|
Businesses have many options in acquiring capital for start-up, expanding, or relocating in Nebraska. In addition to the financial resources described below, community and regional industrial development corporations organized throughout the state have funds available to assist in financing small to medium sized projects, or to defray partial expenses attendant to larger industrial developments.
Community Development Block Grant (CDBG) Program
The Community Development Block Grant program provides Nebraskans appropriate, affordable and accessible housing and infrastructure; and quality jobs through financing new and expanding businesses.
More information here
The Customized Job Training Program
The Customized Job Training Program provides training assistance on projects that offer an opportunity for economic development in Nebraska. Use of the funds is limited to eligible companies and eligible training projects. In general, the types of companies qualifying are those engaged in activities that sell goods/services primarily to a non-Nebraska market: manufacturing, processing, warehousing, and headquarter facilities are some examples.
To learn more about the Customized Job Training Program, follow the link below
Department of Economic Development Programs
Nebraska Microenterprise Partnership Fund
The purpose of the Nebraska Microenterprise Development Act is to assure that micro businesses realize the full potential to create jobs, enhance entrepreneurial skills and activities, and increase low-income households' capacity to become self-sufficient; and to facilitate the development of a permanent, statewide infrastructure of microlending support organizations.
Local Option Municipal Economic Development Act
The Local Option Municipal Economic Development Act (LB 840, 1991) authorizes incorporated cities and villages to collect and appropriate local tax dollars (sales and/or property tax) if approved by the local voters, for economic development purposes. The Act involves the formulation of the local economic development program plan. The plan forms the foundation for the collection and expenditure of local tax revenues for economic development and, if the voters approve the plan, the provisions of the local plan becomes the basis under which the municipality's program operates.
Rural Enterprise Assistance Project
The Rural Enterprise Assistance Project's (REAP) Loan Programs focus on providing capital for rural Nebraska based start-up and existing businesses. REAP's loan products are coupled with business technical assistance and counseling to clients to help them prosper in their business.
Nebraska Enterprise Opportunity Network
The Nebraska Enterprise Opportunity Network (NEON) is an association of local and statewide programs which provide support to small, locally owned businesses.
Other Nebraska Resouces
Invest Nebraska Corporation
Invest Nebraska helps emerging Nebraska-based businesses identify their barriers to success through business evaluation, develop strategies to overcome the barriers, then connect with the right network of financial, educational and professional resources.
Capital Gains and Extraordinary Dividend Exclusion
Exemption from state personal income tax on capital gains realized from selling or exchanging stock of one corporation acquired by an employee with that corporation. The employee can also exclude extraordinary dividends that exceed 20% of the value of the stock for the same corporation. The corporation must do business in Nebraska for at least three years and must have a minimum of five shareholders.
Tax increment financing
Tax increment financing (TIF) in Nebraska is primarily designed to finance the public costs associated with a private development project. Essentially, the property tax increases resulting from a development are targeted to repay the public investment required by a project.
Nebraska Investment Finance Authority
The Nebraska Investment Finance Authority (NIFA) provides a broad range of financial resources for agricultural, residential, manufacturing, medical and community development endeavors, and provides technical assistance for activities related to these areas while preserving and growing the asset base used to provide these resources.
Nebraska Economic Development Corporation
The Nebraska Economic Development Corporation (NEDCO), a certified development company (CDC), is a statewide private non-profit corporation licensed by the U.S. Small Business Administration to finance small business by providing long term fixed rate financing for fixed asset projects. NEDCO's mission is to further the economic development and social welfare of Nebraska and its environs with specific emphasis on promoting and assisting the growth and development of business concerns. The principal objective is to foster increased employment opportunities and expansion of business.
Federal Resouces
U.S. Small Business Administration – Small Business Loans
The U.S. Small Business Administration (SBA) offers numerous loan programs to assist small businesses. SBA is primarily a guarantor of loans made by private and other institutions.
USDA Rural Development Nebraska
USDA Rural Development Nebraska assists Nebraskans in accessing USDA financing programs that are designed to offer: Affordable home ownership and repair opportunities; Business opportunities to build and sustain healthy economies; Financial and technical assistance to cooperative and value-added efforts across Nebraska; Safe and modern rental housing facilities; and Essential public facilities and services including Water and sewer systems, Community facilities, Telecommunications equipment and facilities.
|