WEB EXCLUSIVE
Nebraska Offers New Incentives
“The Nebraska Advantage” will promote the
growth of existing companies, increase the number
of successful startup business ventures, foster commercialization
of new products, and recognize industry's needs.
Gov. Dave Heineman was joined by legislative leaders
to sign into law the new generation of benefits designed
to enhance Nebraska's competitive edge by expanding
existing businesses and attracting new opportunities
to the state. The Nebraska Advantage, LB 312 and LB
90, emphasizes job creation and training for Nebraska
workers.
"This package is essential to growing Nebraska's
economy," Gov. Heineman says. "It's important
that Nebraskans understand the hard work and cooperation
that went into this package and I want to commend
everyone involved for making the future of our state
a priority.
"It is gratifying to know that this package
addresses the needs of businesses and communities
of every size, from fledgling entrepreneurs to large
corporations and manufacturers looking to expand in
Nebraska and will provide a more equitable playing
field for our small businesses trying to compete in
the global marketplace."
The Nebraska Advantage was designed to create a business
climate that makes Nebraska the preferred location
for starting and growing a business. The long-term
goals of the package are to promote growth of existing
companies through job retention and new capital investments;
to increase the number of successful startup business
ventures in the state; foster the commercialization
of new products and ideas; and to recognize the different
needs of Nebraska's many industries.
Sen. Dave Landis, Chairman of the Legislature's Revenue
Committee and sponsor of LB 312, says, "The team
that has forged this bill hopes it represents a focused,
targeted and energetic approach to expanding economic
opportunities in Nebraska."
A new component of the incentives package is the
Nebraska Small Business Advantage, which is part of
a larger program that sets out incentives for companies
that impact communities through capital investments
ranging from $1 million to $30 million, and job creation
ranging from 10 to 100 new jobs. The first of five
tiers allows companies making a $1 million investment
and creating 10 jobs to qualify for tax credits.
Concepts originally proposed as separate legislative
bills also have been incorporated into the structure
of LB 312 and LB 90, including state and local sales
tax exemptions for the purchase of manufacturing machinery,
equipment and related services.
