Crotone's location between the ports of Taranto and Messina, as well as its proximity to a source of hydroelectric power, favored industrial development during the period between the two World Wars. In the 1930s its population doubled. However, after the two main employers, Pertusola Sud and Montedison, collapsed by the late 1980s, Crotone was in economic crisis, with many residents losing their jobs and leaving to find work elsewhere. In 1996, the river Esaro flooded the city, which dealt a further blow to the city's morale. Since that low point, the city has undergone urban renewal and risen in quality-of-life rankings.