Waltham played a crucial role in the American Industrial Revolution. Established in 1813 by Francis Cabot Lowell and his fellow entrepreneurs (known as the Boston Associates), the Boston Manufacturing Company transformed the country’s textile industry. The integrated spinning and weaving factory built in Waltham was the first of its kind in the world. By introducing significant technical and organizational improvements (including a power loom, strict supervision and less …show more content…
harsh conditions of labor), Lowell managed to create a revolutionary, well-controlled system of production that would become known as the Waltham-Lowell system. Succeeding beyond expectations, the Waltham-Lowell system enabled the Boston Associates to control the fifth of America’s cotton production by 1850.
Waltham is best known for its watch industry and is commonly referred to as “Watch City.” In 1854, the Waltham Watch Company opened its first factory, developing innovative machinery that significantly raised the precision of the production process, leading to a dramatic increase in productivity.
Soon it became internationally famous as the first company that was able to mass produce an entire watch under one roof. This also led to cheaper production, making watches affordable for a greater number of people. Before it was closed in 1957, the company produced over 35 million watches, clocks and instruments. In 1989, the Waltham Watch Factory campus was listed on the State and National Register of Historic Places. Today, the complex is being restored and adapted to serve various creative purposes, including a Waltham Watch Company history
exhibit.
Waltham prides itself on bearing the title of the safest US city for families with young children. Interesting enough, it has also been voted as the most challenging city to navigate. Home to institutions such as Brandeis and Bentley University, Waltham has earned its reputation as an important centre for research and higher education. Within a ten-mile radius, all the prestigious colleges and universities of Cambridge and Boston are also easy to reach. The unemployment rate in Waltham is 4.4%. The income per capita is $35,161, and the median household income is $72,332. The defence contractor Raytheon, broker-dealer Commonwealth Financial Network, technology companies Care.com and StudentUniverse and the marketing firm Constant Contact are some of the most prominent companies based in Waltham.