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Iowa wooing Omaha-based insurer Woodmen of the World

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January 16th, 2015 by Ric Hanson

OMAHA, Neb. (AP) – Local and Nebraska officials are trying to counter Iowa efforts to lure Woodmen of the World and its 400 headquarters jobs away from Omaha. The Omaha World-Herald reports that Iowa’s courtship of Woodmen of the World Life Insurance Society began last spring, after the insurer was denied a county property tax exemption that’s still under appeal.

Woodmen’s lawyers argued that Woodmen is a fraternal benefit organization exempt from federal taxes. Douglas County lawyers say Woodmen is primarily an insurance company, citing its $1.2 billion of gross revenue in 2013.

Omaha Mayor Jean Stothert is concerned about the potential loss of hundreds of jobs and a longtime corporate citizen. Woodmen spokeswoman Jill Regester says Iowa is attractive because of its favorable business incentives and laws.