The 400-capacity club will be named The Slowdown, label manager Jason Kulbel said. The label will book local and nationally touring acts at the venue, which it plans to open in about a year.

Saddle Creek was founded in 1993 by Bright Eyes frontman Conor Oberst and his brother. The company made a huge impact on the emo music scene and is currently home to The Faint,Azure Ray,Cursive,Desaparecidos,Now It’s Overhead,and other artists. Label execs wanted to open a venue on the company’s namesake Saddle Creek Road but that was foiled by protests from residents.

They eventually settled on a location a few miles away in Omaha’s north downtown district, which is undergoing revitalization efforts.

“I think we finally have found the right thing for us, for our club, for our vision,” Kulbel said.

Mayor Mike Fahey, who joined Kulbel at the press conference, said he was proud of the label and its plans.

“Saddle Creek Records has helped put Omaha on the national music scene,” the mayor said.