In 1962, Lloyd's Department Store became the first major shopping center in Newburgh. Its motto was "Years Ahead". Many features of Lloyd's, including widely divergent ministores under one roof, did not become common in other shopping centers for many decades. Lloyd's successfully drew a great deal of retail business away from the downtown area. In 1964, the Mid Valley Mall opened, also outside of the city limits in Newburgh, and attracted many long-established local businesses away from the waterfront and downtown city of Newburgh. Other retail shopping malls soon sprang up, all also outside the city of Newburgh, and the retail industry of the city declined further. The city continued to lose its previously well regarded retail sector along Water Street and Broadway to the suburban shopping malls, which did not share the city's congested parking and traffic problems or the perceived rising crime rate.