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:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)