In 1952 a port was established, and its surrounding territory was urbanized and converted into a city of Illichivsk. The city was designed to become a new home for the Black Sea Shipping Company (then the largest passenger and commercial vessel operator in the world). Originally a builder's trailer village, Chornomorsk has expanded to become Ukraine's most prosperous town by income per capita. Residents are mostly employed by the port (one of the largest ports of Europe) and the maritime industry. Residents of Odessa have recently begun relocating to lower-cost but higher-income Chornomorsk.