Economy
Although Palmerston North has 1.9% of the population of New Zealand, 2.5% of the nation's employees work in the city. The important sectors are tertiary education, research and central government (Defence force).
The largest industry in terms of employees is the health and community services industry, which employs 14.9% of employees in the city.
The retail trade industry employs 13.3% of employees in the city. This reflects the city's role as an important retail service centre in the Lower North Island.
The tertiary education sector provides NZ$500 million a year to the local economy and the education sector accounted for 11.3% of the Palmerston North workforce in February 2006.
Palmerston North has economic strengths in research, especially in the bio-industry, defence, distribution and smart business sectors. The city is home to more than 70 major educational and research institutions, including New Zealand's fastest expanding university, Massey University; the Massey University Sport and Recreation Institute at the Massey University campus, Turitea; Universal College of Learning (UCOL) and Linton Army Camp.
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Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“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)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)