Economy
Many international technology companies have research and development facilities in this region including the likes of Intel, IBM, Google, Hewlett-Packard, Philips, Cisco Systems, Oracle Corporation, SAP, BMC Software, Microsoft, Motorola and CA. Many Israeli high-tech companies are based in the region, including Zoran Corporation, CEVA, Inc., Aladdin Knowledge Systems, NICE Systems, Horizon Semiconductors, RAD Data Communications, Radware, Tadiran Telecom, Radvision, Check Point Software Technologies, Amdocs, Babylon Ltd., Elbit, Israel Aerospace Industries and the solar thermal equipment designer and manufacturer Solel, with most of them being listed on the NASDAQ, which even has an Israel Index. Because of this, Israel is often referred to as the Silicon Wadi and is known to be second only to Silicon Valley in the level of its innovation and ingenuity. Intel developed its new dual-core Core Duo processor at its Israel Development Center located at the Merkaz Ta'asiya ve'Meida (Matam - Scientific Industries Center) in the city of Haifa. In 2006, more than 3,000 start-ups were created in Israel, a number that is only second to the US. Newsweek Magazine has also named Tel Aviv as one of the world's top ten "Hot High-Tech Cities". In 1998, Tel Aviv was named by Newsweek as one of the ten technologically most influential cities in the world. In 2012, the city was also named one of the best places for high-tech startup companies, placed only second behind it's California counterpart.
Read more about this topic: Silicon Wadi
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“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)