Economy
The International Nickel Company (now Vale) has long been one of the city's main employers, since the opening of a refinery in 1918. Taking advantage of inexpensive hydroelectricity from generating stations at nearby Niagara Falls, the refinery produced electro-refined nickel for the war effort, and grew to employ over 2,000 workers by the 1950s. Cutbacks in operations and increasing factory automation have reduced the workforce to its present day total of 190.
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Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)