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Q: What drives OMAHA, Nebraska's economy? ( Answered 5 out of 5 stars,   1 Comment )
Subject: What drives OMAHA, Nebraska's economy?
Category: Business and Money
Asked by: shikibobo-ga
List Price: $20.00
Posted: 22 Feb 2005 13:02 PST
Expires: 24 Mar 2005 13:02 PST
Question ID: 478893
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Request for Question Clarification by googlenut-ga on 22 Feb 2005 16:03 PST
Hello shikibobo-ga,

Thank you. I would be happy to do this research for you.  However, due
to my limited time available to work on it, it may take me 2 or 3 days
to complete it.  If this will be a problem for you, then it would
probably be best for me to leave it for another researcher.  Let me
know what you would like to do.


Clarification of Question by shikibobo-ga on 22 Feb 2005 17:53 PST
7 day turnaround is fine on this. Thanks googlenut!
Subject: Re: What drives OMAHA, Nebraska's economy?
Answered By: googlenut-ga on 25 Feb 2005 21:43 PST
Rated:5 out of 5 stars
Hello shikibobo-ga,

Omaha?s economy is largely service based.  The service sector accounts
for nearly 40 percent of total employment. Other key sectors are
trade, transportation and utilities (TTU) and finance, insurance and
real estate (FIRE).

The largest employer in the Omaha metropolitan area is Offutt Air
Force Base. The base employs more than 10,000 military and civilian
workers. The next largest is Alegent Health with approximately 7,500
employees, followed by Omaha Public Schools and First Data Corporation
each with approximately 7,000 employees.


Greater Omaha Chamber of Commerce
?The service sector provides a stable employment base accounting for
38.8 percent of total employment. Services and trade combined,
comprise just over 62 percent of the metro area's employment, which
reflects the city?s status as a regional service and trade center.

Omaha has a higher concentration of its employment in finance,
insurance and real estate (FIRE), trade, transportation and utilities
(TTU) and services than the U.S. does on average. This is offset by a
relatively smaller share of total employment in the manufacturing,
construction and government sectors. The construction sector led the
way in employment growth in the metro area with employment of 24,582
in 2003. Within the service sector, education and health services
posted the second fastest growth with total employment of 55,382.
During 2003, total employment within the service sector averaged
167,249. About half of all new jobs added were service sector jobs.
Many are business services in computer and data processing,
telemarketing, advertising and health services.?


?Historically, one of the area's fastest growing industry sectors has
been services. The service sector encompasses a wide variety of
businesses. During 2003, over one-third of all service sector jobs in
Omaha were in the business services category. Companies in the
business service category include computer and data processing,
information technology, telemarketing, and various other business
services. Another large category in the services sector is health
services, accounting for over 27 percent of all service jobs,
underscoring the Omaha area's importance as a regional, and in some
cases, national medical center.?

Greater Omaha Chamber of Commerce
?Top 10 Employers 
Company                      Employment 
1. Offutt Air Force Base       10,500 
2. Alegent Health               7,500 
3. Omaha Public Schools         7,040 
4. First Data Corp              7,000 
5. Methodist Health System      6,200 
6. Nebraska Medical Center      5,300 
7. Mutual of Omaha Ins.         4,600 
8. Union Pacific Corporation    4,500 
9. First National Bank          4,300 
10. West Corporation            4,000?


?Employment Distribution by Industry 
Construction/Mining 5.6% 
Manufacturing 7.5% 
Trade, Trans., & Utilities 22.4% 
Information 3.2% 
Fin., Insur., & R.E. 8.7% 
Prof. & Business Services 13.6% 
Educ. & Health Services 13.5% 
Leisure & Hospitality 9.2% 
Other Services 3.5% 
Government 12.7%?

Greater Omaha Chamber Of Commerce
Top 20 Employers
Omaha Metropolitan Area

Nebraska Department Of Economic Development
Nebraska - 2003

Encyclopedia: Omaha, Nebraska,-Nebraska
Although Nebraska's economy is still primarily based on agriculture,
Omaha's economy today has diversified to become a national leader in
several industries, including banking, insurance, telecommunications,
and transportation; Omaha's economy has grown dramatically since the
early 1990s.

Omaha is the home of the headquarters of a number of major corporations, including:

Berkshire Hathaway -- Fortune 500 
ConAgra Foods, Inc. -- Fortune 500 
First National Bank of Omaha 
Mutual of Omaha -- Fortune 500 
Omaha Steaks 
Peter Kiewit and Sons, Inc. Construction Co -- Fortune 500 
Union Pacific Railroad -- Fortune 500 
Werner Enterprises -- Fortune 500 
Woodmen of the World 
West Corporation 

The Omaha metropolitan area is home to Offutt Air Force Base, which
was the location of the Strategic Air Command (SAC) during the Cold
War and is the current home of the U.S. Strategic Command

May 12, 2003
Kwame Holman reports on President Bush's tax cut road show
?KWAME HOLMAN: Louis Burgher, president of Omaha's Chamber of
Commerce, said many cities could use additional financial help, but
that Omaha is doing pretty well without it.

LOUIS BURGHER: We see about a 5 percent year-to- year increase in
housing starts, construction. We're completing $2 billion in building
in downtown Omaha. We've had a real renaissance along the waterfront.
So construction is strong. Omaha is largely a service-based economy,
not a lot of manufacturing, so we tend to not see the highs and the
lows, and things have been fairly stable.?

Omaha, Nebraska
"The Good Life"
?A Diverse Economy

Perhaps the key to Omaha's success is its recession proof economy.
Since its founding in 1856, Omaha has been a major hub of commercial
activity. Because of its diverse economic base, Omaha has survived all
of the recessions that hurt so many of the other Midwest cities. Apart
from its status as the nation's telecommunications capital, Omaha's
economy includes agriculture, food processing, insurance,
transportation, healthcare and education. Warren Buffet of Berkshire
Hathaway makes his home in Omaha, as do Con Agra, Union Pacific
Railroad and Mutual of Omaha Companies, all Fortune 500 Corporations.?

The Federal Reserve Bank of Kansas City
?Although the finance and real estate sectors are less important than
in the nation as a whole, Nebraska has a sizeable insurance industry,
most of it located in Omaha.?

Greater Omaha Chamber of Commerce 
Published February 2005

U.S. Department of Labor
Bureau of Labor Statistics
Omaha, NE
Economy at a Glance

U.S. Census Bureau American FactFinder
Omaha city, Nebraska 
Selected Economic Characteristics: 2003
2003 American Community Survey Summary Tables

U.S. Census Bureau American FactFinder
Omaha city, Nebraska 
Selected Economic Characteristics: 2003
2003 American Community Survey Summary Tables

U.S. Department of Labor
Bureau of Labor Statistics
November 2003 Metropolitan Area Occupational Employment and Wage Estimates
Omaha, NE-IA MSA


I hope you have found this information helpful.  Please let me know if
you need further information or if you have any questions.


Google Search Terms:

omaha nebraska

omaha largest OR top employers

omaha economy OR "economic drivers"

omaha nebraska economic

omaha finance insurance real estate transportation communications utilities

Offutt omaha employment
shikibobo-ga rated this answer:5 out of 5 stars and gave an additional tip of: $5.00
Excellent as always!

Subject: Re: What drives OMAHA, Nebraska's economy?
From: googlenut-ga on 25 Mar 2005 07:06 PST
Hello shikibobo-ga,

Thank you for the kind words, the 5-star rating and the tip!


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