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Colliers index indicates return to pre-pandemic economy in Omaha area

Colliers index indicates return to pre-pandemic economy in Omaha area

As Union Pacific's CEO, Lance Fritz has had to find ways to keep the freight moving during the coronavirus pandemic as the economy nearly ground to a halt and then roared back to life.

The local office of Colliers International has updated its Omaha economic index, which signals a return to pre-pandemic economic conditions.

After six consecutive quarters below the 12-year trend line, the economic index for the metro area rose above the trend line in the second quarter of this year.

Driving the positive results were sales of existing homes, average wages, sales tax revenue and new commercial building permit values.

Colliers officials said Sarpy County's Nebraska Highway 50 corridor south of Nebraska Highway 370 represented the bulk of that commercial building activity, including Facebook data center construction. 

The index, intended to measure the economic health of seven area counties, is based on government sources and internal data.

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Reporter - Money

Cindy covers housing, commercial real estate development and more for The World-Herald. Follow her on Twitter @cgonzalez_owh. Phone: 402-444-1224.

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