[mybookroom]

What is Omaha's economy based on? Is it a stable economy or a stagnant economy?
There was no housing bust because there was no housing boom, so the question is ... is Omaha a stagnant area or an area of growth.

AND again, what is the economy based on.
THANKS!

[mattpoulsen]

Omaha has a diverse and growing economy.

And a "boom" isn't necessarily a good thing. The booms that were witnessed in CA, Vegas, Phoenix and etc. were based on speculation. Meaning people were treating their house more like an investment than a place to live. It was not uncommon at all to see 1 year appreciation rates of 20 to 30%, which is absolutely absurd! Omaha had a healthy growth in housing based on actual demand, not based on the idea that one could quickly turn around a profit on their home.

To ask what is Omaha's economy based on is a little like asking what Denver or Chicago's economy is based on. Granted, those cities are quite a bit larger and have larger economies, but on a relative basis Omaha is quite similar. By that I mean the "size" of Omaha's economy is smaller but the diversity within the economy is similar. Omaha has companies in sectors such as financial, insurance, ag, technology, software, medical, and etc. Throw in Stratcom and several Universities in the area and Omaha has a robust and diverse economy that isn't going to tumble when one sector falters.

As a snapshot here a list of a few companies with major offices in the area: Berkshire Hathaway (headquarters), TD Ameritrade (headquarters), ConAgra (headquarters), Union Pacific (headquarters), Mutual of Omaha (headquarters), Kiewit (headquarters), Paypal, Valmont, and etc.

Here is a link with a better summary of what I just wrote:

//www.city-data.com/us-cities/T...a-Economy.html

[Jays1983]

As reluctant as I am to admit this, Matt is spot on with his assessment and description of the Omaha area economy.

[mybookroom]

Originally Posted by mattpoulsen

Omaha has a diverse and growing economy.

And a "boom" isn't necessarily a good thing. The booms that were witnessed in CA, Vegas, Phoenix and etc. were based on speculation. Meaning people were treating their house more like an investment than a place to live. It was not uncommon at all to see 1 year appreciation rates of 20 to 30%, which is absolutely absurd! Omaha had a healthy growth in housing based on actual demand, not based on the idea that one could quickly turn around a profit on their home.

To ask what is Omaha's economy based on is a little like asking what Denver or Chicago's economy is based on. Granted, those cities are quite a bit larger and have larger economies, but on a relative basis Omaha is quite similar. By that I mean the "size" of Omaha's economy is smaller but the diversity within the economy is similar. Omaha has companies in sectors such as financial, insurance, ag, technology, software, medical, and etc. Throw in Stratcom and several Universities in the area and Omaha has a robust and diverse economy that isn't going to tumble when one sector falters.

As a snapshot here a list of a few companies with major offices in the area: Berkshire Hathaway (headquarters), TD Ameritrade (headquarters), ConAgra (headquarters), Union Pacific (headquarters), Mutual of Omaha (headquarters), Kiewit (headquarters), Paypal, Valmont, and etc.

Here is a link with a better summary of what I just wrote:

//www.city-data.com/us-cities/T...a-Economy.html

I am so utterly grateful for all the information you have provided. I was so lost before this info. This is hugely helpful.

[ackmondual]

Originally Posted by Jays1983

As reluctant as I am to admit this, Matt is spot on with his assessment and description of the Omaha area economy.

I was going to say "steaks" (Omaha Steaks ftw!), but, yeah, posts like that are helpful!

[mrdrh99]

Originally Posted by ackmondual

I was going to say "steaks" (Omaha Steaks ftw!), but, yeah, posts like that are helpful!

IMHO, Omaha steaks suck....we moved here 5 years ago and it was "the" thing we had to try....My steaks from hy-vee and Bakers are better!

Omaha isn't a giant metro, don't come here expecting one, however it's a wonderful place to raise a family and make a living!!

[GraniteStater]

Originally Posted by mrdrh99

IMHO, Omaha steaks suck....we moved here 5 years ago and it was "the" thing we had to try....My steaks from hy-vee and Bakers are better!

Omaha isn't a giant metro, don't come here expecting one, however it's a wonderful place to raise a family and make a living!!

A clarification on cost of living of Omaha, Sioux Falls is up the road in South Dakota and it has no state income tax. Median household income growth there has been much faster in Sioux Falls compared to Omaha.

[SusVelo]

Originally Posted by mattpoulsen

Omaha has a diverse and growing economy.

And a "boom" isn't necessarily a good thing. The booms that were witnessed in CA, Vegas, Phoenix and etc. were based on speculation. Meaning people were treating their house more like an investment than a place to live. It was not uncommon at all to see 1 year appreciation rates of 20 to 30%, which is absolutely absurd! Omaha had a healthy growth in housing based on actual demand, not based on the idea that one could quickly turn around a profit on their home.

That's a weird way to phrase a boom. The housing went up due to demand just like anywhere. You make it sound like people can use willpower to increase the value of their home.

To ask what is Omaha's economy based on is a little like asking what Denver or Chicago's economy is based on. Granted, those cities are quite a bit larger and have larger economies, but on a relative basis Omaha is quite similar. By that I mean the "size" of Omaha's economy is smaller but the diversity within the economy is similar. Omaha has companies in sectors such as financial, insurance, ag, technology, software, medical, and etc. Throw in Stratcom and several Universities in the area and Omaha has a robust and diverse economy that isn't going to tumble when one sector falters.

As a snapshot here a list of a few companies with major offices in the area: Berkshire Hathaway (headquarters), TD Ameritrade (headquarters), ConAgra (headquarters), Union Pacific (headquarters), Mutual of Omaha (headquarters), Kiewit (headquarters), Paypal, Valmont, and etc.

ConAgra moved to Chicago.

Here is a link with a better summary of what I just wrote:

//www.city-data.com/us-cities/The-Midwest/Omaha-Economy.html