Business
1:49 pm
Thu March 29, 2012

Study shows $729 million economic impact from Midtown Crossing development

A new study shows Omaha’s Midtown Crossing generated more than $26 million dollars in tax revenue for the city and state over the past five years, with an overall economic impact of $729 million during that time.

Midtown Crossing is a mixed-use development, with restaurants, shopping, housing, and a theater. Midtown Crossing hired Creighton economist Ernie Goss to study the development’s economic impact on Omaha and Douglas County. The study found Midtown Crossing provided an average of 806 jobs between 2006 and 2011, and boosted property valuations by 12 percent within a block of the area.

Marketing Director Molly Skold says Midtown Crossing has also become a popular spot for Omaha’s young professionals community, who like the new restaurants and proximity to Kiewit, UNMC, and Creighton University.

Goss’ study estimates Midtown Crossing will provide 261 jobs every year between now and 2016.

On the web: Midtown Crossing