Economy
The northern portion of Northwest Indiana is noted for its heavy industry. Gary, Portage, Burns Harbor and East Chicago are home to major steel mills, including the largest North American facilities for both U.S. Steel (Gary Works) and ArcelorMittal (Indiana Harbor). Whiting and Hammond are home to the largest oil refinery in the Midwestern U.S., operated by BP. Other industrial outputs include fabricated metals, transportation equipment, and food products.
Since the 1990s, casino gambling has become a significant component of Northwest Indiana's economy. Four casino boats with approximately 207,000 square feet (19,200 m2) of aggregate gaming space are located along Lake Michigan in Lake County. An additional 65,000 square feet (6,000 m2) of gaming space is located in Michigan City.
Indiana Governor Mitch Daniels and the Indiana State Legislature formed the entity known as the Northwest Indiana Regional Development Authority (RDA) in 2006. The RDA, a special-purpose district, is vested with both legal authority and tax dollars to invest in transportation and economic development throughout the region.
A number of Northwest Indiana's suburban towns and cities serve as bedroom communities for Chicago.
Read more about this topic: Northwest Indiana
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)
“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)