Editing Hagen (section)

=== Late 20th century to the present ===
At the beginning of the 1970s, the decline of heavy industry in Hagen began in the wake of the [[steel crisis]]. Hasper Hütte was completely shut down between 1972 and 1982, Gussstahlwerke Wittmann went bankrupt and two of the three plants of Stahlwerke Südwestfalen were closed. Further job losses affected the food industry with the breweries Bettermann and Andreas, the confectionery manufacturers Villosa and Grothe and the production plant of [[Brandt (company)|Zwieback Brandt]].

The pedestrian zone in the city centre was opened in the 1970s.

In the early 1980s, Hagen made a name for itself as the ‘Liverpool of [[Neue Deutsche Welle|New German Wave (Neue Deutsche Welle)]]’. Many well-known musicians and bands of this musical genre (including [[Nena]], [[Extrabreit]] and the sisters [[Annette Humpe|Annette]] and [[Inga Humpe]]) have their roots in Hagen.

Economically, Hagen came under renewed pressure in the 1990s due to increasing globalisation. A further wave of deindustrialisation began in the steel sector, while Hagen's population declined at the same time. Hagen's debt level was €1.383 billion on 31 December 2012.<ref>{{Cite web |title=Kredite, Kassenkredite und Wertpapierschulden der Gemeinden und Gemeindeverbände Nordrhein-Westfalens am 31.12.2012 |url=https://www.it.nrw.de/presse/pressemitteilungen/2013/pdf/117_13.pdf|archive-url=https://web.archive.org/web/20160304113705/https://www.it.nrw.de/presse/pressemitteilungen/2013/pdf/117_13.pdf |archive-date=2016-03-04 }}</ref>

Since the 2000s, major new construction and renovation projects have been realised that have significantly shaped Hagen's cityscape today. Examples include the Volme- and Rathaus-Galerie, the redesign of Friedrich-Ebert-Platz and the station forecourt (Berliner Platz) as well as the construction of the new town hall on the riverside.

In mid-July 2021, Hagen was affected by a flood disaster caused by heavy rainfall. In particular, damage was caused in the Volme valley and Hohenlimburg.<ref>{{Cite web |last=Stubbe |first=Jens |date=2021-08-19 |title=Hochwasser in Hagen: Nach der Flut türmen sich Trümmerberge |url=https://www.wp.de/staedte/hagen/article233091175/Hochwasser-in-Hagen-Nach-der-Flut-tuermen-sich-Truemmerberge.html |access-date=2024-08-18 |website=www.wp.de |language=de}}</ref>