The city of Macerata, which has more than 42 000 inhabitants, is situated 314 metres above sea level on a ridge between the Potenza and Chienti valleys. In part of the Province of Macerata lies its share of the Fermo-Macerata district, which has the highest concentration of footwear-manufacturing firms in Italy. In addition to traditional industries such as farming and animal husbandry, specialised wine-growing and market gardening, furs and clothing and seaside tourism are staples of the local economy. The city is the site of one of the oldest universities in Italy and Europe, founded in 1290. The Province of Macerata was hit by an earthquake in 2016.