In contrast to the decline of mountain-based industries in the middle of the Showa period, agriculture and coastal industries grew consistently through the economic boom period before experiencing some decline after the beginning of the recession in 1991. In 1964, Saijō was designated the "New Tōyo Industrial Development City", accompanied by increased coastal reclamation projects and the development of heavy industry. This allowed the Saijō port industrial zone to compete with the already developed Tōyo City and Niihama City coastal chemical industries. Asahi Breweries opened a manufacturing plant in the main port area in 1996. The Imabari Shipbuilding Company maintains a shipyard in Saijo. The company's 800-t cranes are among the largest of their kind in the world and are a major visual landmark.