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:
“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)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“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)