Pančevo is a city with rich cultural events and monuments, and in the past, it also used to be a filming location for many national and international movie productions. Since 2003 an international and multi-cultural carnival has been organized in the city. It is also the main economic center of the South Banat region and its economy is also mostly tied up to Belgrade's economy. HIP factory is located in Pančevo as well as UTVA which was heavily damaged during the bombing of Yugoslavia in 1999. Pančevo is also well known for its brewery and silk factory which were founded in the early 18th century, and as well as the light bulb factory which are all now defunct. Pančevo is also home to many historical objects, museums and parks.