Greenville's economy was formerly based largely on textile manufacturing,
and the city was long known as "The Textile Capital of the World." In
the last few decades, favorable wages and tax benefits have lured foreign
companies to invest heavily in the area. The city is the North American
headquarters for Hubbell Lighting, PerceptIS, and Michelin, and has offices for
BMW. In 2003, the International Center for Automotive Research was created,
establishing CUICAR as the new model for automotive research. The Center for
Emerging Technologies in mobility and energy was opened in 2011, hosting a
number of companies in
