Page "Sydney, Nova Scotia" Paragraph 5

By the early twentieth century Sydney became home to one of the world's largest steel plants, fed by the numerous coal mines in the area under the ownership of the Dominion Coal Company.

Sydney's economy was a significant part of Industrial Cape Breton with its steel plant and harbour and railway connections adjoining the coal mining towns of Glace Bay, New Waterford, Sydney Mines and Reserve Mines.

The economic boom brought about by industrialization saw the community incorporate in 1903.

By the late 1960s the coal and steel industries had fallen on hard times and were taken over by the federal and provincial governments and both industries were permanently closed by the end of 2001.

Forced to diversify its economy, Sydney has examined a variety of economic development possibilities including tourism and culture, light manufacturing and information technology.