Buffalo County’s economy strong

KEARNEY, Neb. — Buffalo County continues to rank among the nation’s least economically stressed counties, and according to observers, the rating is deserved.

“It’s a fair rating. It’s because of the diversity of our industries,” said Darren Robinson, president of the Economic Development Council of Buffalo County.

Robinson was referring to what he called Kearney and Buffalo County’s “pillar” industries: agriculture, manufacturing, health care and education.

The success of those industries boosts other businesses and contributes to a stronger overall economy.

In compiling its list of least economically stressed counties, the Associated Press uses employment, foreclosure and bankruptcy rates as major factors.

The latest list, according to AP’s calculations, has Buffalo County ranked fourth nationally among least-stressed counties. Only Ward and Burleigh Counties in North Dakota and Brown County in South Dakota rank ahead of Buffalo County.

The Dakotas, Nebraska and Kansas command AP’s top 25 least-stressed counties, while states with high unemployment and foreclosure rates fill the most-stressed list.

Buffalo County’s July unemployment rate was 3.2 percent, compared with the national rate of 9.6 percent. Four percent is considered fully employed, Robinson said.

Tim Mannlein, president of Kearney’s Five Points Bank, said area banks have few or no pending foreclosures, and the bankruptcy rate at Five Points is no greater today than before the national recession began in 2008.

“We don’t have any housing foreclosures currently and don’t expect to have any,” Mannlein said. “We didn’t participate in those loose lending programs that got our country into the problems it’s in.”

He said Nebraskans tend to be conservative in their borrowing and most have kept debt manageable.

Greg Koster, manager of Kearney Implement, confirmed Robinson’s assertion about agriculture’s strength. Koster said sales at his business are strong.

“Farming is still positive. As far as retail activity for us, it’s been on pace with the last couple of years, which were good years in the ag business,” Koster said. “When I moved here in the early ’90s, I was told that ag is what makes this community go. I still believe that it’s true.”

Mannlein said recent hiring by Kearney manufacturers suggests that industry is strong, while Robinson noted construction activity as a sign of strength in Kearney’s medical community.

Investors are building a $20 million hospital while Kearney’s existing hospital, Good Samaritan, plans a $65 million surgical and intensive care addition.

Dave Glover, administrator at Kearney’s Family Practice Associates clinic, said health care is a key to Kearney/Buffalo County’s economic strength, and education also is a huge contributor.

“From an economic standpoint, health care brings a lot of people to this community for our services, and some of those people become residents,” Glover said. “Education also plays a role in recruiting people to the community.”

Development and growth depend on a strong educational system, Glover said.

“It’s a plus that Kearney has a good public school system and other schools available to parents so they have a choice. The University of Nebraska at Kearney is continuing to improve and make UNK a great option for people in the state,” he said.

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