{"id":4818,"date":"2011-05-18T10:37:57","date_gmt":"2011-05-18T16:37:57","guid":{"rendered":"http:\/\/update.legislature.ne.gov\/?p=4818"},"modified":"2013-03-11T14:35:28","modified_gmt":"2013-03-11T20:35:28","slug":"new-economic-development-program-approved","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=4818","title":{"rendered":"New economic development program approved"},"content":{"rendered":"<p>Senators passed a measure May 18 that eliminates three existing economic development programs and replaces them with the Business Innovation Act.<\/p>\n<p>LB387, introduced by Kearney Sen. Galen Hadley at the request of the governor, requires the Department of Economic Development (DED) to establish five programs to provide financial assistance to:<\/p>\n<ul>\n<li>microenterprise entities;<\/li>\n<li>companies or individuals creating prototypes;<\/li>\n<li>programs to identify commercial products and processes;<\/li>\n<li>companies receiving federal Small Business Innovation Research grants; and<\/li>\n<li>companies using Nebraska public college and university researchers and facilities for applied research projects.<\/li>\n<\/ul>\n<p>DED also is required to establish an innovation in value-added agriculture program to support small enterprise formation in Nebraska\u2019s agricultural sector.<\/p>\n<p>All programs created by the bill will be capped at between $1 million and $3 million per year. Forty percent of financial assistance funds are reserved for economically distressed areas of the state, defined as a municipality, a county with a population of fewer than 100,000 according to the most recent census, an unincorporated area within a county or a census tract that:<\/p>\n<ul>\n<li>has an unemployment rate that exceeds the statewide average;<\/li>\n<li>has a per capita income below the statewide average; or<\/li>\n<li>had a population decrease between the two most recent federal censuses.<\/li>\n<\/ul>\n<p>The bill repeals the Agriculture and Value-Added Partnerships Act, the Microenterprise Development Act and the Building Entrepreneurial Communities Act.<\/p>\n<p>LB387 takes effect immediately and will discontinue in 2016.<\/p>\n<p>The bill passed on a 49-0 vote.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senators passed a measure May 18 that eliminates three existing economic development programs and replaces them with the Business Innovation<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[91],"class_list":["post-4818","post","type-post","status-publish","format-standard","hentry","category-banking-commerce-and-insurance","tag-sen-galen-hadley"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4818"}],"version-history":[{"count":4,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4818\/revisions"}],"predecessor-version":[{"id":4821,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/4818\/revisions\/4821"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}