Economy
The majority of business and commerce in the Upstate takes place in Greenville County. Greenville has the largest concentration of businesses and financial institutions in its downtown area. In fact, the Greenville-Spartanburg-Anderson MSA was ranked seventh in the nation by site consultants considering the top markets for economic development. Many financial institutions have regional offices located in downtown Greenville. These include Wachovia and Bank of America. Other major industries of commerce in the Upstate include the auto industry which is concentrated mainly along the corridor between Greenville and Spartanburg around the BMW manufacturing facility in Greer. The other major industry in the Upstate is the healthcare and pharmaceuticals. Greenville Hospital System and Bon Secours St. Francis Health System are the area's largest in the healthcare sector, while the pharmaceutical corporation of Bausch & Lomb have set up regional operations alongside smaller recently developed local companies like IRIX Manufacturing, Incorporated and Pharmaceutical Associates. The Upstate is also home to a large amount of private sector and university-based research including R&D facilities for Michelin, Fuji and General Electric and research centers to support the automotive, life sciences, plastics and photonics industries. Clemson University, BMW, IBM, Microsoft, and Michelin have combined their resources to create International Center for Automotive Research (ICAR), a research park that specializes in the development of automotive technology.
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Famous quotes containing the word economy:
“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)