Local, Area & State Incentives
Atkinson's Local Option Municipal Economic Development (LB840)
The Local Option Municipal Economic Development Act (LB840, 1991) authorizes incorporated cities and villages to collect and appropriate local tax dollars — including sales and/or property tax, if approved by the local voters — for economic development purposes.
In May 2002, the citizens of Atkinson voted to adopt a one-half of 1 percent (1/2%) sales tax to fund the economic development program. Since then, the City of Atkinson has invested LB840 funds for the purpose of attracting new industries and retaining or expanding existing businesses in Atkinson.
Funds are offered to businesses in the form of low interest loans and performance-based forgivable loans (grants), based upon creation of new jobs and investment in Atkinson.
Low Interest Business Loans
New and current businesses in Atkinson have the opportunity to receive support through the City of Atkinson LB840 Program. A business may apply for a low interest business loan for 50 percent of their project, but not to exceed $50,000 over 5, 7 or 10 years.
Eligible improvements include, but are not limited to:
- Land acquisitions
- Building acquisitions
- Building renovations
- Equipment
- Business workforce training
- Working capital/inventory
Property Improvement Program
The City of Atkinson encourages private investment in primarily commercial areas of Atkinson and proposes the utilization of a Property Improvement Program to improve building facades and property lots within Atkinson.
Under the improvement program, property owners or tenants are eligible to apply for grants equal to one-half of the cost of such improvements with certain limitations or a low interest loan. These funds are provided to create a positive impact that individual renovations or demolition can have on the overall appearance and image of the community and spur area redevelopment.
Eligible improvements include, but are not limited to:
- Replacement or addition of: Awnings, signage, graphics, window display areas, exterior lighting, concrete and/or sidewalk.
- Painting (Historical in Nature)
- Restoration of original architectural features
- Other improvements which are visible from the street and have a positive impact on the appearance of the building
The proposed yearly budget for LB840 programs is allocated from the Sales Tax Fund of the City of Atkinson. Guidelines and applications for the Atkinson LB840 programs may be downloaded below.
Applications should be submitted to the Atkinson Economic Development Office, 104 S. Main St., P.O. Box 519, Atkinson, NE 68713 or emailed to info@atkinsonne.com. For more information, please call 402-925-5313.
Other Local & Area Financing & Incentives
Tax Increment Financing
Tax Increment Financing (TIF) is a public financing method that is used as a subsidy for redevelopment, infrastructure and other community-improvement projects. TIF projects may be commercial, residential, industrial or mixed use. TIF provides an avenue to attract private investment in designated redevelopment areas by enabling future increases in property taxes to pay for improvements only within that area. The City of Atkinson has been involved with TIF for many projects over the past several years, including an ethanol plant, a manufacturing firm and a motel. For more information contact the City of Atkinson at 402-925-5313 or info@atkinsonne.com.
Local Banks
The City of Atkinson has three local banks that will work closely with Atkinson Economic Development to help borrowers get started. The are:
- First Interstate Bank, 118 E. State St., Atkinson, NE 68713, 402-925-5200, www.firstinterstatebank.com
- Nebraska Bank Atkinson, 605 N. Main St., Atkinson, NE 68713, 402-925-2100, www.ne.bank
- Tri-County Bank, 807 E. Ash St., Atkinson, NE, 68713, 402-925-2856, www.tricountybank.com
Holt County Economic Development
The City of Atkinson is a member of the Holt County Economic Development (HCED). The organization offers existing and start-up businesses technical assistance, education, local grant and loan assistance, business planning, location assistance, and much more to help them thrive in Holt County. For more information visit growholt.com or contact Shelby Regan, Executive Director for HCED, at 402-336-1504 or info@growholt.com.
Central Nebraska Economic Development
The City of Atkinson is a member of the Central Nebraska Economic Development District (CNEDD). The organization assists with writing a business plan, financing, permits and much more. For more information visit https://cnedd.org/ or contact Judy Petersen, Executive Director for CNEDD, at 402-340-0106 or judy.petersen@cnedd.org.
Center for Rural Affairs
The City of Atkinson also partners with Central for Rural Affairs. The Center for Rural Affairs' mission is to establish strong rural communities, social and economic justice, environmental stewardship, and genuine opportunity for all while engaging people in decisions that affect the quality of their lives and the future of their communities. Individuals can create a business plan, research potential markets and marketing ideas, discuss management issues with experienced business specialists and apply for a small business loan. For more information visit www.cfra.org or contact Lori Schrader, loan specialist for Center for Rural Affairs, at 402-870-7070 or lori@cfra.org.
State Incentives
Nebraska Business Development Center (NBDC)
Nebraska Business Development Center (NBDC) helps Nebraska businesses grow and create new jobs through consulting and educational services to small and mid-sized businesses. Many services are free to the business owner or entrepreneur, and all are confidential and impartial.By helping build and grow successful businesses, NBDC contributes to Nebraska's high quality of life. For more information visit https://www.unomaha.edu/nebraska-business-development-center/index.php.
Nebraska Department of Economic Development
The Nebraska Department of Economic Development (NDED) is a vital resource for the community. NDED offers a wide range of financing and incentive options including:
- Nebraska Advantage - offers incentives including tax credits for businesses looking to expand or relocate. This is a multi-tiered program.
- State Trade and Expansion Program (STEP) - The STEP grant helps increase the number of small businesses that export internationally and increases export value for those already doing so.
- Business innovation Act - provides funding to help businesses develop new technologies that lead to quality job opportunities across the state.
- Intern Nebraska Grant Program - provides financial assistance to employers creating new internships in Nebraska.
- Angel Investment Tax Credit - encourages investment in high-tech and other start-up Nebraska enterprises by helping attract private funding.
- Site and Building Development Fund - creates conditions favorable to improving Nebraska's industrial readiness which furthers economic development and increases the general prosperity outlook for all Nebraska citizens
For more information visit https://opportunity.nebraska.gov/.
Northeast Nebraska Economic Development District
The Northeast Nebraska Economic Development District offers business loans to businesses including Holt County.
For more information visit https://nenedd.org/business-loans/.
SourceLink Nebraska
SourceLink Nebraska is a statewide platform where anyone can search for nonprofit, education, and government resources related to economic and community development. In other words, SourceLink Nebraska is a one-stop shop for Nebraska entrepreneurs, existing businesses, and resource partners.
In 2018, the Nebraska Business Development Center (NBDC), Nebraska Extension, and Rural Prosperity Nebraska (RPN) collaborated to bring SourceLink® framework to Nebraska.
SourceLink Nebraska establishes core infrastructure for Nebraska’s economic development ecosystem, consequently elevating transparency and increasing accessibility of resources. Likewise, SourceLink Nebraska supports economic and community development in Nebraska by enhancing coordination of services statewide. This infrastructure will help to reveal and correct regional deficits in resource availability, while promoting collaboration between resource partners.
To receive information and assistance in working with SourceLink Nebraska to create a Personal Action Plan, please click here to fill out the online form -
SourceLink Nebraska - Personal Action Plan
Nebraska Enterprise Fund
Nebraska Enterprise Fund is a statewide microenterprise intermediary and Certified Community Development Financial Institution (CDFI) providing business development services and financing to micro and small businesses across Nebraska.
The Nebraska Enterprise Fund supports underserved communities by providing micro and small businesses with access to training, technical assistance and capital. NEF serves a target market of traditionally disadvantaged small businesses, including those owned by people of color, low-income people, women and veterans.
For more information visits https://nebbiz.org/.
Small Business Resource Contacts List
Click here to download a list of North Central Nebraska small business resources.