Burwell Economic Development
Incentives

Location Option Municipal Sales Tax | Revolving Loan Fund | Burwell Investment Club, L.L.C. | Nebraska Tax Incentives |

Local Incentives

Location Option Municipal Sales Tax
Legislative Bill 840 was approved by Burwell voters in 2003 and was first collected in January 2004. Proceeds from the local option municipal sales tax is a local source of revenue used for economic and industrial development projects in the area. Revenue from LB840 is expected to generate approximately $100,000 per year for 15 years. For more information contact Lynn Kratky, 308.346.5210.

Revolving Loan Fund
An established Revolving Loan Fund was developed by the Burwell Economic Development Board of Directors in 2005. Money in this fund is used solely for low-interest loans and loan guarantees. The revolving loan fund provides a blended loan at lower than market interest rates for any eligible business in the Burwell Area. While not meant to restrict the scope or flexibility of the fund, applicants are given special priority if they; create one job for each $25,000 or less in public financing assistance, provide for the expansion or enhancement of existing businesses in Burwell or its surrounding area, new business starts, businesses that in the opinion of the loan committee have unusual potential for growth, businesses that are relocating from outside Nebraska, and/or businesses that provide for important local or regional needs. A revolving loan fund committee has been established by the city to review all requests for funding. For more information contact Lynn Kratky, 308.346.5210.

Burwell Investment Club, L.L.C.
The Burwell Investment Club is a Nebraska limited liability company. Members invest their personal funds into the company monthly to accumulate capital. This organization has an objective of assisting with region wide economic development efforts including business retention, expansion, and recruitment efforts. In 2004, the Burwell Investment Club began construction on a speculative office building, which is planned to be complete in October 2005. For more information contact Terry DeGroff, 308.346.4508.

State Incentives

Nebraska Tax Incentives
The State of Nebraska has a progressive tax incentive program. Companies that invest in Nebraska’s business climate may be eligible for sales and income tax benefits.
http://business.neded.org/incentives.htm

Copyright 2005 Burwell Economic Development