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Article: Norwalk's diverse economy ready for rebound. (Feature Section).(economic diversification plan)
- Article from:
- Fairfield County Business Journal
- Article date:
- June 9, 2003
- Author:
CopyrightCOPYRIGHT 2003 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Norwalk's economy is poised for growth as the national economy recovers, built on an economic diversification plan put into place more than a decade ago that has been keeping the city's economy in balance - even during the past recession.
In the early 1990s,. the city government devised a development strategy that encouraged the city's chief companies and economic sectors to branch out, while discouraging dependence on a single sector. Weak sectors such as manufacturing would be strengthened to create economic balance. The plan, building on the growing financial sector and tourist industry, resulted in the several companies moving into the city, including GE ...