ImagiNE Nebraska Act Promises Growth

LINCOLN, Neb., Nov. 7, 2019 /PRNewswire/ -- Nebraska legislators, economic developers, community leaders, and chambers of commerce executives rallied today in support of ImagiNE Nebraska (LB720), launching a statewide Good for Nebraska (goodfornebraska.org) movement to reiterate the economic benefits of incentive programs.

ImagiNE Nebraska comes as Nebraska's current economic incentives program, the Nebraska Advantage Act, prepares to sunset in 2020. Since 1987, incentive programs have created nearly 110,000 Nebraska jobs, and sparked more than $35 billion in qualified investment for the State of Nebraska. Currently, all 50 states, as well as Guam and Puerto Rico, offer economic incentive programs.

"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).

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.

"Delivering tax relief and growing Nebraska's economy go hand in hand," said Nebraska Senator Lou Ann Linehan, Chair of the Legislature's Revenue Committee. "We can't achieve sustainable tax relief with a slowing or stagnant economy."

"The ImagiNE Nebraska Act definitely gives our communities better resources," said Bryan Slone, president, Nebraska Chamber of Commerce & Industry. Slone represented chambers of commerce across Nebraska Thursday in launching Good for Nebraska.

"We are committed to implementing a robust, future-based incentives strategy that facilitates aggressive job growth and workforce development across the state," said David G. Brown, president and CEO of the Greater Omaha Chamber. Brown also leads the State's largest economic development partnership – a seven-county region representing 44 percent of Nebraska's population.

"We can ensure a bright, dynamic future for Nebraska with strong incentives programs in place," Wendy Birdsall, president, Lincoln Chamber of Commerce, added.

Contacts
Holley Salmi, Nebraska Chamber of Commerce & Industry, [email protected]
Jill Bruckner, Greater Omaha Chamber, [email protected]

SOURCE Greater Omaha Chamber

Related Links

http://www.omahachamber.org