We have a strong local economy in Eden Prairie. We can be proud of the many businesses that call our city home. Here’s an update on Eden Prairie business news:
Life Time Fitness Goes Public
Life Time Fitness, Inc. went public last night with it’s initial IPO. There is a good story about the IPO in today’s Star Tribune. Prior to going public, Life Time was tied for 66th place in the ranking of Minnesota’s largest privately held companies. Life Time employees 7,500 people nationwide and had revenues last year exceeding $250,000,000.
Western Petroleum
Western Petroleum may be the biggest company in Eden Prairie that you’ve never heard of. They are in the wholesale fuel business. Western is the 7th largest privately held company in Minnesota. It had gross revenue last year of $1.9 Billion. In the June 25th edition of The Twin Cities Business Journal it was ranked, among privately held companies, as the #1 fastest growing company in the state and the #1 productive company in the state. It’s productivity ranking was based on the company’s total revenue divided by the number of employees at the company that it took to create that revenue. In the case of Western Petroleum’s 55 employees the amount of revenue produced per employee last year was $33,892,857/employee. For the second ranked company in this category, the same number was $2.9 million/employee.
There is a nice profile of the Western’s CEO Mr. James Emison in last week’s Business Journal.
