Momentum Propels Lincoln into Second Half of 2020
While the ongoing challenges related to COVID-19 continue across the globe, the ability to adapt to the changing economic conditions can set a city apart from its peers and help jumpstart recovery. Lincoln has weathered previous economic storms in a variety of ways, namely by keeping low unemployment numbers and also maintaining the unique characteristics that make it attractive to jobseekers and companies across the country. Despite the pandemic, the good news for Lincoln is that quality of life, low cost of living, and other inherent natural advantages continues to play in its favor and will likely provide great opportunity for business expansion.
Increased economic opportunities will exist for Lincoln and Nebraska as a result of not only the pandemic, but the ongoing commitment to workforce development, talent recruitment, and other means to augment business investment. Many businesses are re-evaluating their short- and long-term plans as they seek to limit potential disruptions to supply chains, ease their access to transportation systems and limit costs across the board as they identify opportunities to relocate existing projects or begin new ones.
Enter Lincoln, NE. Consider that, before the COVID-19 pandemic, Lincoln topped many national lists from various publications that measured economic opportunity, work-life balance, cities to raise a family, and other “best places”. Despite the pandemic, Lincoln and Nebraska are both finding themselves in the familiar spot at the top of these national lists.
For the second year in a row, Nebraska is a “Silver Shovel” recipient from Area Development magazine. The Cornhusker State was recognized once again for the number of projects started statewide, dollars invested in development projects, and the number of jobs created. Lincoln companies Kawasaki and Monolith were among the top 10 projects across the state, joining eight others that collectively brought more than 900 jobs and an investment of nearly $1.9 billion, according to the Governor’s Office.
Nebraska still remained strong on Site Selection magazine’s “Governor’s Cup” standings, ranking third in projects per capita across the country. This year’s third-place finish followed three consecutive years as the top state in the country in terms of per capita projects, so the state still remains in a very strong position.
According to WalletHub, Lincoln is the best city in the country on its survey, “Cities Whose Employment Rates Are Bouncing Back the Most.” With a 5.1% unemployment rate based on the preliminary May 2020 statistics from the Bureau of Labor, Lincoln’s steady employment picture remains a major positive for the region.
Lincoln also ranks as the 14th best city in the country in a top 30 list of the “Best Cities to Live in After the Pandemic” according to Business Insider. Unemployment rate coupled with housing affordability were key metrics that helped Lincoln land on the list.
Finally, Lincoln is also ranked as the least stressed city in the country in WalletHub’s “2020 Least & Most Stressed Cities” findings. The familiar themes of Lincoln’s quality of life, work-life balance, affordable housing and other factors contributed to Lincoln taking the claim of the least stressed city in the country. While the hard work continues and ample opportunity exists for economic prosperity during and after the pandemic, Lincoln and Nebraska continue to prove that it’s not only about working hard—it’s also about play and providing “The Good Life”.
The Chamber’s mission is to improve the lives of Lincoln residents by providing increased economic opportunity and can only be accomplished together. For more information on the Lincoln Chamber of Commerce, (www.lcoc.com) please contact Jaime Henning at firstname.lastname@example.org.