Market research > 50 in 50: nebraska

50 in 50: Nebraska

At-a-glance snapshots of key market indicators in various market sectors and geographies.

PUBLISHED: 10/31/2022

50 in 50: Nebraska

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

GDP: $123.9 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 2.0% (U.S.: 1.6%)

GDP per capita: $62,849 (U.S.: $58,154)

Population: 1.9 million

Population 5-year CAGR (2017-2021): 0.6% (U.S.: 0.5%)

Unemployment: 2.2% (U.S.: 3.9%)

Economic outlook ranking: #36 out of 50

Fiscal health ranking: #7 out of 50

Overall tax climate ranking: #35 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Sector

GDP ($ billions)

% of total GDP

Agriculture, forestry, fishing and hunting

15.2

12.3%

Manufacturing

14.3

11.5%

Finance and insurance

14.0

11.3%

State and local

11.2

9.1%

Real estate and rental and leasing

11.0

8.9%

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Sector

GDP 5-year CAGR

Agriculture, forestry, fishing and hunting

18.5%

Manufacturing

6.7%

Mining, quarrying, and oil and gas extraction

4.9%

Top three metro areas by GDP:

Omaha-Council Bluffs
Lincoln
Grand Island

Top three metro areas by population percentage increase in 2021 vs. 2020:

Lincoln
Omaha-Council Bluffs
Grand Island

Infrastructure Highlights

Nebraska has identified over 85 projects for the $715 million in funding the state has been allocated thus far as part of the Bipartisan Infrastructure Law (BIL). Over half a billion has gone towards roads, bridges, transit, ports, and airports. The City of Lincoln is in the process of implementing an action plan to reduce emissions and deploy EV infrastructure. Of the $63 million made available for water projects in the state in 2022, $28 million is dedicated to lead pipe and service line replacement, and another $17 million for drinking water investments. Over the next five years, Nebraska’s BIL funds will address the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Funds

Improvement Area

$2.0 billion

Roads and highways

$358 million

Water infrastructure

$225 million

Bridges replacement and repair

$186 million

Public transportation

$111 million

Airports

$100 million

Broadband (minimum allocation)

$30 million

Electric vehicle (EV) charging network

$17 million

Wildfires protection

$13 million

Cyberattacks protection

Construction spending (Value of Construction Put in Place – CPiP):

Private Nonresidential 2021 CPiP: $2.5 billion; 2.2% 5-year CAGR (2017-2021), above overall U.S. CAGR of 1.4%
State & Local 2021 CPiP: $2.9 billion; 11.7% 5-year CAGR (2017-2021), above overall U.S. CAGR of 4.0%

AE Industry

ENR 500 firm headquarters (2022): 5

M&A activity since 2018:

9 deals with buyers from Nebraska
5 deals with sellers from Nebraska

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.

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