![]() ![]() As early as 1979, the Hanes Corporation, formed in 1965 by the merger of Hanes Hosiery and Hanes Knitting, was bought out by the Sara Lee Corporation. The 1980s saw many corporations that had formerly dominated the economy of Winston-Salem disappear or slip out of local control. By the early 1970s it had prompted a host of related businesses to locate in and around Winston-Salem, and its nearly 7,000 employees made it the city's second largest employer after R. ![]() Of the many businesses that came to Winston-Salem beginning in the mid-twentieth century, by far the most important was the Western Electric Company, which arrived in 1946 and was soon producing a wide range of military and civilian electronics and communications equipment. The philanthropies of the leading industrial families-the Reynoldses, the Grays, and the Haneses-ornamented the community with new schools, hospitals, churches, and parks. Reynolds Tobacco Company introduced Camel cigarettes in 1913, and Reynolds soon commanded more than half of the burgeoning national market for cigarettes. Hanes Knitting Company to produce men's underwear. In 19, two brothers who had made fortunes from the sale of their tobacco interests to the American Tobacco trust reinvested their proceeds in textiles John Wesley Hanes organized the antecedent of Hanes Hosiery Mills, and Pleasant Henderson Hanes founded P. Wachovia National Bank opened in 1879, and in the 1880s new railroad connections were built to the north and west. From consolidation until the Great Depression, Winston-Salem was the largest and most industrialized city in the state, with an economy dominated by locally developed manufacturing concerns in tobacco and textiles.Ī wide array of Winston-Salem's financial, industrial, commercial, and civic enterprises grew out of or benefited from the wealth created by tobacco. Known for many years as the Twin City, it was officially formed in 1913 when Salem, founded in 1766 by Moravian settlers, and Winston, established in 1849 as the seat of newly created Forsyth County, merged into a single municipality. Winston-Salem is heir to a rich heritage produced by the mingling of two distinct historical streams. Reynolds Tobacco Company Salem Salem Academy and Salem College Wachovia Corporation Wake Forest University Winston-Salem State University, Winston-Salem ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |