Business Vision
Incentive Packages

Incentive Packages

The Grand Island Area Economic Development Corporation and its Board of Trustees will coordinate and collaborate with city, county, and state officials to tailor an incentive package to meet your business need and requirements.

Community Redevelopment Authority (CRA) Resources

The following programs can only be used in areas of the city that have been designated for redevelopment. For a map of Grand Island’s designated redevelopment areas, click here.

Tax Increment Financing (TIF)

Through this program, increased taxes on a project can be captured and after they are paid annually, the county treasurer will send the revenue to the CRA, which will use the funds to make payments on a bond issued as part of the redevelopment contract. This process takes between three and six months, depending on the project and if the city council needs to consider declaring an area blighted and substandard prior to the TIF application. The typical cost for the entire process is between $7,500 and $50,000, depending on the project. Learn more.

Micro - TIF

These are small TIF projects involving a single property. This is a simplified form of TIF, requiring a $50 fee. Single family projects are limited to final valuation of $350,00 for commercial properties, while multi-family projects are limited to $1.5 million and historic projects are limited to $10 million. Applications are available from the Nebraska Department of Economic Development but are submitted to the CRA with the City of Grand Island. Learn more.

Facade Improvement Program

This is only available for commercial properties in Areas 1-6 of the city. It requires a match of $7 for every $3 received — and the applicant must work with an architect on the design. The CRA typically has about $300,000 available each year. Applications are accepted throughout the year. Grants are available on a first-come, first-serve basis and are typically awarded in October of each year. Learn more.

Other Sources of Funding


Local Option (LB840) is the primary incentive offered by The Grand Island Area Economic Development Corporation. LB840 is a cash payment made directly to your company based on job creation and training needs for your employees. A structured payment system is established between expanding businesses and the GIAEDC. Training incentives can be paid up front to jumpstart your business, while job creation incentives are an annual payment delivered over a three-year period of time. We are also capable of structuring a low interest and/or forgivable loan to meet your business's needs.

LB840 Recipients 

Ace Machine Shop
Hornady Manufacturing
Platte Valley Industrial Park - East 
Rogue Manufacturing
Standard Iron
Case IH
Medbury Fabrication
Chief Industries
Structured Solutions
Central Community College
Bosselman Tank & Trailer
GIX Logistics #1
Borer Wholesale
Inland Truck Parts Company
Hendrix Genetics
GIX Logistics #2
Amur Equipment Finance
Zabuni Specialty Coffee Auction
Dramco Tool & Die
GIX Logistics #3
Hornady Manufacturing

PACE (Property Assessed Clean Energy) Financing

This program aids developers that are making energy efficiency improvements to new or existing buildings. Upgrades are paid over time using a property tax assessment. The City of Grand Island facilitates this process by creating the assessment. Learn more.

Railside Business Rental Assistance

This program may be used anywhere in CRA Area 1. It provides 80% of rent for up to six months. Learn more.

Community Development Block Grants (CDBG)

The city receives approximately $400,000 annually in CDBG funding each year. This is federal funding. Applications are accepted in early spring of each year. These funds are designed to provide assistance to low- to moderate-income families, as well as businesses serving those families in Grand Island. Learn more.

Community Development Block Grant (CDBG) Re-Use Funds

The CDBG Re-Use Funds provide communities and businesses with resources to address a wide range of unique community development needs. Businesses expanding and creating employment opportunities for low-to-moderate income persons may be eligible to receive CDBG Reuse Funds. These grants are currently limited to $15,000 and based on the number of jobs created or retained. Learn more via the Grand Island Area Economic Development Corporation.

Electric Utility/ Water Utility

To encourage more single-family, multi-family, and commercial/industrial development, the City of Grand Island provides incentives for building, rebuilding, and expansion. Some of these incentives are driven by the development’s location; others are available citywide.

Discounts for Primary Service

If Three-Phase Power energy is metered on the primary side (7.2 KV or above) of the service, a 3% reduction will be made in the energy billed. In addition, if the user owns and maintains all necessary transformation equipment and structures, a 5% reduction will be made in the demand billed. These discounts, however, do not apply to the minimum stated. Learn more.

Waiver of Demand Charge

For customers developing a new site, or significantly expanding an existing facility, the city’s utilities department may waive the charge on the incremental demand for the first 12 months of service. Customers developing a new site must have an anticipated load of at least 500 KW; these customers will have the entire demand charge waived for the 12-month period. Learn more.

State Incentives


The ImagiNE Nebraska package is a redesigned incentive to create a business climate that makes Nebraska the preferred location for starting and growing your business. The ImagiNE rewards businesses that invest in the state and hire Nebraskans. In this progressive, pro-business tax climate, corporate income and sales taxes are reduced or virtually eliminated.

Learn more at:

Brochure with the important details:

Sites & Buildings

Additionally, the GIAEDC has worked collectively with the Nebraska Department of Economic Development (NDED) to assist Grand Island businesses with other funding opportunities. With assistance from the NDED, the following Grand Island businesses have utilized the Nebraska Sites and Buildings Development Fund.

Chief Industries 2012
Case IH 2015
Hendrix Genetics 2017
Hornady Manufacturing  2021


Contact us to learn more!

“Grand Island provided us the ability to build and maintain professional careers, while still being present in our children's lives. That's the 'better opportunity' we found here.”
Lynda ConnerGrand Island Business Owner
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