BUSINESS EXTERIOR ENHANCEMENT PROGRAM (BEEP)
Ravenna Economic Development Corporation offers a 50% matching grant up to $2,500 for businesses and building owners to enhance the façade of their buildings. CLICK HERE to download application packet or stop by the REDC Office at 318 Grand Avenue.
The Intern Nebraska (InternNE) program connects college students and employers from across the state, providing a unique opportunity for them to co-invest in the future. Interns gain valuable business experience that will help them in future careers, while successful internships help businesses develop tomorrow’s leaders. Internships create lasting connections between students and the region; more than 50% of interns become full-time employees at their place of internship, according to the National Association of Colleges and Employers. CLICK HERE for more information.
Local Option Municipal Economic Development Act
The Local Option Municipal Economic Development Act (LB 840) was approved by Ravenna voters in 2011 to create our sales tax program for economic development, a financing tool to fund existing business needs, the development of new business start-ups and economic development site improvements. Currently, Ravenna Economic Development Corporation is developing a framework of programs and procedures to make these funds available for local economic development. Please contact Ravenna Economic Development Corporation at firstname.lastname@example.org or call Trevor Lee at (308) 452-3133.
TAX INCREMENT FINANCING (TIF)
The City of Ravenna has the ability to use TIF in order to assist new or expanding businesses. For more information, contact the City of Ravenna at (308) 452-3273 for details.
MICROENTERPRISE TAX CREDIT (website)
The Microenterprise Act provides persons actively involved in microbusinesses a refundable individual income tax credit based on demonstrated growth of their business over two tax years. The Microenterprise Act has $2 million available for each calendar year through December 31, 2015 to provide tax credits to applicants for creating or expanding microbusinesses. The total lifetime tax credits claimed by any one taxpayer and any related person(s) are limited to $10,000. An individual may file another Microenterprise Application after the first two year application period has ended. The individual may claim no more than the difference between the $10,000 lifetime limit and the pending amount previously requested. Details on the program can be found at the Nebraska Department of Revenue here.
RURAL ENTERPRISE ASSISTANCE PROJECT (REAP) (website)
REAP is a rural microenterprise lending organization created by the Center for Rural Affairs. A microenterprise is a business with fewer than five employees. Through REAP you 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. Started in 1990, REAP has provided business development services to over 10,000 micro businesses. REAP has placed over $5 million in loans and leveraged over $11 million in additional funds from other sources due to our assistance.
Nebraska Advantage was designed to create a favorable business climate that makes Nebraska the preferred location for starting and growing your business. In this progressive, pro-business tax climate, corporate income and sales taxes are reduced or virtually eliminated. For details on Nebraska Advantage, contact the Nebraska Department of Economic Development at (800) 426-6505. Click here to download a .pdf of the Nebraska Advantage brochure.
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