Agriculture also played an important part in Waterford's economic history. Kilmeadan about 5km from the city was also home to a very successful co-operative. The farmers of the area benefited greatly from the sale of their produce (mostly butter and milk) to the co-op. In 1964, all of the co-ops in Waterford amalgamated, and was registered as Waterford Co-op. This led to the construction of a cheese factory on a green field site opposite the general store, and Kilmeadan cheese was to become one of the most recognised and successful cheddar brands in the world. This is evident as the brand won a gold and bronze medal in the World Cheese Awards in London in 2005.
Today, Waterford is the site of a number of multinational companies including GlaxoSmithkline, Bausch & Lomb, Genzyme, Hasbro, Teva Pharmaceuticals and Honeywell International.
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