Gov. Heineman today along with the Nebraska Department of Economic Development announced that several programs affiliated with the Talent & Innovation Initiative have taken effect. These include the Business Innovation Act, Nebraska Economic Gardening Program, and Site & Building Development Fund.
"Our vision for Nebraska's economic future is for our graduates and young professionals to have access to high-quality, high-skill careers with dynamic companies doing business in Nebraska," said Gov. Dave Heineman. "The Talent and Innovation Initiative provides tools that will help build Nebraska's Innovation economy."
The Business Innovation Act authorizes the distribution of up to $7 million in competitive grants for research, prototype development and product commercialization studies for small businesses with fewer than 25.
Authorized by the Small Business Innovation Act, The Nebraska Economic Gardening Program (NEGP) will provide grants of up to $10,000 each year to eligible Nebraska service providers and nonprofits. Preference will be given to high growth, early stage businesses with 5 -- 50 employees. These grants must be matched by the business to at least 20% of the awarded amount.
The Site & Building Development Fund will award approximately $3 million to help meet the needs for ready-to-develop commercial and industrial sites. Awards will range from $250,000 to $500,000. The state funding will initially focus on developing designated parcels of land and infrastructure as well as rehabilitating buildings that may already exist. Forty percent of the funding will be available to non-metro areas, and communities will provide matching funds. The program will also help with the demolition of dilapidated residential and industrial buildings and offer direct support to communities that have lost major employers.