State Senator Mark Kolterman of Seward has introduced legislation to rewrite Nebraska’s business incentives. Nebraska’s current business incentives program is set to expire next year. The “ImagiNE Nebraska Act” (LB 720), according to Kolterman, would revise and enhance Nebraska’s incentives by encouraging the creation of higher paying jobs and more investment from businesses already in Nebraska, as well as out-of-state companies.
Highlights of the new program :
Kolterman said Nebraska is at a critical point in history and that the challenges are mounting.
“We have a workforce crisis,” the senator said. “Our taxes are too high – both local and state taxes. ‘Brain drain’ has returned. We are failing to retain enough of our best and brightest.
Kolterman said the bill seeks to “make sure our children and grandchildren have ample opportunities to live and work here,” while also “ensuring a viable future for smaller communities.”
Currently, there are more than 2,000 business incentive programs offered by state governments and U.S. territories.
“Nebraska cannot afford to take a timeout on incentives or lose ground in the effort to attract more good jobs,” Kolterman said. “Just as the University of Nebraska’s football team needs four- and five-star recruits while developing its current talent, our state must continue to attract top employers while encouraging the growth of existing businesses.”
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