Kiryat Gat - Economy

Economy

The Polgat textile factory was the main employer in the town until it closed in the 1990s. In 1999, Intel opened a chip fabrication plant, known as Fab 18, to produce Pentium 4 chips and flash memories. Intel received a grant of $525 million from the Israeli government to build the plant. In February, 2006, the cornerstone was laid for Intel's second Kiryat Gat plant, Fab 28, which is due to begin production in the second half of 2008. Despite this, Kiryat Gat has one of Israel's highest unemployment rates.

According to CBS figures for 2000, there were 15,257 salaried workers and 1,152 self-employed persons in Kiryat Gat. The mean monthly wage for a salaried worker was 4,125 shekels, a real change of +4.9% over the course of 2000. Salaried males had a mean monthly wage of 5,199 shekels (a real change of +7.3%) compared to 2,956 shekels for females (a real change of -1.8%). The mean income for the self-employed was NIS 5,494. A total of 1,336 residents received unemployment benefits and 6,487 received income supplements.

Read more about this topic:  Kiryat Gat

Famous quotes containing the word economy:

    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)

    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)

    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)