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.
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Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
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