Gage County Offers Attractive Incentives & Opportunities
27 Feb 2020
Gage County, Nebraska offers attractive incentives and opportunities for businesses and developers looking to grow in a strategic Midwest location. Gage County is open for business and actively seeks to partner with businesses who are creating jobs and growing within the region. This collaborative attitude makes it easier for businesses to succeed, and is one of the reasons that Gage County is a destination for international and national corporations, in addition to homegrown businesses.
Incentives are Available in Gage County
Local businesses, and those relocating to the county, may be eligible for financial and tax incentives. These incentives range from low-cost loans to tax breaks and even cash incentives on a case-by-case basis. Local incentives include:
#1 LB840 dollars
LB840 is a program designed to fund economic development activities, that include helping businesses of all sizes. LB840 dollars are available for businesses located in Beatrice. The program is funded by a small portion of tax dollars, allowing tax revenue to be used to grow the local economy. Businesses are typically loaned out funds, but can also be awarded a grant that does not need to be paid back. Money can be used for a variety of things like purchasing equipment or expanding a property.
#2 CDBG Funds
The Community Development Block Grant (CDBG) Reuse Loan Fund is available to local businesses on negotiated loan terms. Money is tied to job creation or job retention, but that’s not all it can be used for. In 2019, Wymore received $315,000 in funding for owner-occupied housing rehabilitation projects and another $250,000 for wastewater system upgrades.
#3 USDA Funds
USDA provides a number of programs that can be used to fund rural projects. Under the Rural Economic Development Loan & Grant program, projects can utilize funding for purchasing equipment and facilities, funding start-up costs that includes working capital and real estate, and business expansion. Another program, the Community Facilities Direct Loan & Grant Program, helps recipients develop essential community facilities in rural areas. Over the last two years, this program was utilized in Gage County to identify community facilities improvement projects. Read the latest on the Growing Gage Communities project here.
#4 Tax Increment Financing (TIF)
Developers may utilize TIF funds to help pay for the redevelopment of certain areas within Beatrice. NGage can provide details about these areas and what is available on a case-by-case basis. The goal of this program is to help fund projects that will enhance areas of the community that have been lacking investment. TIF projects have been instrumental in growing existing businesses and recruiting new businesses to Beatrice.
NGage Offers Information and Support
Businesses who are interested in learning more about the incentives available in Gage County should contact NGage. By discussing a business’s goals and needs, we can suggest the best funding mechanism to help achieve those goals. This could include grant and loan funding.
In addition, NGage provides support for business planning, workforce development, and site selection. Gage County is an ideal place to locate or grow a business, both in terms of opportunities and the support available. Contact us today to learn more.