Economy
State Farm Insurance was previously a large-scale employer in the city, but the multi-department facility was relocated to Lincoln, Nebraska while retaining a smaller work force at another site in Mendota Heights. There are also many smaller employers, such as the Joint Commission on Allied Health Personnel in Ophthalmology and offices for financial corporations. Many Woodbury residents are employed at 3M, whose headquarters are located a few miles west in Maplewood.
A large portion of the economy is retail. The two largest retail centers are Tamarack Village, near the intersection of Radio Drive and I-94, and Woodbury Village, near the intersection of Valley Creek Road and I-494. Woodbury Lakes, an upscale retail development with an open-air mall layout, was completed in 2005.
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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)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)