Financing – The Nebraska Department of Economic Development can provide financial assistance (loans or grants) to qualified projects through the use of Community Development Block Grants (CDBG). There may be other state, local, or federal programs that could be accessed to support your project.
Customized Job Training – The Customized Job Training Program provides training assistance on projects that offer an opportunity for economic development in Nebraska. Use of the funds is limited to eligible companies and eligible training projects. In general, the types of companies qualifying are those engaged in activities that sell goods/services primarily to a non-Nebraska market: manufacturing, processing, warehousing, and headquarter facilities are some examples.
For more information on these and other state programs please visit http://www.neded.org/business
Many local communities may have the ability to assist with economic development project through the use of Tax Increment Financing (TIF) or through the use of local tax dollars, primarily from sales tax, to support an approved economic development program. This could provide assistance in the form of infrastructure improvements, job training, and financing.
Nebraska Public Power District’s Wholesale Economic Development Incentive Electric Rate
Nebraska Public Power District’s (NPPD’s) Board of Directors approved a new wholesale economic development rate of 2.9 cents per kilowatt hour, effective January 1, 2016. The final rate is determined by the local retail power provider and would include additional applicable expenses needed to deliver and service the customer. Preliminary estimates indicate the range could fall in the 3.7 to 5.0 cents per kilowatt hour range. Prospective or expanding industrial customers are eligible to receive the economic development rate for up to five years, IF they receive retail service from NPPD or one of NPPD’s wholesale customers AND meet the following criteria:
- have a projected new or additional electrical load of 1 megawatt or greater;
- have a minimum monthly load factor of 60 percent or greater;
- have entered into a written agreement with the state or any political subdivision to provide an economic development project pursuant to state or local law; and
- wholesale customer and end-use customer have entered into a written service agreement with NPPD.
Need Help? Contact the NPPD Economic Development Team for assistance in understanding the benefits of these programs and to help guide you through the process.