ImagiNE Nebraska Economic Incentive Garners Support

Nebraska legislators, economic developers, community leaders, and chambers of commerce executives rallied Thursday in support of ImagiNE Nebraska (LB720), launching a statewide Good for Nebraska movement to highlight the economic benefits of incentive programs to communities of different sizes.

“Job creation, economic growth, redevelopment and talent retention are keys to a prosperous future for our communities – a vision that can be realized with the appropriate economic incentives programs in place,” Brook Aken, president of the Nebraska Economic Developers Association (NEDA).

Economic developers and community leaders from Beatrice, Chadron and Northwest Economic Development Association, Cass County, Hastings, Lincoln, North Platte and Omaha, spoke to the realities of driving business growth in communities at an open house following the news conference.

To illustrate the wide-reaching impact of economic incentives, Good for Nebraska supporters unveiled four hypothetical case studies illustrating the level of prosperity catalyzed by business growth in diverse communities, including new-to-market businesses and business-expansion projects resulting from economic incentives. For example, one new-to-market manufacturing facility can support as many as 763 related jobs statewide and boost personal income by $90.9 million annually.

“Our communities cannot afford to take a timeout on incentives and lose ground in attracting more, good-paying jobs and skilled workers,” said Nebraska State Senator Mark Kolterman, the bill’s sponsor. “My hometown is growing by 100 new jobs, thanks to competitive incentives. I hate to think of our future without them.”

ImagiNE Nebraska comes as Nebraska’s current economic incentives program, the Nebraska Advantage Act, prepares to sunset in 2020.