Many companies have discovered that Grand Island offers an ideal location, a quality workforce, and a positive economic environment. Our balanced economic base and vast market potential have provided a profitable home for entrepreneurial start-ups including Hornady Manufacturing and Chief Industries. Our centralized location, outstanding development resources, collaborative local government, and high-caliber workforce are but a few of our many priceless incentives. Moving to Grand Island is one of the smartest competitive moves your organization can make.
Tax Increment Financing (TIF)
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. TIF encourages private investment in blighted or deteriorating areas by allowing city governments to devote all property tax revenue increases to repay the public investment needed to attract development.
Community Development Block Grant (CDBG)
The Community Development Block Grant (CDBG) program provides Grand Island with safe, affordable and accessible housing and infrastructure, and quality jobs and investment by financing new and expanding businesses. Created under the Housing and Community Development Act of 1974, the CDBG program merged seven categorical programs into a pool of community development funds that are distributed annually according to a formula weighing population and measures of distress (poverty, age of housing, housing overcrowding, and growth lag).
Local Option (LB-840) is the primary incentive offered by The Grand Island Area Economic Development Corporation. LB-840 is a cash payment made directly to your company based upon the number of actual jobs created. This could be an up front payment, or structured as an annual payment over a period of time. We are also capable of structuring a low interest or forgivable loan. If you are considering building a new facility, we may be able to assist your company by issuing bonds.
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