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Building upon Success

Thanks to committed leaders, a dedicated population and a wealth of public-private partnerships, Greater Omaha is adding extraordinary opportunities and building upon its reputation as a destination of choice where people can live, work and enjoy the exciting features of a vibrant metropolitan city.

New construction and redevelopment projects have energized the city and its surrounding communities. The downtown skyline reflects progress and vision. Benson, Midtown, North Omaha, South Omaha, Florence and other historic neighborhoods are being redeveloped and renewed. In western areas of the city, rolling hills are filling with upscale housing, innovative retail developments and gleaming business parks.

“Economic growth is taking place throughout the Greater Omaha metro area, including new development as well as the revitalization of established neighborhoods,” says David G. Brown, president and CEO of the 3,600-member Greater Omaha Chamber of Commerce. “Recent announcements of Mutual of Omaha’s Midtown Crossing, the Aksarben Village, Coventry and 80Dodge development projects, the WallStreet Tower project downtown, the Ray and Joan Kroc Community Center in South Omaha and the North Omaha Development Preoject demonstrate a logical progression in the redevelopment of our community.”

Brown points out that the downtown and riverfront areas have benefited from more than $2 billion in new capital investment, all within less than a decade.

Along the riverfront, the Gallup University campus is a neighbor to the National Park Service regional headquarters building and Qwest Center Omaha convention center and arena, which ranks among the top twenty venues in the world in concert ticket sales.

A few blocks away sit other recent additions: the 40-story First National Bank Tower, the Union Pacific headquarters building, the Omaha World-Herald Freedom Center production facility and the $94 million Holland Performing Arts Center.

Sprinkled throughout downtown are enough condominium, apartment and office construction and renovation projects to turn any midwest city green with envy. The $107 million, 32-story WallStreet Tower, which will be home to 282 condominium units, as well as office and retail space, will soon begin to rise at the site of the former Union Pacific headquarters building.

“One of the most exciting aspects of the renaissance of downtown Omaha is the variety of living options,” Brown says. “The diversity of the various condo, apartment and loft developments simply heightens the area’s attraction.

“From young professionals to families to empty-nesters, there is something to fit every lifestyle and income, and all within walking distance of work, restaurants, night life, museums, festivals, theater and concerts.”

Development
The new North Downtown mixed-use urban development near Creighton University is a hot spot, already attracting $100 million in new investment.

Brown says the enthusiasm is spreading beyond the borders of Douglas County. “In Sarpy County, the southern portion of our metro area, we see strong development taking place in the Southport Business Park and Shadow Lake Towne Center. Heading north to Washington County, the expansion of the Cargill ethanol plant and the Hayden Place commercial development are among a number of significant projects taking place there.”

Last fall, the Chamber announced the North Omaha Development Project to lay out a strategy that builds upon the economic growth already underway in that area. The Chamber, several large corporations, private foundations, African-American business leaders, North Omaha businesses and individuals have pledged the funding to create a plan and implement it.

Community leaders who share a vision for reinvestment in the core neighborhoods are driving urban redevelopment, Brown says. “Their ongoing commitment to the vitality and economic growth of our community is truly exceptional.”

The Chamber’s role in promoting new development and redevelopment is defined by its mission statement: To increase business, investment and employment in the Greater Omaha area.

To help fulfill its mission, the Chamber has taken the lead with the Greater Omaha Economic Development Partnership’s “GO!” economic development program. By the end of 2006, GO!, which set a goal of raising $20 million in pledges over a five-year period when begun in 2004, had recruited 251 investors and pledges of more than $18.3 million.

“Since the launch of the GO! initiative, the Chamber’s economic development team has successfully landed 123 projects representing $2.02 billion in capital investment and nearly 9,465 jobs,” Brown adds proudly.

Tax Incentives
The Chamber’s legislative team takes a proactive approach in promoting business-friendly legislation, such as the Nebraska Advantage comprehensive package of business and tax incentives that became effective in 2006.

“No matter the task or the arena, the Chamber is committed to creating an environment that promotes business and community growth throughout the region,” Brown says. “In pursuit of this goal, we will continue to identify opportunities that will help us meet our ambitious objectives.”

Building upon a solid past, to ensure a vibrant future.

Check out the Chamber Web site to find information about doing business in Omaha, joining the Chamber and for a calendar of events.

www.omahachamber.org
www.accessomaha.com

By the Numbers

• 126 square miles – size of the city of Omaha.
• 425,000 – approximate population of the city of Omaha in 2006.
• 4,363 square miles – size of the eight-county Omaha Metropolitan Statistical Area (MSA): Douglas, Cass, Sarpy, Saunders and Washington counties in Nebraska and Pottawattamie, Harrison and Mills counties in Iowa.
• 819,246 – approximate 2006 population of the Omaha MSA.
• 43 – Omaha’s ranking among the top 50 U.S. cities according to population.
• 37 – Omaha’s national ranking among the top 50 U.S. cities according to SustainLane Government, which ranks cities according to their “urban sustainability” based on environmental, economic and social issues.
• 35.1 – median age.
• $51,752 – estimated 2006 median income, compared to $48,271 for the United States.
• $56,869 – average household income.
• $136,200 – median price for an existing home in the Omaha area in 2006 compared to the U.S. median price of $219,300.
• 11 percent below – the cost of living in Omaha compared to the national average.
• 33,000 – estimated number of local businesses.
• 63 percent – number of Chamber survey respondents who said they expect Omaha’s economic performance to continue to improve in 2007.
• 73 percent – survey respondents who expect stronger sales in 2007.
• 19.6 minutes – average commute time in Omaha compared to national average of 25.1 minutes.
• 87 degrees Fahrenheit – average high temperature in July.
• 10 degrees Fahrenheit – average low temperature in January.

Sources: U.S. Census Bureau, Greater Omaha Chamber of Commerce, Applied Geographic Solutions, ACCRA Cost of Living Index, CountryStudies US, National Association of REALTORS, Money magazine.