in the second half of the 20th century; office, service and retail employment are now the city's staples. The city is also today recognised for its commitment to environmental issues, with a programme planned for Newcastle to become "the first Carbon Neutral town".

Newcastle is the commercial, educational and, in partnership with nearby Gateshead, the cultural focus for North East England. As part of Tyneside, Newcastle's economy contributes around £13 billion to the UK GVA. The Central Business District is in the centre of the city, bounded by Haymarket, Central Station and the Quayside areas.

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Famous quotes containing the word economy:

    “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)

    “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)

    “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)