The mid-to-late 20th century saw diversification in Mequon's economy. Retail stores opened to serve the increasingly suburban community, and manufacturers opened plants. In 1983, Concordia University Wisconsin moved from its campus in Milwaukee to a newly acquired campus in Mequon. In 1994, St. Mary's Hospital Ozaukee opened. As of 2015, the two institutions—both located in close proximity to Interstate 43—were among the largest employers in Ozaukee County. Despite the growth of new industries, half of Mequon's land remains undeveloped and agriculture continues to play a significant role in the local economy.