Liege - Economy

Economy

Liège is the most important city of the Wallon region from the economic perspective. In the past, Liège was one of the most important industral centres in Europe, specially in steel-making. Starting in 1817, John Cockerill extensively developed the iron and steel industry. The industrial complex of Seraing was the largest in the world. It once boasted numerous blast furnaces and mills. Liège was also an important centre for gunsmithing since the Middle ages and the arms industry is still strong with the headquarters of FN Herstal. Although from 1960 on second sector is going down and now it's a mere shadow of its former self, steel production and the manufacture of steel goods remain important. However, today Liège is known as the Palo Alto of Europe, because it is the greatest concentration of digital, technological and Internet-oriented services industries.

The economy of the region is now diversified, the most important centres are: Mechanical industries (Aircraft engine and Spacecraft propulsion), space technology, information technology, biotechnology and also production of water, beer or chocolate. Liège has an important group of headquarters dedicated to high-technology, such as Techspace Aero, which manufactures pieces for the Airbus A380 or the rocket Ariane 5. Standing out others such as Amós which manufactures optical components for telescopes; and Drytec, fabric of compressed air dryers. Liège also has many other electronic companies such as SAP, EVS, Gillam, AnB, Balteau, IP Trade o Dinh Telecom. Other prominent business are the global leader in light armament FN Herstal, the beer company Jupiler, the chocolat company Galler, or water and soda business Spa and Chaudfontaine. A science park south east of the city, near the University of Liège campus, houses spin-offs and high technology businesses.