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Business and Industry

Business and Industry

Richfield is committed to business and is a great place to locate a business. A growing population, convenient access to the Twin Cities metropolitan area and well-planned infrastructure all contribute to Richfield's opportunities and advantages. Our primary goal is to retain existing business, recruit new businesses, increase employment and foster economic growth in Richfield.

We are home to one of the world’s largest retail electronics companies, Best Buy. This Fortune 100 Company selected Richfield as the site of its new world headquarters campus several years ago, and is the largest employer in Richfield. The Meridian Crossings buildings at 35W and 494 are home to US Bank and the Richfield location represents about 18 percent of the company’s total Twin Cities-based workforce. Many well-known retailers are located in Richfield’s busy shopping areas. If you missed it, go back to the “Shopping & Dining” section of this magazine to learn more about the retail businesses in Richfield.

Top Twelve Employers in Richfield
Best Buy — 4,500+
US Bank — 1,800
Independent School District 280 — 681
Target Store at Cedar Point Commons — 360
Metro Sales — 290
Menards — 224
City of Richfield — 218
Home Depot at Cedar Point Commons — 163
Richfield Health Center — 125
Zerorez — 130
RB Honda — 105
Headway Emotional Health Services — 100

While we are thrilled to welcome large employers to Richfield, small businesses continue to be the lifeblood sustaining our community — particularly the specialty businesses that populate our shopping centers.

Over 700 Richfield businesses and professional associations employ 16,000 people and pay nearly $1 billion in wages annually. They also support the community with over $20 million in property taxes each year and are essential to the economic well-being of our community.

Growing Richfield Richfield continues to re-create itself ensuring that we offer the best place to live, learn, work, do business and visit. The City of Richfield is an acknowledged leader in redevelopment. Projects such as the Best Buy campus have been effective in creating new employment opportunities and updating the City's stock of buildings which have changed the face of the community. Richfield's central location and excellent access to regional roadways makes future opportunities for more large scale redevelopment possible.

City staff is available to work with existing and potential developers on: building expansion and new construction projects; commercial site location for new and expanding businesses; and identifying possible state, county and city financial assistance programs.

A number of plans, such as: the Lyndale Gateway, Lakes at Lyndale, Cedar Avenue Corridor, I-494 Corridor and Penn Avenue Corridor have served as catalysts for both public and private investments that have changed the face of Richfield along some of the city’s most prominent corridors and key community nodes.

For further information regarding development including available development sites, visit cityofrichfield.org.

Future plans include redevelopment of the Lyndale Garden Center along Lyndale Avenue from 66th Street northward to the Crosstown (MN State Highway 62). The project will include a one-acre public park with amenities including a splash pad, a center stage for live performances, a community oven, walking/bicycling trails, edible organic gardens, and an open-air farmer’s market pavilion. Housing will include 151 rental units which will overlook Richfield Lake and a 10,000-square-foot retail building is planned as well that will be back-to-back with a 25,000-square-foot grocer, Lakewinds Natural Foods Co-op.

Among the amenities the grocery store will offer are an extensive local and organic produce, meat and seafood selection; as well as a huge selection of prepared foods, a sushi bar, a hot bar, a salad bar, and indoor and outdoor cafe seating. The grocery store is planned to open Spring 2014. www.lakewinds.coop

“We are very excited to be a part of the Richfield community; the residents share our values for natural foods and products, sustainable agriculture and environmental stewardship, but they also care about supporting businesses that invest back in their communities, which is what the co-op model is all about.” - Dale Woodbeck, General Manager

With sales and maintenance service demand growing each year, Richfield-Bloomington Honda has outgrown its 28,000-square-foot location and is expanding their Richfield presence. The project will feature a brand new Richfield-Bloomington Honda and a new Mitsubishi dealership. The Mitsubishi dealership will occupy about one-third of the total lot. Both dealerships will be two stories pulled to 77th Street West. The walls facing 77th Street will include a significant amount of glass to allow visibility inside the dealerships. In addition, the south side of the Honda building will have a second story and cantilevered mezzanine for vehicle display on I-494. Harriet Avenue is proposed to become a private boulevard between the two dealerships, and will feature benches, shade trees, pedestrian-scale lighting and recessed parking bays for additional vehicle displays.

There are also future plans to construct a multi-story parking ramp additional parking and service center expansion which is scheduled to start construction in January 2020. Construction on the Mitsubishi property will begin in September 2013, and the dealer will move from its current Bloomington location to Richfield in December. Construction on the Honda dealership is set to begin in February 2014 with the new store opening in January 2015.

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