Work under way on Farm Credit Services building

Farm Credit Services of America is expanding its Omaha headquarters as it prepares to bring together local staff and set aside space for future expansion.

Construction of a $17 million, 77,000-square-foot office building is under way adjacent to the farm lending cooperative’s current headquarters near 120th and Q Streets.

When construction is complete in summer 2011, Farm Credit Services will move 100 employees from space currently leased near 108th and L Streets, housing about 400 employees at the central office, said Ann Finkner, senior vice president and chief administrative officer.

The new two-story building will stand alone but have a connection with the current 90,000-square-foot office.

Farm Credit Services will have room to add 100 employees, Finkner said, but there are no current plans to expand the central office staff.

Farm Credit Services is one of the region’s leading ag credit and insurance providers, serving 78,000 customers and holding assets of more than $13 billion. It serves a four-state area of Nebraska, Iowa, South Dakota and Wyoming and operates 42 retail offices.

Finkner said the cooperative is continuing to grow, although it has felt an impact from the down economy. Farm Credit Service’s profits for 2009 are expected to fall below 2008’s record total.

Sampson Construction of Omaha is the general contractor on the project. The building was designed by the Clark Enersen Partners.

When completed, the building is expected to be certified as environmental friendly, according to the U.S. Green Building Council’s LEED rating system.

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