Economy
The strength of Perth's economy lies in its diversity, with a balance of large companies, the public sector, a broad range of small and medium sized enterprises and many self-employed business people. The development in renewable energy, insurance, manufacturing, leisure, health and transport is stimulating employment. The largest employer in the city is Perth and Kinross Council which employ 6,000 people. Other main employers include NHS Tayside, Scottish and Southern Energy, and Perth College UHI (part of the University of the Highlands and Islands). The leading international transportation company, Stagecoach Group also has its global headquarters in the city.
Perth was formerly headquarters of insurance firm General Accident. However, when General Accident merged withNorwich Union to form Aviva. Since then, the office has been primarily used as a call centre.
Perth's city centre is situated to the west of the banks of the River Tay. The pedestrianised portion of the High Street, which runs from the junction of St. John Street to Scott Street, is the main focus of the shopping area. The centre has a variety of major and independent retailers. The major retailers are largely based on the High Street, St John Street and the St John's Centre. Independent retailers can be found on George Street, the Old High Street and Canal Street. A £3 million pound project for the High Street and King Edward Street provided new seating, lighting and the laying of natural stone in 2010. A retail park, constructed in 1988, exists to the north-west of the city centre around St Catherine's Road, and provides eight purpose built units.
Before the credit crisis, Perth's economy was growing at 2.6% per year, considerably above the Scottish average of 2.1%. Since the credit crisis, growth has slowed considerably though still remained above the Scottish average.
The Perth economy is ranked in the Top 10 enterprising demographics in Scotland, with an average of 42.6 registered enterprises per 10,000 residents putting it well above the Scottish average of 30.1
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“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)