KEARNEY, NEB. (July 15, 2005) — Governor Dave Heineman was at Cash Wa in Kearney today as part of his promotional tour to convey the many benefits that the new Nebraska Advantage package offers businesses and industries, including the transportation sector.

The Nebraska Advantage package provides transportation and logistics companies that invest at least $10 million and create 100 new jobs in Nebraska with a new 10-year personal property tax exemption on machinery and equipment. In addition it also provides a sales tax refund, a jobs credit, and investment credits for qualifying businesses.

“We have a rich tradition in Nebraska as a transportation hub, from the wagon trains that once headed west to Interstate 80 of today,” Gov. Heineman said. “Study after study has shown that we should invest in the fields of transport and logistics, and the Nebraska Advantage takes advantage of a significant opportunity to grow Nebraska’s future.”

The Nebraska Advantage package was designed to create a business climate that makes Nebraska the preferred location for starting or growing a business. The long-term goals of the package are to promote growth of existing companies through job retention and new capital investments; increase the number of successful new business ventures in the state; foster the commercialization of new products and ideas; and recognize the different needs of Nebraska's varied industries.

The Nebraska Advantage package targets a wide-ranging list of businesses and industries, and provides sales tax exemptions for designated manufacturing machinery, equipment, and related services.

Gov. Heineman also signed into law $15 million for job training, providing a flexible, discretionary custom job training program to help ensure that the state’s workforce is prepared for advances in rapidly changing industries.

Other sections include the Nebraska Research and Development Advantage—tax credits equal to 3% for qualifying businesses conducting R&D activities; the Microenterprise Tax Credit Program—tax credits for businesses with five or fewer employees that make up to $10,000 new investment in economically depressed areas; the Nebraska Rural Development Advantage--refundable tax incentives for projects that create two new jobs and invest $125,000 in counties with less than 15,000 residents; and the classification of tele-workers as new employees.

Also incorporated into the structure of the Nebraska Advantage package, is the Rural Development package with the Nebraska Agriculture Innovation Advantage and Building Entrepreneurial Communities.

“Each of these components will help keep Nebraska’s economy strong through greater investment in businesses of all sizes, and in the workforce of tomorrow,” Gov. Heineman said.

The Nebraska Department of Economic Development administers the Nebraska Advantage package.

For more info contact:

Richard Baier, 402-471-3747