State Primed for Growth
   The Nebraska Advantage Act already is proving successful, just in its first month.
   Eighteen applications with a potential $283.2 million investment and 3,509 jobs were submitted under the investment tax and/or wage credits sections of the Nebraska Advantage Act from the time it took effect January 1 through the end of the month.
   The Nebraska Advantage package emphasizes capital investment, the creation of jobs, innovation, and provides training for workers who take those jobs.
   The Customized Job Training Advantage also experienced a flurry of activity. With $15 million available July 1, 2005, $3.49 million has been committed for 12 projects that will create 3,497 jobs for Nebraskans.
   "Nebraska Advantage improves the state's tax climate, and rewards those businesses that invest here and hire Nebraska's high quality workforce," said Richard Baier, director of the Nebraska Department of Economic Development.

The Nebraska Advantage package expanded "5-Tier" benefits system includes:    Tier 1: $1 million new investment and 10 new jobs – eligible for a refund of one-half the sales tax paid for qualified property purchases at the project, a full sliding scale wage credit of 3, 4, 5 or 6% depending on wage level, and a 3% investment tax credit.    Tier 2: $3 million new investment and 30 new jobs – sales tax refund of capital purchases at the project, the sliding scale wage credit and a 10% investment credit.    Tier 3: Jobs only tier – 30 new jobs, receives the sliding scale wage credit with no capital investment required.    Tier 4: $10 million investment and 100 new jobs – sales tax refund, jobs credit, investment credit, and a personal property tax exemption for turbine-powered aircraft, mainframe computers, agricultural product processing machinery and personal property used in a distribution facility.    Tier 5: Investment only tier – $30 million in new investment and no new jobs.

   The Nebraska Advantage package also benefits businesses with:
   • State and local sales tax exemptions of manufacturing machinery, equipment and related services
   • Research and development refundable tax credits equal to 3% of research and development expenditures
   • Microenterprise tax credit
   • Inventory tax exemptions
   Nebraska offers an array of advantages, from a high quality of life and diverse cultural heritage to a strong work ethic.
   Nebraska's low unemployment rate and status as a right-to-work state ensures equal and abundant opportunities for all workers. Additionally, the state's centralized location, low cost of living, and low energy costs help maximize efficiencies in productivity and cost savings. The state offers a clean environment where air and water quality ranks among the best.
   Nebraska's communities provide a safe environment in which to live, learn and work. Quality schools, superior health care, and a low cost of living combine to make Nebraska a desirable place to live and do business. It's no wonder Nebraska ranks among the top 10 states in the nation for livability year after year.