Economy
The city's economy, originally chiefly industrial with shoemaking a large sector, has changed throughout the 1980s and 90s to a service-based economy. Aviva (formerly known as Norwich Union) still dominates these, but has been joined by other insurance and financial services companies.
New developments on the former Boulton and Paul site include the Riverside entertainment complex with nightclubs and other venues featuring the usual national leisure brands. Nearby, the football stadium is being upgraded with more residential property development alongside the river Wensum.
Archant, formerly known as Eastern Counties Newspapers (ECN) is a national publishing group that has grown out of the city's local newspaper, the Norwich Evening News and the regional Eastern Daily Press (EDP).
Norwich has long been associated with the manufacture of mustard. The world famous Colman's brand, with its yellow packaging, was founded in 1814 and continues to operate from its factory at Carrow. Colman's is now being exported world wide by its parent company Unilever (Unilever UK Export) putting Norwich on the map of British heritage brands. The Colman's Mustard Shop, which sells Colman's products and related gifts, is located in the Royal Arcade in the centre of Norwich.
To the south-west of the city is the Norwich Research Park, which as of 2012 is set to undergo a period of investment and expansion. The NRP comprises a community of research organisations with world-leading science credentials, including the Institute of Food Research and the John Innes Centre, as well as over thirty science and technology based businesses, the University of East Anglia and the Norfolk and Norwich University Hospital.
Norwich's night-time economy of bars and nightclubs is mainly located in Tombland, Prince of Wales Road and the Riverside area adjacent to Norwich railway station.
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Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“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)
“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)