However, as the planned economy fell out of favor after the 1980s, the heavy industry had declined gradually and the city became a rust belt city, with hundreds of thousands of people laid off from bankrupted state-owned factories.[81][82][83] Nonetheless, the economy of the city has revived significantly in recent years, thanks to the central government's "Revitalize Northeast China" campaign and the rapid development of software and auto manufacture industries.[84] Investment subsidies are granted to multinational corporations (MNCs) that set up offices or headquarters in Shenyang.[65]