Banking Commerce and Insurance

Commercial development study passed

Lawmakers approved a measure March 28 intended to promote the development of mega sites — large areas of land with infrastructure in place meant to draw commercial and industrial projects to the state.

Sen. Mike McDonnell
Sen. Mike McDonnell

LB644, sponsored by Omaha Sen. Mike McDonnell, appropriates $500,000 from the Site and Building Development Fund in fiscal year 2024-25 to the state Department of Economic Development to fund a comprehensive evaluation of potential mega sites.

The study must be completed by Dec. 15, 2024, and at least one potential site must be located west of the 100th meridian, which passes through the state at Cozad.

The DED director also is required to create an advisory committee, made up of representatives of economic development organizations from each of the state’s three congressional districts, to assist the department in identifying potential mega site locations.

LB644 passed on a vote of 42-1 and took effect immediately.

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