American British Business 2006/7

ABB 2006/7 | State Profiles | Mid West region | Nebraska

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Nebraska

Nebraska is a great place to live, work, play and grow a business. We have so much going for us: a great work ethic, one of the best quality of life rankings in America, an overall cost of living that ranks below the national average, a fine educational system, some of the nation’s shortest commuting times, a strong and healthy economy, and a business-friendly atmosphere. Nebraska’s economy revolves around its agriculture industry. About 96% of the state’s land – some 46 million acres – is farm and ranch land, most of it privately-owned. Producers have taken advantage of the state’s fertile soil, abundant water, intensive cultivation, and advanced farming methods to produce record high-crop yields in recent years.

Although agriculture dominates Nebraska’s economy, more of Nebraska’s income has come from other industries in recent years. Manufacturing, which employed more than 100,000 workers in 2005, is a major employer among nonfarm industries, with most manufacturing sites located in the state’s large urban areas. In 2004, foreign-controlled companies employed 20,300 workers in Nebraska. A third of those jobs were in the manufacturing sector. Major sources of Nebraska’s foreign investment are Canada, the UK, the Netherlands, France, Japan, and Switzerland.

Foreign-controlled companies account for around 7% of total manufacturing employment in Nebraska and foreign investment is responsible for about 2.2% of the state’s total private-industry employment. Douglas, Lancaster, Hall and Platte counties employ almost 50,000 workers in manufacturing. Food processing is the leading type of manufacturing, followed by industrial machinery and electronic equipment. The service sector generates the most earnings in Nebraska. Government ranks second in earnings generated, while manufacturing is third.

The service sector also employs more workers than any other industry. Five Nebraska-based businesses are in the Fortune 500, Fortune magazine’s annual list of the largest industrial and service corporations in the US based on revenue. Many other Fortune 500 companies, including IBP and First Data Resources Inc. , have major operations in Nebraska. First Data has headquarters in Greenwood Village, Colo. and several operating units based in Omaha. Wal-Mart is Nebraska’s largest private-sector employer.

For more information, contact:
State of Nebraska Department
Of Economic Development
P.O. Box 94666 – 301 Centennial Mall South
Lincoln, NE 68509-4666
Tel: +1 402 471 3441

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