Economy
King's Lynn has always been a centre for the fishing and seafood industry (especially inshore prawns, shrimps and cockles). There have also been glass-making and small-scale engineering works (many fairground and steam engines were built here), and today, it is still the location for much agricultural-related industry including food processing. There are a number of chemical factories and the town retains a role as an import centre. It is a regional centre for what is still a sparsely populated part of England.
King's Lynn was the fastest growing port in Great Britain in 2008. The figures from the Department for Transport show that trade in the King's Lynn increased by 33 per cent.
In 2008, the German Palm Group began to erect one of the world's largest paper machines. The machine was constructed by Voith Paper. With a web speed of up to 2000 m/min and a web width of 10.63m, it can produce 400.000 per year of newsprint paper. The production is based on 100% recycled paper. The start-up was on 21 August 2009.
The Port of King's Lynn has facilities for dry bulk cargo such as cereals and liquid bulk products such as petroleum products for Pace Petroleum. It also handles timber imported from Scandinavia and the Baltics, and has large handling sheds for steel imports.
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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)
“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)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)