Omaha Enjoying Renaissance

For a long time, Omaha's skyline was defined by the Woodmen building, a tower familiar to viewers of the 2002 movie About Schmidt. In late 2002, the First National Bank of Omaha added its 40-story tower.
        Now, one of the highlights of Omaha's ongoing downtown redevelopment is the 19-story, $260-million Union Pacific Center, rising to completion amidst the city's small, but growing skyline.

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        Robert W. Turner, senior vice president, corporate relations for Union Pacific Corp., says since the Union Pacific Railroad was founded in Omaha 141 years ago and the railroad is the company's largest business, it made sense to locate the company's headquarters there. That's what happened in 1998. When it came time to build a new facility to consolidate the company's office operations, Turner says Omaha was the most logical and the only city considered.
        "We had the largest number of office-type jobs already in Omaha, so from a logistics perspective, it made sense," Turner says. "The question was whether it could work economically. With a critical mass of people here and an attractive package from the state and from the city of Omaha, it was a very easy decision."
        Turner says plans call for occupancy of the new building in May 2004, but construction is ahead of schedule. About 4,000 people will work in the building.
        Turner says the City of Omaha provided the block on which the tower is being constructed and also agreed to build a city-managed and owned parking garage a block away that will be available for Union Pacific's daytime use. In exchange, the city will get ownership of the railroad company's existing headquarters building, across the street. Union Pacific will also receive state tax credits tied to job creation.
        "We are moving 600 families from St. Louis to Omaha," Turner says. "These are jobs that average about $50,000 per year, which is way above the average of jobs in Nebraska."