- Employment and Investment Growth Act (LB 775) - Significant tax
credit for companies making a minimum investment of $3 million dollars and
30 new jobs.
- Employment Expansion & Investment Act (LB 270) - Tax credit
of $1,500 per new employee and $ 1,000 per $75,000 of capital investment
with a minimum of two new jobs and $75,000 investment.
- Tax Increment Financing (TIF) - The Community Redevelopment Authority
is authorized to provide financial assistance to businesses locating in designated
areas of Grand Island.
- Enterprise Zone Act (LB 725) - The Enterprise Zone Act provides
triple tax credits under LB 270 for qualifying zone businesses. Parts of
the Grand Island area are eligible for Enterprise Zone benefits, including
the Industrial Park.
- Invest Nebraska Act (LB-620) - This legislation authorizes a wage
benefit credit to new employees of approved companies. The 3 tiers are: Rural
- 25 new jobs and $10 million in new investment: Modified - 500 new jobs
and $50 million in new investment or 250 new jobs and $100 million in new
investment; Super - 500 new jobs and $200 million in new investment.
- Incentive Utility Rates (LB 828) - Gives the utility companies in
Nebraska the ability to negotiate lower rates for large business customers.
- Nebraska Redevelopment Act (LB 830) - Allows cities to declare land
within six miles of the city limits blighted, thus property taxes on the
improvements can be used to reimburse the company for land purchase and project
development.
- Local Option Municipal Economic Development Act (LB-840) - Authorizes
incorporated cities and villages to appropriate and spend local sales and
property tax revenues for certain economic development purposes.