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Today it is a medium-sized settlement, which ranks 6th among Polish towns with the best living conditions. The seat of several institutions of supra-local: Regional Directorate of State Forests, Subcarpathian Provincial Veterinary Inspectorate, the District Election Commission, the Court and the Prosecutor's Office of the District, the District Mining Office, Regional Centre Road, the Sub-Carpathian Regional Hospital, Subcarpathian Center for Teacher Education, the Customs Office, the Institute of Oil and gas and Sucha Góra TV Tower.Notably Krosno is the site of the first oil well (or "mine") in the world. Slovakia is about 35 kilometres (22 mi) south, and Ukraine is about 85 kilometres (53 mi) east of the city.The main trade routes led to the Red Ruthenia, Hungary and the countries of southern Europe.The largest transactions were made during yearly fairs held three times a year.The trade was mainly in local cloths and baizes, horses, cattle, copperware and imported commodities made of copper and iron, and obviously, in Hungarian wine, on which several Krosno merchant families made fortunes.In spite of natural disasters (flood in 1497, the fire of a suburb in 1474 and of the town in 1500), Thomas Tarczay's troops raids (14), pestilence, which nearly depopulated the town, the 16th century was the most favourable for the development of Krosno.The 15th century meant the beginning of commerce development for Krosno.

Hence it should be assumed that about the middle of the 14th century, King Casimir transformed Krosno from a settlement into a town chartered according to the Magdeburg rights and brought in numerous groups of German settlers.

But it was only under King Ladislaus Jagiello that the full-length stone and partly earth town fortifications were completed.

Two gates led into the town: the Hungarian one from the south-east and the Kraków one from the north-west.

In the years 1400-1600 173 natives of Krosno studied in the Kraków Academy, which is evidenced by the entries in Album studiosorum.

Krosno of the 16th century was renowned not only for the wealth of its inhabitants, thrift and wide commercial contacts. Hoghenberg entitled ‘The Towns of the World’, published in Cologne in 1617 or in Andreas Cellarius's work entitled ‘Regin Poloniae Magnique Ducatus Lithuaniae omniumque regionum subiectorum novissima descriptio’, published in Amsterdam in 1659.

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