Economy
Local industry in both Cowes and East Cowes has always centred on the building and design of marine craft and materials associated with boat-making, including the early flying boats, and sail-making. It is the place where the first hovercraft was tested.
Major present-day employers include BAE Systems Integrated System Technologies (Insyte), which occupies the site of the old Somerton Aerodrome at Newport Road, Cowes; and GKN Aerospace in East Cowes.
The population of the town increases dramatically during Cowes Week, and becomes the busiest time of the year for local businesses. The town has recently been reported to be doing well, despite the economic downturn.
Read more about this topic: Cowes
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“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)