19 Sep '13, 1am

Troubled cities: Gary, Indiana, USA | Propertyguru

Troubled cities: Gary, Indiana, USA Founded in 1906 by the United States Steel Corporation for its new plant, ‘Gary Works', the city - which was named after founding chairman of the corporation, Elbert Henry Gary - became a bustling and important state during the height of steel production. In the 1950s, after the war, almost 200,000 people lived and worked in the city. U.S Steel contributed to a majority of its economy and the giant wheels of the steel mill seemed poised to roll on forever. However, fortunes would not continue to rise for this city. Like Detroit which placed all of its eggs in the automobile industry, Gary owed its entire economy to steel production. When international competitiveness increased in the 1960s, the manufacturing industry in the city began to downsize dramatically. Suddenly, many blue collared workers were forced to look for jobs elsewhere. T...

Full article: http://www.propertyguru.com.sg/lifestyle/article/4/troubl...

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