February 3, 2017—Effective today, a 120-day application period begins for the Nebraska Enterprise Zone Act. The Nebraska Department of Economic Development (DED) will accept applications through June 2, 2017, from Nebraska villages, cities, counties, or tribal government areas interested in having an eligible area within the jurisdiction considered for Enterprise Zone designation.
Enterprise Zones are areas of “economic distress” with relatively high unemployment, poverty, and declining population as prioritized from most to least significant. Three of these zones already exist in Nebraska, including South Sioux City, Nebraska City, and Omaha.
The Department will designate up to two new areas as Enterprise Zones defined as no more than one being located inside the boundaries of a metropolitan class city; no more than one being located inside the boundaries of a primary class city; each being located within a single county; each with a population no less than 250; and each with an area measuring between one and 16 square miles.
Applications must include: A description of the geographic location along with a map depicting the proposed zone; a development plan for the proposed Enterprise Zone that includes goals and objectives, and descriptions of current and prospective actions to encourage private investment in the area; a plan outlining available resources to assist residents with self-help development; a description of any projected positive or negative effects of designation as an Enterprise Zone; a plan that assists persons or businesses displaced due to Zone activity; documentation of funding commitments from a city, local political subdivisions, private nongovernmental organizations, or any other non-state government organizations that will directly or indirectly help businesses to locate or expand existing operations within the proposed Enterprise Zone area during its first three years of its existence (if designated an Enterprise Zone by the Department); and documentation all procedural requirements for Enterprise Zone applicants are completed.