Incentives
Utility Incentives
Besides offering some of the lowest electrical rates in the country, the city of Holdrege offers off-peak and off-season rates for its Industrial Rate customers.GRO Phelps County Revolving Loan Fund
Established in 2000 through a Community Development Block Grant, the GRO fund is available for qualifying businesses within Phelps County.LB 840 - Local Option Municipal Economic Development Fund
By an overwhelming vote in March of 2002, Holdrege voters approved a ½ cent sales tax to be used for economic development efforts and a YMCA facility.Community Redevelopment Authority (CRA)
Formed in 1996, the CRA is authorized to provide Tax Increment Financing (TIF) for approved projects within the blighted and substandard areas of Holdrege. All approved projects are subject to final approval by the Planning Commission and the City Council.Community Development Block Grants
Flexible fund that can provide low interest loans for fixed assets, loan guarantees for working capital, equity financing, and job training.One-Stop Business Assistance Center
Housed in the Nebraska Department of Economic Development, this office is a clearinghouse for a wide variety of information and assistance. Phone number is 1-800-426-6505.Small Business Administration
Loan guarantees and low interest asset financing. Rural Economic and Community Development Business and Industry Loans. Loan guarantees on projects from $500,000 to $10,000,000.Nebraska Investment Finance Authority
Long-term, low-interest manufacturers' loans.Nebraska Business Development Centers
Business plan assistance, market feasibility studies and business counseling are available.Nebraska Industrial Competitive Alliance
Provides technical and administrative assistance to Nebraska businesses. Field offices offering expertise in food processing, engineering, and business-related issues, are located throughout Nebraska.Customized Job Training
Combining state and federal resources, this program helps businesses offset the costs of training new employees.South Central Nebraska RC & D
Provides support for regional and individual community efforts to improve the economy.Export Assistance
Available through state and federal agencies, assistance in entering foreign markets is provided.Government Procurement
This program will help Nebraska businesses in accessing the huge market of federal and state government.Tax Advantages
No personal property tax on intangibles. No state real property tax. No sales tax on raw material used in manufacturing. No sales tax or use tax on production machinery and equipment for new or expanding industries. No sales tax on water used for manufacturing purposes. No sales or use tax on air or water pollution control equipment. No sales tax on electricity, gas, coal or fuel oil used for industrial purpose.State Taxes
Local Taxes
Sales and Use Tax - 1.5%Property Tax - calculated on:
1. Earning capacity of the property
2. Relative location
3. Desirability and functional use
4. Reproduction cost less depreciation
5. Comparison with other properties of recognized value
6. Market Value in the ordinary course of trade (greatest emphasis is placed on this factor)
7. Zoning
Holdrege location..….. $2.15 per $100 valuation
Rural location............. $1.56 per $100 valuation
