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BLS & Co. periodically revises the state incentive pages to ensure our firm is providing the most current information on legislative and regulatory developments affecting available programs. Updates will be posted in the near future. In the interim, please call BLS & Co. with any questions at 609.924.9775 or reach out via email at info@BLSstrategies.com.
ImagiNE Nebraska Act: The ImagiNE program offers a menu of potential incentives for qualifying projects including wage and investment credits, sales/use tax refunds, and personal property tax exemptions. Wage and investment credits are issued one time and can be used against the company’s state tax liability including corporate income taxes, employee withholdings taxes, and sales and use taxes. Additionally, credits can be used to reimburse costs incurred for job training, recruitment, and childcare expenses. A list of the various program categories is listed below:
An additional 1% bonus may apply to the wage and investment credits if the project either locates in an extremely blighted area or if the company is a benefit corporation.
Sales Tax Exemptions: Purchases of manufacturing machinery, equipment, and related services may be entitled to exemptions from state and local sales tax.
Site & Building Development Fund: Provides funding to enhance site readiness and offset upfront development costs for eligible projects. The fund requires a 50% match and is relatively flexible for uses. Eligible activities may include land and building acquisition, building construction or rehabilitation, infrastructure development and improvements, among other things. Grants are awarded to projects based on need and impact, including jobs and investment.
Economic Opportunity Program: This program provides grant funding for projects with transportation improvement needs, either roads or rail. A matching grant requirement of 25% is required from companies, with applicants being local public entities. Grants are typically below $500,000.
Academic R&D Program: The program offers businesses in Nebraska a matching competitive grant for R&D activities done in conjunction with a Nebraska college or university. Matching requirements are based on industry. Grants are awarded in two phases. Phase I is capped at $100,00 and Phase II at $400,000. Businesses cannot apply for Phase II until Phase I is complete.
Nebraska Customized Job Training Program: This program provides employee training assistance to businesses that maintain, expand, and diversify the state’s economic base and, in the process, create quality jobs for Nebraska residents. The program provides flexible and discretionary grants ($800-$4,000) per new qualified job, depending upon wage level, and availability of funding.
Nebraska Worker Training Program: This program supports the training and upgrading of Nebraska’s current workforce. All established, for-profit Nebraska businesses that contribute to the State’s Unemployment Insurance Trust (SUIT) fund are eligible to apply for funding through the program. The participating company must commit to a minimum $1 for $1 match for the funding requested. Total matching requirement is dependent on an economic development impact report.
Last Updated: May 2023
We're on a mission to help companies of all sizes identify the best locations, secure incentives, obtain development approvals and optimize energy strategies through Location Economics®.
MycoWorks hired BLS & Co. to evaluate locations for its first commercial-scale plant.
BLS was pleased to work with MycoWorks, a producer of a biomaterial made from mycelium, on the site selection for their first commercial-scale plant. The finished product is used to make consumer products such as luxury bags, luggage, shoes and other apparel from a sustainable and renewable “leather substitute” material. After a national search for suitable locations to meet operating requirements and other siting criteria, a location was selected and announced in March 2022 in Union, South Carolina. BLS also assisted MycoWorks in the negotiation of a competitive incentives package from both Union County and the South Carolina Department of Commerce.
An existing 100k SF spec building was fitted out to the company’s operational needs, and a 30,000 SF office was added on to the building to house corporate operational functions as well as plant management. The estimated total investment is $100 million. MycoWorks officially began production in the new facility in October 2024 with plans to hire 130 employees.
As sustainability in the manufacturing process was important to the company, BLS also provided negotiation support for renewable energy purchases for the South Carolina facility, as well as Renewable Energy Credits (RECS) for another facility the client operates in California.
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