The economy of St. Louis is diversified in comparison to most large American cities. While employment in manufacturing, long the dominant economic sector, has declined steadily in recent years, it remains a major economic force, and St. Louis is known for its aircraft manufacturing and automobile assembly. Still, these industries each accounted for less than 2 percent of total employment in the mid-1990s. While manufacturing employment has declined, the service sector has expanded. In the mid-1990s services provided employment for more than one-third of the labor force, up from 20 percent in 1978. Leaders in the sector include educational, health, and business services. Other leading employment sectors include eating and drinking establishments, wholesale trade, construction, transportation services, general retailing, banking and finance, and communications and public utilities.
The retooling of auto assembly plants in the metropolitan area in the early 1990s helped Missouri maintain its position as a leader in automobile assembly. Automobile and aerospace industries account for about 20 percent of the manufacturing jobs. The Ford Motor Company, the General Motors Corporation, and DaimlerChrysler AG all have assembly plants in the area. The McDonnell Douglas Corporation, a major aerospace company, had its headquarters in St. Louis until its merger with The Boeing Corporation in 1997. Boeing plants in the area produce combat aircraft and missiles for the armed forces and aerospace components for the federal government's space program, but reduced federal spending in the defense industries has led to a reduction in the workforce. Other major industries include the production of primary metals, metal products, machinery, electrical and electronic equipment, chemicals, and foods and beverages. Monsanto, one of the nation's largest chemical firms, has its headquarters, major research laboratories, and four plants in the St. Louis area. Both Emerson Electric (electrical and electronic equipment manufacturing) and Graybar Electric (electrical and communications equipment distribution) are headquartered in St. Louis. The Ralston Purina Company has milling and food processing plants in the area as well as its international headquarters. Anheuser Busch, often just referred to as “The Brewery,” is a major employer on the South Side. Printing and publishing are also important manufacturing activities. St. Louis no longer produces many shoes, but it remains the headquarters of several major shoe firms, including the Brown Group. The city is also the site of a Federal Reserve Bank.
Microsoft® Encarta® Online Encyclopedia 2001
http://encarta.msn.com © 1997-2001 Microsoft Corporation. All rights reserved. St. Louis Information info
Find out your Home's Value - Homes for Half Price
|
