Valparaíso, city in central Chile, capital of Valparaíso Region, on a wide bay of the Pacific Ocean. It is a major seaport and manufacturing center and is one of Chile's largest cities; another large city, nearby Viña del Mar, is contiguous with Valparaíso and constitutes a metropolitan region. Manufactures of the area include processed food, textiles, chemicals, and leather and metal products. Economic activity is concentrated on the narrow level area near the bay, and residential districts are located on the steep slopes of the hills that enclose the city. In Valparaíso are a naval academy, the Catholic University of Valparaíso (1928), and the Federico Santa María Technical University (1926). Valparaíso was founded by the Spanish in 1536. It grew after Chile gained independence in 1818 and was an important port of call for ships rounding Cape Horn before the opening (1914) of the Panama Canal. The city was badly damaged by earthquakes in 1906-1907 and 1971. Population (1998) 293,800.
