Nebraska on Business Facilities Online

NEBRASKA Fast Facts

• Population (2008): 1,783,432
• Largest Cities (2008): Omaha, 438,646; Lincoln, 251,624; Bellevue, 49,699; Grand Island, 45,801;
   Kearney, 30,417
• Targeted Industries: Transportation, Warehousing and Distribution Logistics, Bioscience, Tourism and Hospitality,
   Processed Foods
• Key Incentives: Nebraska Advantage Act, Investment Nebraska Act, Customized Job Training Program
• GDP (All Industry 2008): $83.2 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

NEBRASKA State Incentives

Nebraska's new incentive package, The Nebraska Advantage offers refunds of sales taxes; a full sliding scale wage credit of 3%, 4%, 5%, or 6% depending on wage level; an investment credit; personal property tax exemptions; inventory tax exemptions; R&D refundable tax credits; state and local sales tax exemptions of manufacturing machinery, equipment, and related services; and a microenterprise tax credit. The package has an expanded "5-Tier" benefits system, which includes:

• Tier 1 - $1 million new investment and 10 new jobs. The company is eligible for a refund of one-half the sales tax paid for qualified property purchases at the project, the sliding scale wage credit, and a 3% investment tax credit.
• Tier 2 - $3 million new investment and 30 new jobs. The company is eligible for a sales tax refund, the sliding scale wage credit, and a 10% investment credit.
• Tier 3 - 30 new jobs. The company is eligible for the sliding scale wage credit with no capital investment required.
• Tier 4 - $10 million investment and 100 new jobs. The company can take advantage of the sales tax refund, sliding scale wage credit, investment credit, and a personal property tax exemption for turbine-powered aircraft, mainframe computers, agricultural product processing machinery and personal property used in a distribution facility.
• Tier 5 - $30 million in new investment and no new jobs. The company can refund all sales tax on project capital purchases.

Also part of the Nebraska Advantage package, the Nebraska Rural Advantage offers investment and wage refundable credits. The program has two levels: Level One requires a $125,000 investment and two new jobs, and Level Two requires a $250,000 investment and five new jobs. Credits may be used to reduce income tax liability, refund sales tax, or as a direct refund.

The Nebraska Research and Development Advantage offers a tax credit for R&D activities equal to 3% of R&D expenditures. An important feature of this incentive is that businesses with little or no income may take advantage of the tax credit by receiving a sales tax refund or a refundable income tax credit.

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