Founded in 1748, Reading grew as a result of the nearby iron and steel industries, which gave rise to the Philadelphia and Reading Railroad, an important spoke in the wheel that drove the Industrial Revolution. By the 1870s the Philadelphia and Reading Railroad was the largest corporation in the world. From these lofty industrial beginnings, Reading grew to become a mecca for outlet shopping. Shoppers can hunt for bargains and then visit the Pagoda, built in 1907 as a resort high above the city on the pinnacle of Mount Penn. It is now the home of the Berks Arts Council.