Economy
Eagle Electric, now known as Cooper Wiring Devices, was one of the last major factories in the area. They have moved production to the People's Republic of China, and Plant #1, which was the largest of their factories and housed their corporate offices, is being converted to residential luxury lofts.
Long Island City is currently home to the largest fortune cookie factory in the United States, owned by Wonton Foods and producing four million fortune cookies a day. Lucky numbers included on fortunes in the company's cookies led to 110 people across the United States winning $100,000 each in a May 2005 drawing for Powerball.
Online grocery company FreshDirect, serves the Greater New York area via deliveries from a warehouse and administrative offices on Borden Avenue in LIC. A customer can also order online and come to the warehouse for pickup.
The city has been the home since 1999 to the Brooks Brothers tie manufacturing factory, which employs 122 people and produces more than 1.5 million ties per year.
Long Island City is the new home of independent film studio, Troma.
To accommodate new families, Long Island City Kids Enrichment Center opened its doors in December 2008.
On March 22, 2010, JetBlue Airways announced it was moving its headquarters from Forest Hills to Long Island City, also incorporating the jobs from its Darien, Connecticut, office. The airline, which operates its largest hub at JFK Airport also operates from LaGuardia Airport, and will make The Brewster Building in Queens Plaza its home. The airline plans to move around mid-2012.
Read more about this topic: Long Island City
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—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)
“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)