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Greater Fremont Development Council

Pat Langan, Executive Director

P.O. Box 472

Fremont, NE 68026

Ofc: 402.753.8126

Cell: 402.720.2149

info@FremontEcoDev.org 

 

 


Fast Fact Image

New Economic Development Initiatives Attracting Great Interest

The year’s off to a good start with businesses filing applications for the new Talent & Innovation Initiative (TI2), passed by the Legislature last May, and other new economic development initiatives, administered through DED.
The four-part TI2 includes the InternNE program, Business Innovation Act, Site and Building Development Fund, and the Angel Investment Tax Credit.
InternNE is a partnership with Nebraska businesses to create new, quality paid internships for college and university students. To date, 169 applications have been received with 130 companies approved (38 percent from rural Nebraska) adding 381 new intern positions.
The Business Innovation Act (BIA) helps businesses develop new technologies and leverage innovation to enhance quality job opportunities in Nebraska. Included within the BIA:
The Nebraska Innovation Fund-Prototyping (pre-seed stage) provides grants up to $50,000 per project for creating a prototype of a product stemming from research and development at a business operating in Nebraska, or research at an in-state public or private college or university. So far 27 applications have been received and 12 were approved.
The Nebraska Innovation Fund-Commercialization goes one step further with seed stage investments being awarded $500,000 per project for commercialization of a prototype or process from a business or individual operating here in the state. Two applications have been received.
The Nebraska Small Business Innovation Research (“SBIR”) Initiative establishes a
financial assistance program to individuals and businesses with a principal place of business in Nebraska to support applications to the Federal SBIR Program (Phase 0) and the matching of successful applications (Phase 1 and 2) by the state of Nebraska. Currently, three businesses have applied for Phase 0 and two were approved. Phase 1’s two applicants have been approved, and three applicants were approved for Phase 2.
The Microenterprise Technical Assistance Fund provides financial packaging assistance, including resource identification and determining the programs of best fit, to grow microenterprise businesses located in Nebraska. One application has been received and approved.
The Microenterprise Lending Program (Micro-lending) encourages and supports the transfer of Nebraska-based technology and innovation in rural and urban areas of Nebraska in order to create high-growth, high technology businesses and to enhance creation of wealth and quality jobs. Three applications have been received.
The two-phase Research & Development Fund has received two applications under Phase 1, with one approved. No applications have yet been received for Phase 2 for the $2 million available.
The Site and Building Development Fund aims to increase industrial sites and buildings available for business attraction and expansion.
The Angel Investment Tax Credit encourages investment in high-tech startup Nebraska enterprises providing 35-40 percent refundable state income tax credits to qualified Nebraska investors. To date in 2012, $1.477 million in credits have been requested with $927,166 approved.
Other new economic development initiatives updates:
The Small Business Innovation Economic Gardening Program has received 13 applications and approved four.
Gallup’s Entrepreneurial Acceleration System is a mentorship program that strengthens existing, new and future small Nebraska business owners by matching them with trained and certified mentor guides. For 2012, 46 guides are certified and will assist 160 companies and 746 managers, which will impact 4,939 employees in Nebraska.
The State Small Business Credit Initiative includes the Nebraska Progress Loan Fund and Invest Nebraska Angel Sidecar Fund.
To date, the Nebraska Progress Loan Fund, which provides loans to qualifying small businesses, has received seven applications.
The Invest Nebraska Angel Sidecar Fund, providing early investment capital matching private angel fund investment in start-up businesses developing, modifying or employing new technology, has received no applications at this time.
For additional information, visit www.neded.org/business/talent-a-innovation-initiative.

News & Events




Posted on:
May 02, 2012

Category:
Business/Finance/Economy, Local/Domestic/National
Intern Nebraska Incentive Program Offers Economic Opportunity
Intern Nebraska is a win-win for students seeking valuable business experience to further shape their future careers and to keep our youth in Nebraska. Students have hands-on opportunities that help them fully experience the true operations and inner workings of their chosen career paths. ...

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Posted on:
May 01, 2012

Category:
Business/Finance/Economy, Local/Domestic/National
Bureau of Labor Statistics Report Gross Job Gains Exceed Gross Job Losses for a Sixth Straight Quarter
From June to September 2011 gross job gains from opening and expanding private sector establishments were 7.1 million, an increase of 166,000 jobs from the previous quarter, the U.S. Bureau of Labor Statistics reported today. Over this period, gross job losses from closing and contracting private sector establishments were 6.3 million, a decrease of 9,000 jobs from the...

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Posted on:
April 30, 2012

Category:
Local/Domestic/National
Fremont City Council Approves Projects to Receive Keno Funds
Eight community projects will benefit from up to $82,773 in Keno community betterment matching funds. The Fremont City Council approved the projects on Tuesday in accordance with new guidelines that were put in place in January. Keno match requests in the past were considered individually as they were received, but the new...

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Posted on:
April 29, 2012

Category:
From the Office, Local/Domestic/National, Public Announcements
Heatlh Information Technology Degree at MCC-Fremont, NE Center
Metropolitan Community College has received an extension on grant funds for its Health Information Technology program.  The one-year grant extension was approved by the Office of the National Coordinator for Health Information Technology. The grant funds 100 percent of tuition and fees for qualifying students to participate in Metro’s Health Information...

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Posted on:
April 26, 2012

Category:
Business/Finance/Economy, Local/Domestic/National
Natura Highlights Fremont, Nebraska
Did you know that Fremont is featured in Natura Pet Products’ national campaign? “See Beyond the Bag” is all about quality — not only of Natura’s manufacturing processes and natural ingredients, but also the great quality of life right here in Fremont. With the recent state approval of the former Izaak...

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Posted on:
April 25, 2012

Category:
Local/Domestic/National
State of Nebraska Awards Home Funding
APRIL 25, 2012 (LINCOLN, NEB.)—The Nebraska Department of Economic Development (DED) has awarded $239,373 HOME funding to Three Rivers Housing Development Corporation (HDC), a nonprofit Community Housing Development Corporation based in Tekamah, to undertake a Purchase/Rehab/Resale program. Five first-time homeowners earning at or below 80 percent of the median area income...

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Posted on:
April 25, 2012

Category:
Local/Domestic/National
Natura Step Closer to Expansion, Fremont, Nebraska
The city council on Tuesday officially accepted a “no further action” letter from the Nebraska Department of Environmental Quality, clearing the way for the city to sell to Natura Pet Products the 23-acre site south of Natura, and an additional 25 acres north of Natura, for future development. ...

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Posted on:
April 23, 2012

Category:
From the Office
Fremont Technology Park is Ready for Business!
The Fremont Technology Park is an 80-acre shovel-ready site that is owned by the City of Fremont. The city has done a considerable amount of infrastructure development to make the site ideal for a technology related business or data center. The site is an excellent central location just 20 minutes...

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Greater Fremont Development Council  PO Box 472,  Fremont , NE  68026  402-753-8126    info@fremontecodev.org