Union Pacific Jobs

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Two of the state's largest tax break programs are being credited with helping to lure more than 1,000 jobs to Omaha from St. Louis.

Union Pacific Railroad announced Tuesday that the jobs will be transferred and housed at its new headquarters.

UP chairman and CEO Dick Davidson says without Nebraska tax incentives, the 1,038 jobs would not have been moved.

He says the tax breaks helped UP afford to make its headquarters even bigger than planned.

The company is expected to qualify for tax breaks under the Invest Nebraska Act and LB775.

Davidson says incentives under 775 alone would not be enough to have made it affordable to bring the jobs.

He did not have an estimate as to how much the company would receive in tax breaks.

The incentives are not given out until the company meets required job and investment levels.