Businesses Can Now Apply for InternNebraska
(Scottsbluff, Neb.) Gov. Dave Heineman is visiting Scottsbluff and Kearney today to highlight opportunities for Nebraska businesses to benefit from new tools to help businesses harness technology and research in expanding their workforce. The four-part Talent & Innovation Initiative was created to advance business innovation and strengthen workforce recruitment in Nebraska.
“The Talent and Innovation Initiative provides tools to help build Nebraska’s innovation economy,” Gov. Heineman said. “We are reaching out to let Nebraska communities from border to border know about the new opportunities available. We want to develop business opportunities in industries positioned for growth in Nebraska, and we want to attract new, technology-focused companies to our state.”
The Talent & Innovation Initiative was developed to enhance momentum in Nebraska’s fastest growing industries and others positioned to integrate new technologies. It increases internship opportunities for college students, promotes business innovation, invests in new sites and buildings for commercial development, and encourages investment in Nebraska’s high-tech and start-up businesses.
InternNebraska creates new internship opportunities for college and university students in partnership with Nebraska businesses, giving 500 to 750 college students an opportunity to gain job experience. It provides a 40 percent match in urban areas and a 60 percent match in rural areas for an eligible business that create up to 10 new student internship opportunities. Students must be enrolled full-time at a college or university, and be a junior or senior or be in their second year at a community college. Eligible internships must pay at least minimum wage and can range from 12 week to year-long programs. The program began June 1. Businesses creating summer internships can submit applications, as well as those planning for fall 2011 and spring 2012 internships.
Other Talent & Innovation measures include a new:
- Business Innovation fund, available starting in October, will help companies develop and introduce new technologies to their business model. It will provide competitive grants for businesses to work with Nebraska research institutions on prototype development, commercialization and applied research projects. Funding will also be available for small business and entrepreneur outreach efforts.
- Site & Building Development funding will help the state partner with local communities to provide resources that create ready-to-go industrial and commercial sites for expanding businesses. Projects can assist with demolition, new construction and rehabilitation. State funding will be focused on land and infrastructure costs with 40 percent of funding dedicated to projects outside Douglas, Lancaster and Sarpy Counties. The program will be available starting Oct. 1.
- The Angel Investment Tax Credit encourages investment in high-tech and other startup enterprises in Nebraska by providing refundable state income tax credits to qualified investors of early-stage companies. Capped at $3 million annually, the program requires a minimum investment of $25,000 for individuals and $50,000 for investment funds. Eligible businesses will have fewer than 25 employees with the majority based in Nebraska. Information will be available in August, ahead of the program’s Sept. 1 implementation.
Eligibility for some programs may be limited to companies in targeted industries, including: agricultural machinery, food processing, renewable energy, biosciences, health sciences, precision metals manufacturing, transportation-warehousing and logistics, research and development, hospitality and tourism, business management, financial services, and computer and software service providers.
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