The foundation of the Ivano-Frankivsk city is related to the Polish magnate Andrzej Potocki, who, in 1662, began construction of the fortress and the urban settlement which was named Stanislaviv (in honor of Andrzej`s father - Stanislav Potocki). The modern name city received in 1962, the city was named in honor of the famous Ukrainian writer Ivan Franko. Modern Ivano-Frankivsk has considerable industrial potential, enterprises of engineering industry, chemical industry, light industry, as well as wood processing enterprises operates in Ivano-Frankivsk. The plant of Electrolux located in city of Ivano-Frankivsk. The city provides higher education in more than 10 institutions of higher education, the sector of culture includes two theaters and the Philharmonic. Ivano-Frankivsk is famous for its numerous annual music festivals and cultural events.