Omaha, Neb, Feb. 25, 2021 – New data on the potential economic impact of COVID-19 vaccinations is being evaluated by The Greater Omaha Chamber. The review comes as chamber officials also announced continued support of Metro Omaha’s vaccine rollout.
In a January 5, 2021 press release, The World Bank reported, “The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms.”
David G. Brown, president and CEO, Greater Omaha Chamber, said, using The World Bank’s assumptions, embracing the vaccine rollout could “mean a potential of $2.2 billion in economic growth – based on pre-pandemic GDP for the Omaha CSA of $63 billion; however, that projection comes with a host of assumptions and no shortage of possible additional considerations.”
For example, when the final data is analyzed for the year, The World Bank predicts the U.S. economy will have seen a 3.6% contraction while still predicting a 3.5% increase in 2021. This activity is reflected in the “$2.2 billion” projection.
Despite challenges, Greater Omaha has remained a top-performing metro throughout the pandemic, with Visual Capitalist noting Omaha had “the highest rate of small businesses open,” in September, 2020 – a trend that put the Metro on pace to be named the No. 5 city in the nation for “Cities with the Best Work-Life Balance – 2021 Edition,” according to SmartAsset.
Additional optimism for Greater Omaha’s economy was echoed in a recent CBRE report where Omaha / Douglas County was named one of “Eleven Secondary Markets That Are Positioned to Thrive in the Next Decade.” According to the report, Omaha excelled in such location drivers as “population growth and momentum,” “fiscal impacts” and “university pipeline,” among others.
Brown noted the region’s resilience comes thanks to many factors, including reducing the spread of COVID-19 through wearing face coverings, supporting COVID-19 vaccinations and ensuring continued precautions even as coronavirus numbers are falling.
“The Greater Omaha Chamber applauds our medical and healthcare advocates, as well as our county health and human services departments and the many, many agencies working together to ensure the health of our region during this critical time,” Brown said. “We encourage employers and employees to get vaccinated and continue our region’s positive economic and workforce health.”
Greater Omaha Chamber COVID-19 Resources page
About Greater Omaha
Greater Omaha is a No. 1 ranked up-and-coming-tech hotspot, a “top 10 best place to live on a $60,000 salary” and was named America’s No. 2 Best Small City by Resonance Consultancy. Greater Omaha is home to more than 30 communities and nearly 1 million people.
About the Greater Omaha Chamber
The mission of the Greater Omaha Chamber is to champion a thriving business community and a prosperous region through visionary leadership and collaboration.