User:AlexiusHoratius/Sandbox
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In 1981, to take advantage of recently relaxed state usury laws, Citibank decided to relocate its primary credit card center from New York to Sioux Falls. Many claim that this event was the primary impetus for the increased population and job growth rates that Sioux Falls has experienced over the past quarter century. Others point out that Citibank's relocation was only part of a more general transformation of the city's economy from an industrially-based one to an economy centered on health care, finance and retail trade.[1]
A healthy economy, low unemployment, and a low crime rate led to Sioux Falls being named "the best place to live in America" by Money magazine in 1992.[citation needed]Sioux Falls has grown at a rapid pace since the late 1970's, with the city's population increasing from 81,000 in 1980 to a present estimate of around 145,000.
Contents |
[edit] Economy
| Organization | Employees |
| Sanford Health | 5,379 |
| Avera McKennan Hospital | 3,449 |
| John Morrell & Co. | 3,301 |
| Citigroup, Inc. | 3,200 |
| Sioux Falls School Dist. | 3,000 |
Originally centered on quarrying and agriculturally-based industries, the economy of Sioux Falls has become greatly diversified and more service-based over the last half-century, making the city an important location for financial services, health care, and retail trade.
[edit] Finance
Due partially to the lack of a state corporate income tax and a generaly pro-business local political climate, Sioux Falls is the home of a number of financial companies. The largest employer among these, and fourth largest employer overall, is Citigroup. Other important financial service companies located here include Total Card Inc., BankFirst, Capital Card Services,HSBC, PREMIER Bankcard, and Wells Fargo.
[edit] Health Care
Sioux Falls is a major regional health care center. There are 4 major hospitals in Sioux Falls: Sanford Health, the largest employer in the city, Avera McKennan Hospital, the second largest employer, as well as the South Dakota Veterans Hospital, and the Avera Heart Hospital of South Dakota. Sioux Falls is also the site of several mail-order pharmacy centers.
[edit] Retail and Dining
Because of the relatively long distances between Sioux Falls and larger cities, Sioux Falls has emerged as an important regional center of shopping and dining. The Empire Mall, with 180 stores, anchors one of the primary shopping areas in the southwest section of the city. This area, centered mainly around the intersection of 41st Street and Louise Avenue, contains many large national chain stores and restaurants. Downtown Sioux Falls is another important shopping and dining area. However, this area, which is primarily centered on Philips Avenue, contains more small, independent retailers and restaurants than the 41st. Street and Louise Avenue area.
