Economy
Wyomissing is a thriving commercial office and retail center, in large part due to its proximity to Reading. The Berkshire Mall is located in Wyomissing along with several other large shopping centers with their retail giants and restaurants. As crime soared in Reading throughout the 1990s, companies and corporations relocated from the city to newer, Class A office space in the borough. In addition to a suburban layout, the greater Wyomissing area is at the crossroads of U.S. Routes 422 and 222, providing immediate highway access to the rest of the greater Philadelphia and Berks County Region. Several large corporations are headquartered in Wyomissing, including, Penn National Gaming, the second largest gaming company in the U.S., Boscov's Inc., currently the largest family-owned department store chain in the U.S., Carpenter Technology Corp., and Sovereign Bank. UGI Corp. and VF Corp. have major operations in the borough. Wyomissing continues to outpace the rest of the Southeastern Pennsylvania Region in job growth, registering an average job growth of 13.3% per year from 2000 to 2006. Financial giants Merrill Lynch, Goldman Sachs, and Citibank are developing data backup centers using the region's close proximity to major fiber optic lines running down the Eastern Coast of the U.S.
Read more about this topic: Wyomissing, Pennsylvania
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)