Businesses & Developers May Qualify for Grant Funds & Financial Assistance in Pierce County, Nebraska
If you are an entrepreneur looking to start a company, a manager seeking to open a new location, or a developer looking for opportunity, you may qualify for grant funds or financial assistance in Pierce County, Nebraska. Pierce County Economic Development is highly creative, and so are our community partners. We find ways to fund businesses and development projects and will pull local and statewide resources to make it happen.
Examples of grants and financial assistance for businesses in Pierce County, Nebraska:
- $511,000 in grant funds given to the developer of four townhomes in Plainview
- $604,000 in grant funds given to the developer of three duplexes in Pierce
- $500,000 raised to fund a community daycare
- Midwest Bank formed a nonprofit to turn an old building into childcare
- LB840 funds used to purchase lots and sell them for only $1,000 each
- $1,255,000 in facade grants to improve building exteriors and conditions
- $605,00 Revolving loan fund in Plainview gives small businesses access to capital
- $23,000 in grants was given to business owners during the COVID-19 pandemic
- USDA grant funds the city uses to lend money to businesses
Nebraska State Incentives
Rural Development Advantage
Provides qualified businesses with refundable tax incentives for projects that create two new jobs and invest $125,000 in counties with less than 15,000 residents. Tele-workers count as new employees. In addition, $250,000-investment and five-job thresholds remain in place for counties with populations of 15,000–25,000.
Nebraska Customized Job Training Advantage
Provides a flexible and discretionary job training program with grants from $800 to $4,000 per qualified new job. Additional grant funds may be available for new jobs created in rural and high-poverty areas. You can design your own training, or a statewide training team can assist with training needs and assessments, training plans, curriculum development, and training instruction.
Nebraska Advantage Research and Development Credit
Offers a refundable tax credit for qualified research and development activities undertaken by a business entity for 21 years. The credit is equal to 15% of the federal credit allowed under Section 41 of the Internal Revenue Code of 1986 for research and development. The credit is increased to 35% of the federal credit allowed under Section 41 of the Internal Revenue Code of 1986 for expenditures on the campus of a college or university in Nebraska or a facility owned by a college or university in Nebraska.
Nebraska Advantage Microenterprise Tax Credit
Provides a 20% refundable tax credit to microbusinesses on increased compensation for employees or increased investment in targeted communities. Applicants may qualify for a maximum of $10,000 throughout the life of the program. The credit is limited to companies with five or fewer employees at the time the application is filed, including start-ups. Credits are approved on a first-in-first-out basis through an application process with the Nebraska Department of Revenue. The credits are earned on increased expenditures for wages, buildings, certain expenses, and non-vehicle depreciable personal property.
Community Development Block Grant (CDBG)
Designed to create quality jobs and promote new investment, CDBG funds must be used to benefit low- to moderate-income persons, aid in the prevention or elimination of slums or blight, or meet other community development emergency needs. CDBG funds can be used to purchase machinery, equipment, and inventory, meet working capital needs, develop community infrastructure, construct or renovate existing buildings, and purchase real estate.
Capital Gains and Extraordinary Dividend Exclusion
Exemption from state personal income tax on capital gains realized from selling or exchanging stock of one corporation acquired by an employee with that corporation. The employee can also exclude extraordinary dividends that exceed 20% of the value of the stock for the same corporation. The corporation must have done business in Nebraska for at least three years and must have a minimum of five shareholders, and related shareholders cannot own more than 90% of the stock.
State and Local Sales Tax Exemptions of Manufacturing Machinery, Equipment, and Related Services
Manufacturing machinery and equipment is defined to include: equipment for transporting raw materials or components; molds and dies for forming cast or injected products or its packaging materials; machinery to maintain the integrity of the product or environmental conditions; testing equipment for quality control; computers that control a manufacturing process; machinery used to produce steam, electricity, catalysts, and solutions; repair or replacement parts; and all installation, repair, and maintenance service performed on such equipment.