LINCOLN, NEB. (November 9, 2005)—South Sioux City will receive $503,000 in Community Development Block Grant (CDBG) funding to help Badger Holdings, LLC, open a new business incubator focused on creating technology and knowledge-based businesses. The project is expected to create 25 jobs within the first few years of operation with a projected 25 additional employees as the company expands. Funding for CDBG projects is allocated to Nebraska and awarded by Gov. Dave Heineman.

"The decision to make Nebraska the new home company headquarters shows that we are making progress in efforts to attract new jobs and companies to our state," Gov. Heineman said. "This grant will help provide the resources needed to help create additional jobs and other companies throughout the region, and I’m very pleased the state was able to partner in this effort.”

Economic impact analysis suggests that the 25 new jobs directly created by this project could lead to the creation of five more jobs in the region. Those additional indirect and induced jobs would be created in other economic sectors as a result of expenditures by the project businesses for inputs and by the new employees for consumer goods and services.

The Community Development Agency of the City of South Sioux City will use $500,000 to purchase a 101,000 square ft. building at 815 F St., and lease it to the business. The remaining $3,000 will be available to South Sioux City for administrative costs.

An additional $185,000 from Badger Holdings, LLC, and $475,000 matching funds from the Community Development Agency will go towards building improvements, as well as machinery and equipment costs.

The project is part of a program directed by the Nebraska Department of Economic Development (DED), which assists with the development of businesses and communities throughout the state. Federal funds are made available to Nebraska from the U.S. Department of Housing and Urban Development’s CDBG program.

Badger Holdings’ incubator will house a variety of companies including Value Recovery Services, LLC, a reseller and refurbisher of computing and consumer electronics products, Sabio Digital, LLC, a leading supplier of notebook PCs to system assemblers and builders, and Sabio Storage, LLC, which creates high value storage solutions for the needs of small businesses and individuals. Remodeling of the facility will include the creation of additional office space and new retail space to house a new Dakota PC Warehouse location. Operations are expected to begin in January 2006.

FOR INFORMATION, CONTACT:

Pat Langan at 800-426-6505, 402-471-3766, or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it , or Sheryl Hiatt at 402-589-0027, or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it