Economy of Omaha, Nebraska
Encyclopedia
The economy of Omaha, Nebraska
has served as a major commercial hub in the Midwestern United States
since its founding in 1854. Dubbed the "Motor Mouth City" by The New York Times
, Omaha
is widely regarded as the telecommunications capital of the United States. The city's economy
includes agriculture
, food processing
, insurance
, transportation
, healthcare
and education
. Warren Buffett
of Berkshire Hathaway
has lived in Omaha all of his life, as have the ConAgra Foods
, Union Pacific Railroad
and Mutual of Omaha
Companies, all Fortune 500
corporations.
According to the Nebraska
Department of Labor, in March 2008 the unemployment rate in Omaha was 3.9 percent. Between 2000 and 2005 Omaha's job growth was 0.70 percent. In 2006 the sales tax
rate was seven percent, with income tax
at 6.68 percent. That same year the median family income
was $56,869, with a 1.80 percent housing price gain.
In September 2007 the city ranked eighth among the 50 largest cities in the United States in both per-capita billionaires and Fortune 500 companies. According to USA Today
, no other city in the country could claim a ranking as high as Omaha on both lists. The paper identified the richest residents of Omaha as Ameritrade founder Joe Ricketts, worth $1.5 billion; Walter Scott
of Peter Kiewit Sons, worth $1.2 billion; and Warren Buffett, then valued by Forbes
magazine at $44 billion. The city ranks fourteenth among the states for philanthropic giving
, according to the Catalogue of Philanthropy.
, the city's economy grew in cycles. Early success as a transportation hub drew a variety of economic sector
s to the downtown area
. The early warehousing area was located next to the Missouri River
, drawings good from steamboats coming upriver from Kansas City
and St. Louis, Missouri
, as well as points east. The Union Pacific Railroad
has been headquartered in Omaha since its inception, eventually bringing the meatpacking, stockyard, and regional brewing
companies to the city. The American Smelting and Refining Company owned a large plant on the Omaha riverfront from 1881 into the 1990s, when the Environmental Protection Agency
forced it to close.
Omaha has a long history of labor unrest and conflict between management and workers. As a long-time open shop
the city gained the reputation for actively breaking union
s; however, with the loss of large-scale railroad operations
and meat production, the labor-driven protests, rioting and civil unrest of the past appears to be gone.
center for the United States
. The wholesale jobber purchased goods directly from the manufacturer, transported these goods via the railroads, and sold them directly to small businesses through traveling salesmen. Omaha jobbers handled a wide variety of wholesale products along the Great Platte River Road
and beyond, including groceries, dry goods, hardware, fruits, paper, and liquor.
Omaha earned its nickname, the "Gateway to the West", because of its central location as a transportation hub
for the United States
in the middle and late 19th century. Emigrants, gold seekers
, Mormon
s, freighters, Native Americans
, speculators and land sharks all contributed. The Omaha Claim Club
was an early land claim seller, court, jury and enforcement group. Jobbers Canyon grew as a warehousing
center as carriage
factories, wholesale houses, and barbed wire
factories, along with Downtown Omaha
department stores such as Brandeis
and hotels such as Hotel Fontenelle
. The city's breweries
, brickyard
s, iron works, flour mills, and the Union Pacific headquarters caused the city to swell rapidly between the 1880s and the 1920s.
The "Big Four" local breweries in Omaha were the Storz, Krug
, Willow Springs and Metz
breweries.
. Other important businesses included the Byron Reed Company
and the N.P. Dodge Company
.
, the Omaha Stockyards were third in the nation for production by 1890. The "Big Four" meat packers during this time were Armour
, Wilson
, Cudahy
, and Swift
. There were several breweries established throughout the city during this period. In 1947 they were second only to Chicago in worldwide ratings. Omaha overtook Chicago as the U.S.'s largest livestock
market and meat packing industry
center in 1955, a title which it held until 1971. The 116-year-old institution closed in 1999.
, Cudahy
, Swift
and Morris
, along with several smaller companies. All together they employed over 13,000 men by the 1950s.
provided the initial source of revenue for young Omaha, as fur trappers such as Manuel Lisa
used the area
to build their inland empires with local Native American tribes. As steamboat
s started pouring in goods manufactured in the Eastern United States
, thousands of tons of goods came through the city. However, the problem of transporting materials for the growing Midwestern United States
needed to be addressed, which luckily opened the doorways to the city's major growth engine in its earliest years. The second period of growth in Omaha, from approximately 1865 through the 1880s, is attributed solely to the city's railroad connections
, which drew almost all significant rail traffic from the Pacific Northwest
through the area. By the 1870s, Omaha had seven major rail lines.
Major bus lines and airlines have traveled through the city for almost 100 years. Several major highways and bridges come into the city as well.
, the entrepreneur behind the Lone Tree Ferry
which brought settlers across from Council Bluffs, Iowa
. Alfred D. Jones
was a surveyor and lawyer who first platted the city. Later the brothers Edward
and John A. Creighton
traveled west from their native Ohio
planting telegraph wires along the way. Their contributions to the city's growth were innumerable, with varied backgrounds in banking, investing and philanthropy. Similarly, the Kountze family's impact on the city was immense. Augustus
and his brother Herman
founded the bank that became the First National of Nebraska
, which today is the largest independent bank in the U.S., and is still headquartered in Omaha. Gilbert Hitchcock
and Edward Rosewater
were among the many influential newspaper editors in the city, founding empires that promoted, molded and drove economic development. Frederick Krug
, Frederick Metz
and Gottlieb Storz
were all early beer
brewer
s, with counterparts in the meatpacking industry included Edward Cudahy, Sr. among others.
Currently the service sector accounts for nearly 40 percent of total employment in Omaha. Other key sectors are trade
, transportation and utilities
, as well as the finance
, insurance
and real estate
sectors. Telecommunications and architecture
/construction
are also major influences on the local economy. The Greater Omaha Economic Development Partnership identifies the defense industry
, manufacturing, and information technology
as important areas, as well.
The presence of the Strategic Air Command
during the Cold War
and the U.S. Strategic Command has led to a strong defense
industry. Transportation in Omaha
has been vital to the city's growth, with more than 144 million pounds of cargo passing through Eppley Airfield
in 2004. The Union Pacific and several other major railroads provide freight service that is coordinated with many of the trucking companies serving the metropolitan area.
Studies also show that the Holland Foundation, which is based in Omaha, is one of the most generous philanthropic foundation
s in the United States.
, as well as three Fortune 1000
financial services companies: Berkshire Hathaway, Mutual of Omaha and TD Ameritrade
, make Omaha one of the highest density clusters of the financial sector in the country.
magazine, "Omaha is where the blue-collar work of the information economy is done. Phones are answered, money is counted, and data are processed. Six national fiber optic networks converge here."
The telecommunications industry has gravitated to Omaha over the last 30 years. After the U.S. government relocated the Strategic Air Command here after World War II
the city became home to one of the world's most advanced and secure phone systems. Other factors in the city's success include Omaha's location in the Central Time Zone, making it more convenient to call either coast during the work day, as well as local speech patterns, described as "pure American," making it easily understood everywhere. Nebraska state regulators granted local phone companies wide latitude to deploy new services rapidly, and Omaha's Metropolitan Community College
created telecommunications-related courses and training programs. Since the early 1980s a number of large hotel and travel reservation operations, including those for Marriott
, Hyatt
, Radisson
and Westin hotels, as well as the traffic information center for Greyhound Bus Lines have all been located in the city. After the AT&T breakup, US West
, the phone company whose 14-state territory includes Nebraska, adopted the slogan "Dial 800 and get Omaha" to promote its services. Worldwide telecommunications company West Corporation
was founded in Omaha in 1986 and is currently still headquartered there. Other nationwide companies with major call center operations located in Omaha include Paypal
, Cox Communications
, and Aflac
.
Omaha was one of the first U.S. cities to develop a fiber optic network. Over the past 10 years its telecommunications foundation has expanded into a thriving information technology sector. Today the city has several educational facilities focused on information technology and telecommunications, including the University of Nebraska's Peter Kiewit Institute
, Creighton University
's Joe Ricketts Center in Electronic Commerce and Database Marketing, the Creighton Institute of Information Technology Management and programs at Bellevue University
.
, which employs more than 10,000 military and civilian workers. Next is Alegent Health, with approximately 7,500 employees, followed by Omaha Public Schools
and First Data Corporation, each with approximately 7,000 employees. Other major employers include Methodist Health System, Mutual of Omaha
, ConAgra Foods
, Nebraska Health System, Odyssey Staffing, Inc., Staff Mid-America and the West Corporation
.
According to USA Today
, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. Warren Buffett
, nicknamed the "Oracle of Omaha", was ranked the richest person in the world in 2007richest people in the world. Other influential businesspeople in the area include Cathy Hughes
, owner of Radio One.
, Crossroads Mall
, Oak View Mall
, and Village Pointe, an outdoor shopping mall located in far west Omaha, which houses some of Omaha's finer national retailers such as Coach, Inc. and Apple Inc. Shadow Lake Towne Center is another large scale outdoor shopping mall located in Papillion
, a suburb of Omaha. Several smaller scale shopping centers are located throughout the city. One Pacific Place and Regency Court Mall are upscale shopping centers in the Regency
neighborhood. Borsheim's Fine Jewelry
62500 square feet (5,806.4 m²) store is located in Regency Court Mall. Sorensen Park Plaza, Aksarben Village, Midtown Crossing and Rockbrook Village are other major shopping centers in the Omaha area.
Nebraska Furniture Mart
, located near Crossroads Mall on 72nd and Dodge, is the largest home furnishings store in North America.
The Target Corporation
entered the hypermarket
format in 1995 by opening its first SuperTarget store in Omaha.
Although Downtown Omaha
was once the major retail district in the city, most retail locations are now located in Midtown and West Omaha. However, the Old Market District has several local specialty shops and clothing stores and boutiques. The NoDo
development has brought national retailers back to downtown with Urban Outfitters
and American Apparel
opening in the Slowdown
development.
The neighborhoods of Benson, Dundee, and South Omaha
all have main street retail districts.
list, including Berkshire Hathaway
(#12), Union Pacific (#151), ConAgra Foods, Inc. (#173), Peter Kiewit and Sons, Inc. (#446) and Mutual of Omaha
(#489). Omaha is home to the headquarters of several other major corporations, including The Gallup Organization
, TD Ameritrade
, infoUSA
, Werner Enterprises
and First National Bank
. Many large technology firms have major operations or operational headquarters in Omaha, including First Data
, PayPal
and LinkedIn
. The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc.
, DLR Group, Inc., and Leo A. Daly Co.. The Lozier Corporation, First Data Corp, ITI Marketing Services, Omaha Steaks
, Pamida
, Oriental Trading Company
, Valmont Industries
, First Comp Insurance, and Godfather's Pizza
also are based in the city.
Recently the city has experienced a large amount of economic growth. In the downtown area
the Omaha World-Herald
s Freedom Center, the First National Bank Tower
, the Qwest Center Omaha
and the Gallup University campus have each been identified as central to the city's revitalization efforts. WallStreet Tower Omaha
is a downtown addition that will be the third tallest building in the city when its finished. The Missouri River
waterfront development project features a pedestrian bridge
between Omaha and Council Bluffs, as well as two condominium towers and an area for retail and restaurants. In the north downtown
area redevelopment has been ongoing, with interest piquing after the recent announcement of a new downtown baseball stadium for the College World Series
in the area.
In West Omaha, parts of which were covered in cornfields as recently as 2002, several commercial districts and high wealth neighborhoods have developed. A mixed-use development in southwest Omaha called Coventry will be a complex of mansions, commercial development, and retail/restaurants. Projects are also under way for improving North Omaha. In the Midtown area
, Mutual of Omaha
is redeveloping an area bordering 31st to 33rd streets and Dodge to Harney streets that is called Midtown Crossing at Turner Park
Featuring condominiums, apartments and an Element Hotel, the area will also host an urban style movie theater with restaurant and bar/club included, a grocery store, restaurants, a dry cleaners, a health club and other shops and services. After renovating and expanding the public Turner Park, the development seeks to be a catalyst for further redevelopment in the area. Another mixed-use project in Midtown is situated on the site of the former Ak-Sar-Ben
Collesium. Aksarben Village
will be a huge complex consisting of University of Nebraska at Omaha
's Aksarben Campus containing learning centers and dorms, Blue Cross and Blue Shield of NE's new Headquarters, First Data
's Omaha offices, a neighborhood grocer, restaurants, shops, a hotel, lounges, bars and clubs, as well as a movie theater, residential areas and several other medium and small business offices.
Also, in 2009, Omaha released a new master plan for Downtown's development over the next 30 years. It divides several unique districts, The Downtown Center, North Downtown, the Entertainment district, the North and South Riverfront, the Joslyn District, The Park East/Farnam District, and the Old Market District. The Entertainment district will include the Qwest Center and the TD Ameritrade Park. Also, there is a proposed area for a several soccer or baseball fields. A large Part of the new Master Plan is the prediction of 8 new office towers in the next 30 years.
Another positive economic note for Omaha is that out of all major U.S. cites it was least affected by the 2008 economic recession.
Omaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...
has served as a major commercial hub in the Midwestern United States
Midwestern United States
The Midwestern United States is one of the four U.S. geographic regions defined by the United States Census Bureau, providing an official definition of the American Midwest....
since its founding in 1854. Dubbed the "Motor Mouth City" by The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
, Omaha
Omaha, Nebraska
Omaha is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 20 miles north of the mouth of the Platte River...
is widely regarded as the telecommunications capital of the United States. The city's economy
Economy of the United States
The economy of the United States is the world's largest national economy. Its nominal GDP was estimated to be nearly $14.5 trillion in 2010, approximately a quarter of nominal global GDP. The European Union has a larger collective economy, but is not a single nation...
includes agriculture
Agriculture in the United States
Agriculture is a major industry in the United States and the country is a net exporter of food. As of the last census of agriculture in 2007, there were 2.2 million farms, covering an area of , an average of per farm.-History:...
, food processing
Food processing
Food processing is the set of methods and techniques used to transform raw ingredients into food or to transform food into other forms for consumption by humans or animals either in the home or by the food processing industry...
, insurance
Insurance in the United States
Insurance in the United States refers to the market for risk in the United States of America. Insurance, generally, is a contract in which the insurer , agrees to compensate or indemnify another party for specified loss or damage to a...
, transportation
Transportation in the United States
Transportation in the United States is facilitated by road, air, rail, and water networks. The vast majority of passenger travel occurs by automobile for shorter distances, and airplane for longer distances...
, healthcare
Health care in the United States
Health care in the United States is provided by many separate legal entities. Health care facilities are largely owned and operated by the private sector...
and education
Education in the United States
Education in the United States is mainly provided by the public sector, with control and funding coming from three levels: federal, state, and local. Child education is compulsory.Public education is universally available...
. Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
of Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
has lived in Omaha all of his life, as have the ConAgra Foods
ConAgra Foods
ConAgra Foods, Inc. is an American packaged foods company. ConAgra's products are available in supermarkets, as well as restaurants and food service establishments. Its headquarters are located in Omaha, Nebraska...
, Union Pacific Railroad
Union Pacific Railroad
The Union Pacific Railroad , headquartered in Omaha, Nebraska, is the largest railroad network in the United States. James R. Young is president, CEO and Chairman....
and Mutual of Omaha
Mutual of Omaha
Mutual of Omaha is a Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. The company was founded in 1909 as Mutual Benefit Health and Accident Association.- History :...
Companies, all Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
corporations.
According to the Nebraska
Nebraska
Nebraska is a state on the Great Plains of the Midwestern United States. The state's capital is Lincoln and its largest city is Omaha, on the Missouri River....
Department of Labor, in March 2008 the unemployment rate in Omaha was 3.9 percent. Between 2000 and 2005 Omaha's job growth was 0.70 percent. In 2006 the sales tax
Sales tax
A sales tax is a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale....
rate was seven percent, with income tax
Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate...
at 6.68 percent. That same year the median family income
Family income
Family income is generally considered a primary measure of a nation's financial prosperity.In the United States, political parties perennially disagree over which economic policies are more likely to increase family income. The party in power often takes the credit for any significant changes in...
was $56,869, with a 1.80 percent housing price gain.
In September 2007 the city ranked eighth among the 50 largest cities in the United States in both per-capita billionaires and Fortune 500 companies. According to USA Today
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
, no other city in the country could claim a ranking as high as Omaha on both lists. The paper identified the richest residents of Omaha as Ameritrade founder Joe Ricketts, worth $1.5 billion; Walter Scott
Walter Scott
Sir Walter Scott, 1st Baronet was a Scottish historical novelist, playwright, and poet, popular throughout much of the world during his time....
of Peter Kiewit Sons, worth $1.2 billion; and Warren Buffett, then valued by Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine at $44 billion. The city ranks fourteenth among the states for philanthropic giving
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
, according to the Catalogue of Philanthropy.
Historic economic sectors and industries
In the years after the founding of OmahaHistory of Omaha, Nebraska
The history of Omaha, Nebraska began before the settlement of the city, with speculators from neighboring Council Bluffs, Iowa staking land across the Missouri River illegally as early as the 1840s. Before it was legal to claim land in Indian Country, William D. Brown was operating the Lone Tree...
, the city's economy grew in cycles. Early success as a transportation hub drew a variety of economic sector
Economic sector
An economy may include several sectors , that evolved in successive phases.* The ancient economy was mainly based on subsistence farming....
s to the downtown area
Downtown Omaha
Downtown Omaha is the central business, government and social core of the Omaha-Council Bluffs metropolitan area, and is located in Omaha, Nebraska. The boundaries are 20th Street on the west to the Missouri River on the east and the centerline of Leavenworth Street on the south to the centerline...
. The early warehousing area was located next to the Missouri River
Missouri River
The Missouri River flows through the central United States, and is a tributary of the Mississippi River. It is the longest river in North America and drains the third largest area, though only the thirteenth largest by discharge. The Missouri's watershed encompasses most of the American Great...
, drawings good from steamboats coming upriver from Kansas City
Kansas City, Missouri
Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties...
and St. Louis, Missouri
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
, as well as points east. The Union Pacific Railroad
Union Pacific Railroad
The Union Pacific Railroad , headquartered in Omaha, Nebraska, is the largest railroad network in the United States. James R. Young is president, CEO and Chairman....
has been headquartered in Omaha since its inception, eventually bringing the meatpacking, stockyard, and regional brewing
Brewing
Brewing is the production of beer through steeping a starch source in water and then fermenting with yeast. Brewing has taken place since around the 6th millennium BCE, and archeological evidence suggests that this technique was used in ancient Egypt...
companies to the city. The American Smelting and Refining Company owned a large plant on the Omaha riverfront from 1881 into the 1990s, when the Environmental Protection Agency
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...
forced it to close.
Omaha has a long history of labor unrest and conflict between management and workers. As a long-time open shop
Open shop
An open shop is a place of employment at which one is not required to join or financially support a union as a condition of hiring or continued employment...
the city gained the reputation for actively breaking union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
s; however, with the loss of large-scale railroad operations
Railroads in Omaha
Railroads in Omaha, Nebraska have been integral to the growth and development of the city, the state of Nebraska, the Western United States and the entire United States...
and meat production, the labor-driven protests, rioting and civil unrest of the past appears to be gone.
Wholesaling and manufacturing
In 1880 Omaha began its role as a wholesale jobbingJobbing house
A jobbing house is a type of wholesale merchant business that buys goods and bulk products from importers, other wholesalers, or manufacturers, and then sells to retailers. Jobbing houses can deal in any commodity destined for the retail market. Typical categories are food, lumber, hardware,...
center for the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The wholesale jobber purchased goods directly from the manufacturer, transported these goods via the railroads, and sold them directly to small businesses through traveling salesmen. Omaha jobbers handled a wide variety of wholesale products along the Great Platte River Road
Great Platte River Road
The Great Platte River Road was the convergence point for the Trapper's Trail, the Oregon Trail, the Mormon Trail, the California Trail, the Pony Express route, and the military road from Fort Leavenworth to Fort Laramie across Nebraska. The Road, which extended from the Second Fort Kearny to Fort...
and beyond, including groceries, dry goods, hardware, fruits, paper, and liquor.
Omaha earned its nickname, the "Gateway to the West", because of its central location as a transportation hub
Transportation in Omaha
Transportation in Omaha, Nebraska includes most major modes, such as pedestrian, bicycle, automobile, bus, train and airplane. While early transportation consisted of ferries, stagecoaches, steamboats, street railroads, and railroads, the city's transportation systems have evolved to include the...
for the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
in the middle and late 19th century. Emigrants, gold seekers
Gold rush
A gold rush is a period of feverish migration of workers to an area that has had a dramatic discovery of gold. Major gold rushes took place in the 19th century in Australia, Brazil, Canada, South Africa, and the United States, while smaller gold rushes took place elsewhere.In the 19th and early...
, Mormon
Mormon
The term Mormon most commonly denotes an adherent, practitioner, follower, or constituent of Mormonism, which is the largest branch of the Latter Day Saint movement in restorationist Christianity...
s, freighters, Native Americans
Native Americans in the United States
Native Americans in the United States are the indigenous peoples in North America within the boundaries of the present-day continental United States, parts of Alaska, and the island state of Hawaii. They are composed of numerous, distinct tribes, states, and ethnic groups, many of which survive as...
, speculators and land sharks all contributed. The Omaha Claim Club
Omaha Claim Club
The Omaha Claim Club, also called the Omaha Township Claim Association and the Omaha Land Company, was organized in 1854 for the purpose of "encouraging the building of a city" and protecting members' claims in the area platted for Omaha City in the Nebraska Territory. At its peak the club included...
was an early land claim seller, court, jury and enforcement group. Jobbers Canyon grew as a warehousing
Warehouse
A warehouse is a commercial building for storage of goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial areas of cities and towns. They usually have loading docks to load and unload...
center as carriage
Carriage
A carriage is a wheeled vehicle for people, usually horse-drawn; litters and sedan chairs are excluded, since they are wheelless vehicles. The carriage is especially designed for private passenger use and for comfort or elegance, though some are also used to transport goods. It may be light,...
factories, wholesale houses, and barbed wire
Barbed wire
Barbed wire, also known as barb wire , is a type of fencing wire constructed with sharp edges or points arranged at intervals along the strand. It is used to construct inexpensive fences and is used atop walls surrounding secured property...
factories, along with Downtown Omaha
Downtown Omaha
Downtown Omaha is the central business, government and social core of the Omaha-Council Bluffs metropolitan area, and is located in Omaha, Nebraska. The boundaries are 20th Street on the west to the Missouri River on the east and the centerline of Leavenworth Street on the south to the centerline...
department stores such as Brandeis
J. L. Brandeis and Sons Store
J.L. Brandeis & Sons, commonly referred to by Midwesterners as Brandeis, was a chain of department stores located in the Omaha, Nebraska area started by Jonas L. Brandeis in 1881. It was purchased by Younkers for $33.9 million in 1987, when the stores were converted to the Younkers...
and hotels such as Hotel Fontenelle
Hotel Fontenelle
Hotel Fontenelle was an upscale commercial hotel once located at 1806 Douglas Street in downtown Omaha, Nebraska. Designed by noted architect Thomas Rogers Kimball in the Late Gothic Revival style, it was built in 1914 and demolished in 1983...
. The city's breweries
Brewery
A brewery is a dedicated building for the making of beer, though beer can be made at home, and has been for much of beer's history. A company which makes beer is called either a brewery or a brewing company....
, brickyard
Brickyard
A brickyard is a place or yard where the earthen building material called bricks are made, fired, and stored, or sometimes sold or otherwise distributed from.-See also:...
s, iron works, flour mills, and the Union Pacific headquarters caused the city to swell rapidly between the 1880s and the 1920s.
The "Big Four" local breweries in Omaha were the Storz, Krug
Krug Brewery
The Fred Krug Brewery was located at 2435 Deer Park Boulevard in Omaha, Nebraska. Founded in 1859, Krug Brewery was the first brewery in the city. Krug was one of the "Big 4" brewers located in Omaha, which also included the Storz, Willow Springs and Metz breweries...
, Willow Springs and Metz
Metz Brewery
The Metz Brothers Brewing Company was among the first brewers in the U.S. state of Nebraska, having been established in the city of Omaha in 1859. It was among the earliest manufacturers in the city. After originally opening as the McCumbe Brewery, the facility was sold several times until brothers...
breweries.
Businesses
Warehousing and manufacturing operations out of Omaha from its founding through the 1920s include the Western Bridge and Construction CompanyWestern Bridge and Construction Company
The Western Bridge and Construction Company of Omaha, Nebraska was one of the foremost bridge engineering and manufacturing companies in the Midwestern United States. Several of their bridges are now listed on the National Register of Historic Places...
. Other important businesses included the Byron Reed Company
Byron Reed
Byron Reed was an American pioneer real estate businessman and local politician in Omaha, Nebraska. He founded the first real estate office in the Nebraska Territory and became the foremost agent after Nebraska achieved statehood.-Biography:Reed was born in Darien, Genesee County, New York...
and the N.P. Dodge Company
N.P. Dodge Company
The NP Dodge Company is based in Omaha, Nebraska. Established in 1855 as a small land office in Council Bluffs, Iowa, NP Dodge is now the largest full-service real estate firm in the Omaha metro area. NP Dodge Company is the oldest real estate firm in the United States.-About:Subsidiaries of the NP...
.
Stockyards and meatpacking
The meatpacking industry, built in conjunction with the Omaha Stockyards, started to grow in the 1890s, and provided financial strength to the city through the 1970s. A fierce rival of Chicago's Union Stock YardsUnion Stock Yards
The Union Stock Yard & Transit Co., or The Yards, was the meat packing district in Chicago for over a century starting in 1865. The district was operated by a group of railroad companies that acquired swampland, and turned it to a centralized processing area...
, the Omaha Stockyards were third in the nation for production by 1890. The "Big Four" meat packers during this time were Armour
Armour Packing Plant (Omaha, Nebraska)
The Armour Packing Plant was a division of Armour and Company located at South 29th and Q Streets in South Omaha, Nebraska. The plant opened in 1897 and closed in 1968. The plant included several buildings, including a remarkable red brick administrative building, and a large, tall wall which...
, Wilson
Wilson Packing Plant (Omaha, Nebraska)
The Wilson Packing Plant was a division of the Wilson and Company meatpacking company located near South 27th and Y Streets in South Omaha, Nebraska. Founded in the 1890s, it closed in 1976. It occupied the area bounded by Washington Street, South 27th Street, W Street and South 30th Street...
, Cudahy
Cudahy Packing Plant (Omaha, Nebraska)
The Cudahy Packing Plant was a division of the Cudahy Packing Company located at South 36th and O Streets in South Omaha, Nebraska. The plant was opened in 1885 and closed in 1967. The plant included more than 20 buildings that were one to six stories tall, covering five square blocks...
, and Swift
Swift Packing Plant (Omaha, Nebraska)
The Swift Packing Plant was a division of Swift and Company located at South 27th and Q Streets in South Omaha, Nebraska. The plant was opened in 1887 and closed in 1969. It covered approximately eight square blocks and consisted of several brick and stone buildings, and was located in proximity to...
. There were several breweries established throughout the city during this period. In 1947 they were second only to Chicago in worldwide ratings. Omaha overtook Chicago as the U.S.'s largest livestock
Livestock
Livestock refers to one or more domesticated animals raised in an agricultural setting to produce commodities such as food, fiber and labor. The term "livestock" as used in this article does not include poultry or farmed fish; however the inclusion of these, especially poultry, within the meaning...
market and meat packing industry
Meat packing industry
The meat packing industry handles the slaughtering, processing, packaging, and distribution of animals such as cattle, pigs, sheep and other livestock...
center in 1955, a title which it held until 1971. The 116-year-old institution closed in 1999.
Businesses
There were several small-scale meatpacking operations in Omaha during this period. Large plants in Omaha included ArmourArmour and Company
Armour & Company was an American slaughterhouse and meatpacking company founded in Chicago, Illinois, in 1867 by the Armour brothers, led by Philip Danforth Armour. By 1880, the company was Chicago's most important business and helped make the city and its Union Stock Yards the center of the...
, Cudahy
Cudahy Packing Company
Cudahy Packing Company was a U.S. meat packing company established in 1887 as the Armour-Cudahy Packing Company and incorporated in Maine in 1915. It was founded by Patrick Cudahy and his brother John Cudahy, Irish immigrants from County Kilkenny who came to Milwaukee, Wisconsin to avoid the Great...
, Swift
Swift & Company
Swift & Company is an American food procession company a wholly owned subsidiary of JBS S.A. , a Brazilian company that is the world's largest processor of fresh beef and pork, with more than US$30 billion in annual sales as of 2010. It is also the largest beef processor in Australia.Swift &...
and Morris
Morris & Company
Morris and Company, whose president was Edward Morris, was one of several meatpacking companies in Chicago, Illinois, and in South Omaha, Nebraska....
, along with several smaller companies. All together they employed over 13,000 men by the 1950s.
Transportation
The Missouri RiverMissouri River
The Missouri River flows through the central United States, and is a tributary of the Mississippi River. It is the longest river in North America and drains the third largest area, though only the thirteenth largest by discharge. The Missouri's watershed encompasses most of the American Great...
provided the initial source of revenue for young Omaha, as fur trappers such as Manuel Lisa
Manuel Lisa
Manuel Lisa, also known as Manuel de Lisa , was a Spanish-American fur trader, explorer, and United States Indian agent. He was among the founders in St. Louis of the Missouri Fur Company, an early fur trading company...
used the area
Fort Lisa (North Dakota)
The first Fort Lisa , also known as the Fort Manuel Lisa Trading Post and as Fort Manuel, was started by the notable fur trader Manuel Lisa of the Missouri Fur Company in 1809. It was located near the Gros Ventres village located between the mouth of the Little Missouri and that of the Big Knife...
to build their inland empires with local Native American tribes. As steamboat
Steamboat
A steamboat or steamship, sometimes called a steamer, is a ship in which the primary method of propulsion is steam power, typically driving propellers or paddlewheels...
s started pouring in goods manufactured in the Eastern United States
Eastern United States
The Eastern United States, the American East, or simply the East is traditionally defined as the states east of the Mississippi River. The first two tiers of states west of the Mississippi have traditionally been considered part of the West, but can be included in the East today; usually in...
, thousands of tons of goods came through the city. However, the problem of transporting materials for the growing Midwestern United States
Midwestern United States
The Midwestern United States is one of the four U.S. geographic regions defined by the United States Census Bureau, providing an official definition of the American Midwest....
needed to be addressed, which luckily opened the doorways to the city's major growth engine in its earliest years. The second period of growth in Omaha, from approximately 1865 through the 1880s, is attributed solely to the city's railroad connections
Railroads in Omaha
Railroads in Omaha, Nebraska have been integral to the growth and development of the city, the state of Nebraska, the Western United States and the entire United States...
, which drew almost all significant rail traffic from the Pacific Northwest
Pacific Northwest
The Pacific Northwest is a region in northwestern North America, bounded by the Pacific Ocean to the west and, loosely, by the Rocky Mountains on the east. Definitions of the region vary and there is no commonly agreed upon boundary, even among Pacific Northwesterners. A common concept of the...
through the area. By the 1870s, Omaha had seven major rail lines.
Major bus lines and airlines have traveled through the city for almost 100 years. Several major highways and bridges come into the city as well.
Businesspeople
Early businesspeople who were important to the growth and development of the city include a variety of bankers, investors, promoters, lawyers, and entrepreneurs. Omaha is said to have been founded by William D. BrownWilliam D. Brown
William D. Brown was the first pioneer to envision building a city where Omaha, Nebraska sits today. Many historians attribute Brown to be the founder of Omaha, although this has been disputed since the late nineteenth century. Alfred D...
, the entrepreneur behind the Lone Tree Ferry
Lone Tree Ferry
The Lone Tree Ferry, later known as the Council Bluffs and Nebraska Ferry Company, was the crossing of the Missouri River at Council Bluffs, Iowa, and Omaha, Nebraska, US, that was established in 1850 by William D. Brown...
which brought settlers across from Council Bluffs, Iowa
Council Bluffs, Iowa
Council Bluffs, known until 1852 as Kanesville, Iowathe historic starting point of the Mormon Trail and eventual northernmost anchor town of the other emigrant trailsis a city in and the county seat of Pottawattamie County, Iowa, United States and is on the east bank of the Missouri River across...
. Alfred D. Jones
Alfred D. Jones
Alfred D. Jones was a lawyer, surveyor and politician in the 1900s in the Midwestern United States. In 1846 he platted Fort Des Moines, Iowa, and in 1854 he platted Omaha, Nebraska...
was a surveyor and lawyer who first platted the city. Later the brothers Edward
Edward Creighton
Edward Creighton was a prominent pioneer businessman in early Omaha, Nebraska. The brother of John A. Creighton, the Creightons were responsible for founding many institutions that were central to the growth and development of Omaha...
and John A. Creighton
John A. Creighton
Count John A. Creighton was a pioneer businessman and philanthropist in Omaha, Nebraska who founded Creighton University...
traveled west from their native Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
planting telegraph wires along the way. Their contributions to the city's growth were innumerable, with varied backgrounds in banking, investing and philanthropy. Similarly, the Kountze family's impact on the city was immense. Augustus
Augustus Kountze
Augustus Kountze was a pioneer banker, politician, philanthropist and railroad supporter in Omaha, Nebraska, Kountze, Texas and New York City...
and his brother Herman
Herman Kountze
Herman Kountze was a powerful and influential pioneer banker in Omaha, Nebraska in the late 19th century. After organizing the Kountze Brothers Bank in 1857 as the second bank in Omaha, Herman and his brothers Augustus, Charles and Luther changed the charter in 1863, opening the First National...
founded the bank that became the First National of Nebraska
First National of Nebraska
First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, USA. The largest banking subsidiaries are First National Bank of Omaha, First National Bank Colorado, First National Bank Kansas and First National Bank South Dakota. First National of...
, which today is the largest independent bank in the U.S., and is still headquartered in Omaha. Gilbert Hitchcock
Gilbert Hitchcock
Gilbert Monell Hitchcock was a Representative and a Senator from Nebraska, and the founder of the Omaha World-Herald.-Biography:...
and Edward Rosewater
Edward Rosewater
Edward Rosewater, born Edward Rosenwasser, was a Republican Party politician and newspaper editor in Omaha, Nebraska...
were among the many influential newspaper editors in the city, founding empires that promoted, molded and drove economic development. Frederick Krug
Frederick Krug
Frederick Krug was the German-immigrant founder of the Frederick Krug Brewing Company of Omaha, Nebraska. Krug is often cited as one of the founders of Omaha...
, Frederick Metz
Frederick Metz
Frederick Metz founded and owned the Metz Brewery in Omaha, Nebraska, for forty years. He was also a two-time representative in the Nebraska Legislature, and an influential member of Omaha society.-Biography:...
and Gottlieb Storz
Gottlieb Storz
Gottlieb Storz was a pioneer entrepreneur in Omaha, Nebraska. Born in Benningen, Wurttemberg, Germany, Storz was the founder of the Storz Brewery. He was an important member of Omaha's German immigrant community, and an important businessman in Omaha history...
were all early beer
Beer
Beer is the world's most widely consumed andprobably oldest alcoholic beverage; it is the third most popular drink overall, after water and tea. It is produced by the brewing and fermentation of sugars, mainly derived from malted cereal grains, most commonly malted barley and malted wheat...
brewer
Brewing
Brewing is the production of beer through steeping a starch source in water and then fermenting with yeast. Brewing has taken place since around the 6th millennium BCE, and archeological evidence suggests that this technique was used in ancient Egypt...
s, with counterparts in the meatpacking industry included Edward Cudahy, Sr. among others.
Current economic sectors and industries
Shipping
Shipping has multiple meanings. It can be a physical process of transporting commodities and merchandise goods and cargo, by land, air, and sea. It also can describe the movement of objects by ship.Land or "ground" shipping can be by train or by truck...
, transportation and utilities
Public utility
A public utility is an organization that maintains the infrastructure for a public service . Public utilities are subject to forms of public control and regulation ranging from local community-based groups to state-wide government monopolies...
, as well as the finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
sectors. Telecommunications and architecture
Architecture
Architecture is both the process and product of planning, designing and construction. Architectural works, in the material form of buildings, are often perceived as cultural and political symbols and as works of art...
/construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
are also major influences on the local economy. The Greater Omaha Economic Development Partnership identifies the defense industry
Defense industry
The defense industry, also called the military industry, comprises government and commercial industry involved in research, development, production, and service of military materiel, equipment and facilities...
, manufacturing, and information technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
as important areas, as well.
The presence of the Strategic Air Command
Strategic Air Command
The Strategic Air Command was both a Major Command of the United States Air Force and a "specified command" of the United States Department of Defense. SAC was the operational establishment in charge of America's land-based strategic bomber aircraft and land-based intercontinental ballistic...
during the Cold War
Cold War
The Cold War was the continuing state from roughly 1946 to 1991 of political conflict, military tension, proxy wars, and economic competition between the Communist World—primarily the Soviet Union and its satellite states and allies—and the powers of the Western world, primarily the United States...
and the U.S. Strategic Command has led to a strong defense
Defense (military)
Defense has several uses in the sphere of military application.Personal defense implies measures taken by individual soldiers in protecting themselves whether by use of protective materials such as armor, or field construction of trenches or a bunker, or by using weapons that prevent the enemy...
industry. Transportation in Omaha
Transportation in Omaha
Transportation in Omaha, Nebraska includes most major modes, such as pedestrian, bicycle, automobile, bus, train and airplane. While early transportation consisted of ferries, stagecoaches, steamboats, street railroads, and railroads, the city's transportation systems have evolved to include the...
has been vital to the city's growth, with more than 144 million pounds of cargo passing through Eppley Airfield
Eppley Airfield
Eppley Airfield is a medium hub primary airport located three miles northeast of the central business district of Omaha, a city in Douglas County, Nebraska, United States. It is the largest airport in the state of Nebraska...
in 2004. The Union Pacific and several other major railroads provide freight service that is coordinated with many of the trucking companies serving the metropolitan area.
Studies also show that the Holland Foundation, which is based in Omaha, is one of the most generous philanthropic foundation
Private foundation (United States)
A private foundation is a charitable organization recognized by the US Tax Code at and section 501. It is defined by a negative definition, in other words, it is defined by what it is not...
s in the United States.
Finance and insurance
The insurance industry has also been important to the city's fiscal well-being, while its finance and real estate sectors have been less-so than the nation as a whole. The nation’s largest privately held bank, First National of NebraskaFirst National of Nebraska
First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, USA. The largest banking subsidiaries are First National Bank of Omaha, First National Bank Colorado, First National Bank Kansas and First National Bank South Dakota. First National of...
, as well as three Fortune 1000
Fortune 1000
Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. The list is of the 1000 largest American companies, ranked on revenues alone...
financial services companies: Berkshire Hathaway, Mutual of Omaha and TD Ameritrade
TD Ameritrade
TD Ameritrade is an American online broker with over 6 million U.S. customers, and many more internationally, that has grown rapidly through acquisition to become the 746th-largest US firm in 2008. TD Ameritrade Holding Corporation is the owner of TD Ameritrade Inc...
, make Omaha one of the highest density clusters of the financial sector in the country.
Telecommunications and information technology
According to NewsweekNewsweek
Newsweek is an American weekly news magazine published in New York City. It is distributed throughout the United States and internationally. It is the second-largest news weekly magazine in the U.S., having trailed Time in circulation and advertising revenue for most of its existence...
magazine, "Omaha is where the blue-collar work of the information economy is done. Phones are answered, money is counted, and data are processed. Six national fiber optic networks converge here."
The telecommunications industry has gravitated to Omaha over the last 30 years. After the U.S. government relocated the Strategic Air Command here after World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
the city became home to one of the world's most advanced and secure phone systems. Other factors in the city's success include Omaha's location in the Central Time Zone, making it more convenient to call either coast during the work day, as well as local speech patterns, described as "pure American," making it easily understood everywhere. Nebraska state regulators granted local phone companies wide latitude to deploy new services rapidly, and Omaha's Metropolitan Community College
Metropolitan Community College (Omaha)
Metropolitan Community College is a public community college with multiple campuses located throughout the Omaha, Nebraska metro area.- About :...
created telecommunications-related courses and training programs. Since the early 1980s a number of large hotel and travel reservation operations, including those for Marriott
Marriott International
Marriott International, Inc. is a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by son J.W. Marriott, Jr...
, Hyatt
Hyatt
Hyatt Hotels Corporation , is an international operator of hotels.Hyatt Center is the headquarters for Hyatt corporation...
, Radisson
Radisson Hotels
Radisson Hotels is one of the leading, full-service global hotel companies with more than 420 locations in 73 countries. The first Radisson Hotel was built in Minneapolis, Minnesota in 1909, and was named after the 17th-century French explorer Pierre-Esprit Radisson...
and Westin hotels, as well as the traffic information center for Greyhound Bus Lines have all been located in the city. After the AT&T breakup, US West
US West
U S WEST, Inc. was one of seven Regional Bell Operating Companies , created in 1983 under the Modification of Final Judgement , a case related to the antitrust breakup of AT&T...
, the phone company whose 14-state territory includes Nebraska, adopted the slogan "Dial 800 and get Omaha" to promote its services. Worldwide telecommunications company West Corporation
West Corporation
West Corporation is an American company that is a provider of outsourced services, including customer relationship management services, conference call services, privatized 911 service, automated business telephone systems , systems integration, help desks, business-to-business sales, responses...
was founded in Omaha in 1986 and is currently still headquartered there. Other nationwide companies with major call center operations located in Omaha include Paypal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
, Cox Communications
Cox Communications
Cox Communications is a privately owned subsidiary of Cox Enterprises providing digital cable television, telecommunications and wireless services in the United States...
, and Aflac
Aflac
Aflac Incorporated is the largest provider of supplemental insurance in the United States, founded in 1955 and based in Columbus, Georgia. In the United States, Aflac underwrites a wide range of insurance policies, but is perhaps more known for its payroll deduction insurance coverage, which pays...
.
Omaha was one of the first U.S. cities to develop a fiber optic network. Over the past 10 years its telecommunications foundation has expanded into a thriving information technology sector. Today the city has several educational facilities focused on information technology and telecommunications, including the University of Nebraska's Peter Kiewit Institute
Peter Kiewit Institute
The Peter Kiewit Institute is a facility in Omaha, Nebraska that houses academic programs from both the University of Nebraska-Lincoln's College of Engineering and the University of Nebraska at Omaha's College of Information Science and Technology....
, Creighton University
Creighton University
Creighton University is a private, coeducational, Jesuit, Roman Catholic university located in Omaha, Nebraska, United States. Founded by the Society of Jesus in 1878, the school is one of 28 member institutions of the Association of Jesuit Colleges and Universities. The university is accredited by...
's Joe Ricketts Center in Electronic Commerce and Database Marketing, the Creighton Institute of Information Technology Management and programs at Bellevue University
Bellevue University
Bellevue University is a private university located in Bellevue, Nebraska.-History:Creating a new college in Bellevue, Nebraska was No. 1 on the agenda for the Chamber of Commerce in June 1965. Local civic-leader and businessman Bill Brooks met with his fellow members of the chamber and lead the...
.
Companies
The largest employer in the Omaha metropolitan area is the Offutt Air Force BaseOffutt Air Force Base
Offutt Air Force Base is a U.S. Air Force installation near Omaha, and lies adjacent to Bellevue in Sarpy County, Nebraska. It is the headquarters of the U.S...
, which employs more than 10,000 military and civilian workers. Next is Alegent Health, with approximately 7,500 employees, followed by Omaha Public Schools
Omaha Public Schools
Omaha Public Schools is the largest school district in the state of Nebraska. This public school district serves a diverse community of more than 46,000 students at over 80 elementary and secondary schools in Omaha, Nebraska...
and First Data Corporation, each with approximately 7,000 employees. Other major employers include Methodist Health System, Mutual of Omaha
Mutual of Omaha
Mutual of Omaha is a Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. The company was founded in 1909 as Mutual Benefit Health and Accident Association.- History :...
, ConAgra Foods
ConAgra Foods
ConAgra Foods, Inc. is an American packaged foods company. ConAgra's products are available in supermarkets, as well as restaurants and food service establishments. Its headquarters are located in Omaha, Nebraska...
, Nebraska Health System, Odyssey Staffing, Inc., Staff Mid-America and the West Corporation
West Corporation
West Corporation is an American company that is a provider of outsourced services, including customer relationship management services, conference call services, privatized 911 service, automated business telephone systems , systems integration, help desks, business-to-business sales, responses...
.
Businesspeople
- For further information see Businesspeople in Omaha (category)
According to USA Today
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. Warren Buffett
Warren Buffett
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is widely regarded as one of the most successful investors in the world. Often introduced as "legendary investor, Warren Buffett", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is...
, nicknamed the "Oracle of Omaha", was ranked the richest person in the world in 2007richest people in the world. Other influential businesspeople in the area include Cathy Hughes
Cathy Hughes
Cathy Hughes, born Catherine Elizabeth Woods in Omaha, Nebraska on April 22, 1947, is an African-American entrepreneur, radio and television personality and business executive. Hughes founded the media company Radio One and later expanded into TV One, the company went public in 1998, making...
, owner of Radio One.
Retail
Omaha is home to five major shopping malls, Westroads MallWestroads Mall
Westroads Mall is an enclosed shopping mall with over 135 stores located in Omaha, Nebraska at the intersection of 100th and Dodge Streets. It is the largest mall in the state of Nebraska, with 14.5 million customer visits annually....
, Crossroads Mall
Crossroads Mall (Omaha)
Crossroads Mall is an enclosed shopping mall located in Omaha, Nebraska at the intersection of 72nd and Dodge Streets. Originally opened in 1960 by Omaha's local Brandeis department store, the mall has been home to several major chains, including Sears, Dillard's, Younkers and Target.-Beginnings:In...
, Oak View Mall
Oak View Mall
Oak View Mall is an enclosed shopping mall located at 3001 South 144th Street in West Omaha, Nebraska. There are 104 tenant spots on two floors of this regional mall, which was built in 1991. The mall receives more than 12,000,000 visitors annually, and features a "Kids Coliseum" play area...
, and Village Pointe, an outdoor shopping mall located in far west Omaha, which houses some of Omaha's finer national retailers such as Coach, Inc. and Apple Inc. Shadow Lake Towne Center is another large scale outdoor shopping mall located in Papillion
Papillion, Nebraska
Papillion is a city in Sarpy County in the U.S. state of Nebraska. It is a suburb to the southwest of neighboring Omaha, and is the county seat of Sarpy County. The population of Papillion was 18,894 at the 2010 census. In 2009, Papillion was named the #3 best place to live in the United States by...
, a suburb of Omaha. Several smaller scale shopping centers are located throughout the city. One Pacific Place and Regency Court Mall are upscale shopping centers in the Regency
Regency (Omaha)
Regency is a neighborhood in Omaha, Nebraska. Bound by West Dodge Road, South 96th Street, Pacific Street and Interstate 680, the development was the first major real estate development funded by Mutual of Omaha....
neighborhood. Borsheim's Fine Jewelry
Borsheim's Fine Jewelry
Borsheim's Fine Jewelry is a jewelry store in Omaha, Nebraska. The store was founded in 1870, and has been a subsidiary of Berkshire Hathaway since 1989....
62500 square feet (5,806.4 m²) store is located in Regency Court Mall. Sorensen Park Plaza, Aksarben Village, Midtown Crossing and Rockbrook Village are other major shopping centers in the Omaha area.
Nebraska Furniture Mart
Nebraska Furniture Mart
Nebraska Furniture Mart is the largest home furnishing store in North America selling Furniture, Flooring, Appliances and Electronics. NFM was founded in 1937 by Mrs. B in Omaha, Nebraska. She worked in the business until age 103. In 1983, Mrs. B sold a majority interest to Berkshire Hathaway with...
, located near Crossroads Mall on 72nd and Dodge, is the largest home furnishings store in North America.
The Target Corporation
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
entered the hypermarket
Hypermarket
In commerce, a hypermarket is a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise...
format in 1995 by opening its first SuperTarget store in Omaha.
Although Downtown Omaha
Downtown Omaha
Downtown Omaha is the central business, government and social core of the Omaha-Council Bluffs metropolitan area, and is located in Omaha, Nebraska. The boundaries are 20th Street on the west to the Missouri River on the east and the centerline of Leavenworth Street on the south to the centerline...
was once the major retail district in the city, most retail locations are now located in Midtown and West Omaha. However, the Old Market District has several local specialty shops and clothing stores and boutiques. The NoDo
Nodo
Nodo may refer to:*NASA Orbital Debris Observatory, a telescope and astronomical survey operated by NASA from 1995 to 2002*NoDo, an area of downtown Omaha, Nebraska*No-Do, late 20th century Spanish newsreels*NoDo, the first update to Windows Phone 7...
development has brought national retailers back to downtown with Urban Outfitters
Urban Outfitters
Urban Outfitters, Inc. is a publicly traded American company that owns and operates five retail brands: Urban Outfitters, Anthropologie, Free People, Terrain, and BHLDN....
and American Apparel
American Apparel
American Apparel is a clothing manufacturer in the United States. It is a vertically integrated clothing manufacturer, wholesaler, and retailer that also performs its own design, advertising, and marketing...
opening in the Slowdown
Slowdown (venue)
Slowdown is an entertainment venue located at 729 North 14 Street in NoDo, a new development near the Near North Side neighborhood in Omaha, Nebraska. A combination of a live music venue, shops, restaurants and apartments, the venue was developed by Saddle Creek Records as a direct competitor to...
development.
The neighborhoods of Benson, Dundee, and South Omaha
South Omaha, Nebraska
South Omaha, Nebraska is a former city and current district of Omaha, Nebraska. During its initial development phase the town's nickname was "The Magic City" because of the seemingly overnight growth due to the rapid development of the Union Stockyards. Annexed by the City of Omaha in 1915, the...
all have main street retail districts.
Headquarters
Omaha has five companies listed on the Fortune 500Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
list, including Berkshire Hathaway
Berkshire Hathaway
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States, that oversees and manages a number of subsidiary companies. The company averaged an annual growth in book value of 20.3% to its shareholders for the last 44 years,...
(#12), Union Pacific (#151), ConAgra Foods, Inc. (#173), Peter Kiewit and Sons, Inc. (#446) and Mutual of Omaha
Mutual of Omaha
Mutual of Omaha is a Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. The company was founded in 1909 as Mutual Benefit Health and Accident Association.- History :...
(#489). Omaha is home to the headquarters of several other major corporations, including The Gallup Organization
The Gallup Organization
The Gallup Organization, is primarily a research-based performance-management consulting company. Some of Gallup's key practice areas are - Employee Engagement, Customer Engagement and Well-Being. Gallup has over 40 offices in 27 countries. World headquarters are in Washington, D.C. Operational...
, TD Ameritrade
TD Ameritrade
TD Ameritrade is an American online broker with over 6 million U.S. customers, and many more internationally, that has grown rapidly through acquisition to become the 746th-largest US firm in 2008. TD Ameritrade Holding Corporation is the owner of TD Ameritrade Inc...
, infoUSA
InfoUSA
Infogroup, Inc., is a data, research and marketing company which offers email marketing and other marketing services. The company's corporate headquarters are located in Papillion, Nebraska. Infogroup employs approximately 3,200 people and operates in 9 countries.- History :Infogroup was formed in...
, Werner Enterprises
Werner Enterprises
Werner Enterprises, Inc. was founded in 1956 by Clarence L. Werner. It is a transportation and logistics company, headquartered in Omaha, Nebraska, United States. It ships to the USA, Canada, Mexico, Asia, Europe and South America. Werner has regional offices throughout North America, in China...
and First National Bank
First National of Nebraska
First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, USA. The largest banking subsidiaries are First National Bank of Omaha, First National Bank Colorado, First National Bank Kansas and First National Bank South Dakota. First National of...
. Many large technology firms have major operations or operational headquarters in Omaha, including First Data
First Data
First Data Corporation is an American payment processing company headquartered in Atlanta, Georgia. First Data is a provider of electronic commerce and payment solutions...
, PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
and LinkedIn
LinkedIn
LinkedIn is a business-related social networking site. Founded in December 2002 and launched in May 2003, it is mainly used for professional networking. , LinkedIn reports more than 120 million registered users in more than 200 countries and territories. The site is available in English, French,...
. The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc.
HDR, Inc.
HDR Inc. is an employee-owned architectural, engineering and consulting firm based in Omaha, Nebraska, USA. HDR has worked on projects in all 50 U.S. states and in 60 countries, including notable projects such as the Hoover Dam Bypass, TD Ameritrade Park Omaha, and the The Roslin Institute building...
, DLR Group, Inc., and Leo A. Daly Co.. The Lozier Corporation, First Data Corp, ITI Marketing Services, Omaha Steaks
Omaha Steaks
is a direct marketer of meat, food seasonings, cookbooks and pet food in the USA. Founded in 1917 as a single butcher shop in Omaha, Nebraska, Omaha Steaks is a fifth-generation, privately held family business, that is now one of America’s largest marketers of beef...
, Pamida
Pamida
Pamida is a chain of department stores with more than 175 locations in 16 Midwestern and West Central U.S. states. Pamida stores are generally located in smaller communities that range from 3,000 to 8,000 in population...
, Oriental Trading Company
Oriental Trading Company
The Oriental Trading Company is a direct marketing company for novelties, small toys, and party items. It was founded in 1932 as one of the United States' first wholesale companies. It is based in Omaha, Nebraska, and its majority owner is the Carlyle Group...
, Valmont Industries
Valmont Industries
Valmont Industries, Inc. is a large, publicly-held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting & traffic poles and steel utility poles....
, First Comp Insurance, and Godfather's Pizza
Godfather's Pizza
Godfather's Pizza is a privately owned restaurant chain headquartered in Omaha, Nebraska that operates fast casual Italian franchises. -History:...
also are based in the city.
Current urban growth
Downtown Omaha
Downtown Omaha is the central business, government and social core of the Omaha-Council Bluffs metropolitan area, and is located in Omaha, Nebraska. The boundaries are 20th Street on the west to the Missouri River on the east and the centerline of Leavenworth Street on the south to the centerline...
the Omaha World-Herald
Omaha World-Herald
The Omaha World-Herald, based in Omaha, Nebraska, is the primary daily newspaper of Nebraska, as well as portions of southwest Iowa. For decades it circulated daily throughout Nebraska, and in parts of Kansas, South Dakota, Missouri, Colorado and Wyoming. In 2008, distribution was reduced to the...
s Freedom Center, the First National Bank Tower
First National Bank Tower
The First National Bank Tower is a 634 ft , 45-story skyscraper at 1601 Dodge Street in downtown Omaha, Nebraska. Built in 2002, it is currently the tallest building in Nebraska. It was built on the site of the former Medical Arts Building which was imploded on April 2, 1999...
, the Qwest Center Omaha
Qwest Center Omaha
CenturyLink Center is an arena and convention center facility in the North Downtown neighborhood in Omaha, Nebraska. The 1.1 million ft² facility has an 18,300-seat arena, a 194,000-ft² exhibition hall and 62,000 ft² of meeting space....
and the Gallup University campus have each been identified as central to the city's revitalization efforts. WallStreet Tower Omaha
WallStreet Tower Omaha
The WallStreet Tower Omaha is a 32-story, 373 ft condomium project that will become Omaha, Nebraska's third tallest building upon completion. The building will be built on the site of the former Union Pacific headquarters, located at 14th and Dodge Street. Prices for a unit range from...
is a downtown addition that will be the third tallest building in the city when its finished. The Missouri River
Missouri River
The Missouri River flows through the central United States, and is a tributary of the Mississippi River. It is the longest river in North America and drains the third largest area, though only the thirteenth largest by discharge. The Missouri's watershed encompasses most of the American Great...
waterfront development project features a pedestrian bridge
Missouri River Pedestrian Bridge
The Bob Kerrey Pedestrian Bridge is a footbridge across the Missouri River between Council Bluffs, Iowa and Omaha, Nebraska. It opened on 28 September 2008....
between Omaha and Council Bluffs, as well as two condominium towers and an area for retail and restaurants. In the north downtown
Nodo
Nodo may refer to:*NASA Orbital Debris Observatory, a telescope and astronomical survey operated by NASA from 1995 to 2002*NoDo, an area of downtown Omaha, Nebraska*No-Do, late 20th century Spanish newsreels*NoDo, the first update to Windows Phone 7...
area redevelopment has been ongoing, with interest piquing after the recent announcement of a new downtown baseball stadium for the College World Series
College World Series
The College World Series or CWS is an annual baseball tournament held in Omaha, Nebraska that is the culmination of the NCAA Division I Baseball Championship, which determines the NCAA Division I college baseball champion. The eight teams are split into two, four-team, double-elimination brackets,...
in the area.
In West Omaha, parts of which were covered in cornfields as recently as 2002, several commercial districts and high wealth neighborhoods have developed. A mixed-use development in southwest Omaha called Coventry will be a complex of mansions, commercial development, and retail/restaurants. Projects are also under way for improving North Omaha. In the Midtown area
Midtown Omaha
Midtown is a geographic area of Omaha, Nebraska that is a culturally, socially and economically important area of the city. It is home to major research centers, national corporations, several historic districts, and a number of historic residences.-About:...
, Mutual of Omaha
Mutual of Omaha
Mutual of Omaha is a Fortune 500 mutual insurance and financial services company based in Omaha, Nebraska. The company was founded in 1909 as Mutual Benefit Health and Accident Association.- History :...
is redeveloping an area bordering 31st to 33rd streets and Dodge to Harney streets that is called Midtown Crossing at Turner Park
Midtown Crossing at Turner Park
Midtown Crossing at Turner Park is a million square-foot, seven-building, mixed-use development located in Midtown Omaha, Nebraska. Its borders are 31st to 33rd streets and Dodge to Harney streets...
Featuring condominiums, apartments and an Element Hotel, the area will also host an urban style movie theater with restaurant and bar/club included, a grocery store, restaurants, a dry cleaners, a health club and other shops and services. After renovating and expanding the public Turner Park, the development seeks to be a catalyst for further redevelopment in the area. Another mixed-use project in Midtown is situated on the site of the former Ak-Sar-Ben
Ak-Sar-Ben
Ak-Sar-Ben, or Aksarben, was an indoor arena and horse racing complex in Omaha, Nebraska. Built to fund the civic and philanthropic activities of the Knights of Ak-Sar-Ben, the thoroughbred race track was built in 1920 and the Coliseum was built in 1929...
Collesium. Aksarben Village
Aksarben Village
Aksarben Village is a new million sq ft mixed-use development located on the land of the old Ak-sar-ben coliseum and horse track in Midtown Omaha, Nebraska. There is over of space for research and business office and of retail and entertainment space. There are over 500 housing units and a 135...
will be a huge complex consisting of University of Nebraska at Omaha
University of Nebraska at Omaha
The University of Nebraska at Omaha is a four-year state university located in Omaha, Nebraska, USA. Founded in 1908 as Omaha University, the institution became the public Municipal University of Omaha in 1931. It assumed its current name in 1968 following a merger into the University...
's Aksarben Campus containing learning centers and dorms, Blue Cross and Blue Shield of NE's new Headquarters, First Data
First Data
First Data Corporation is an American payment processing company headquartered in Atlanta, Georgia. First Data is a provider of electronic commerce and payment solutions...
's Omaha offices, a neighborhood grocer, restaurants, shops, a hotel, lounges, bars and clubs, as well as a movie theater, residential areas and several other medium and small business offices.
Also, in 2009, Omaha released a new master plan for Downtown's development over the next 30 years. It divides several unique districts, The Downtown Center, North Downtown, the Entertainment district, the North and South Riverfront, the Joslyn District, The Park East/Farnam District, and the Old Market District. The Entertainment district will include the Qwest Center and the TD Ameritrade Park. Also, there is a proposed area for a several soccer or baseball fields. A large Part of the new Master Plan is the prediction of 8 new office towers in the next 30 years.
Another positive economic note for Omaha is that out of all major U.S. cites it was least affected by the 2008 economic recession.
Current poverty and economic isolation
Census data from 2000 in Douglas County show more than 7,800 families live below the poverty line, about 6.7 percent of families. The director of a statewide poverty advocacy group was quoted as saying in 2007, "In Omaha, you start talking about low-income issues, people assume you’re talking about minority issues..." As of October 2007, the city of Omaha, the 42nd largest in the country, has the fifth highest percentage of low-income African Americans in the country.See also
- Railroads in OmahaRailroads in OmahaRailroads in Omaha, Nebraska have been integral to the growth and development of the city, the state of Nebraska, the Western United States and the entire United States...
- Transportation in OmahaTransportation in OmahaTransportation in Omaha, Nebraska includes most major modes, such as pedestrian, bicycle, automobile, bus, train and airplane. While early transportation consisted of ferries, stagecoaches, steamboats, street railroads, and railroads, the city's transportation systems have evolved to include the...
- Gambling in Omaha, NebraskaGambling in Omaha, NebraskaGambling in Omaha, Nebraska has been significant throughout the city's history. From its founding in the 1850s through the 1930s, the city was known as a "wide-open" town, meaning that gambling of all sorts was accepted either openly or in closed quarters. By the mid-20th century, Omaha reportedly...
- Hotels in Omaha (category)
- Media in Omaha (category)
- Shopping malls in Omaha (category)
- Visitor attractions in Omaha (category)
External links
- Omaha-Council Bluffs Economy at a glance - US Bureau of Labor StatisticsBureau of Labor StatisticsThe Bureau of Labor Statistics is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics. The BLS is a governmental statistical agency that collects, processes, analyzes, and...