Magdalena Mixhuca Sports City. The development of electric power in recent decades has spurred manufacturing in Mexico City. The main industries deal with construction and the production of iron and steel, textiles and yarn, plastics, furniture, and cement. Tourism has normally attracted more than a million visitors each year. Overall, Mexico City accounts for 50 percent of the nation's industrial production, and it has 60 percent of the nonagricultural work force.
Finance is also quite significant.
There are more than 40 major banks in the metropolitan area. It was first called Tenochtitl n and later was named Mexitli in honor of the god of war. The village grew as its inhabitants became more militarily powerful and culturally dominant. In the 15th century the rude dwellings were replaced by stone structures. The town had reached the height of its glory when the Spaniards under Hernando Cortez practically destroyed it in 1521.