NEBRASKA: A PRO-BUSINESS, PRO-GROWTH CLIMATE GROW YOUR OPERATIONS IN NEBRASKA Located in the heart of the heartland, Nebraska is home to a strong freemarket system. As a result, Nebraska is also home to some of America’s leading businesses and industries – from internet and computer technology, advanced manufacturing, agribusiness and business services, to insurance and banking, transportation, health care and biosciences. Over the decades, Nebraska’s business leaders, chambers of commerce and policymakers have worked hard to improve our state’s economic competitiveness and diversify our economy. In recent years, Nebraska has become recognized nationally and globally for its pro-business climate. Fueled by a dedicated and talented workforce, Nebraska boasts one of the lowest jobless rates in the United States. A strong entrepreneurial spirit resides here, as small businesses remain a key component to the state’s overall well-being. At the same time, Nebraska’s business community is bolstered with the presence of national and international headquarters of many well-known names, including several Fortune 1000 companies such as Berkshire Hathaway, Union Pacific Corporation, Peter Kiewit Sons, TD Ameritrade, West Corporation, Werner Enterprises, Valmont Industries, Green Plains Renewable Energy and Mutual of Omaha. When considering factors such as business costs, labor, regulations, legal climate, economic climate and quality of life, Nebraska has few peers. According to the national comparisons, Nebraska is extremely competitive in the areas of regulatory environment, quality of life and overall business costs – which include labor and energy. Nebraska also receives high marks for its economic development incentives.
BEST IN NATION FOR REGULATIONS It’s no wonder that experts like those at Forbes magazine and Pollina Corporate Real Estate have ranked Nebraska as one of America’s best states in which to do business. In fact, Nebraska has been in the top 10 of Forbes’ “Best States for Business” study for the past decade and was ranked third best overall in both 2015 and 2016. Of the six main categories used by Forbes, Nebraska is a top-10 performer in three of them – regulatory climate, quality of life and business costs. Most notably, the business publication ranked Nebraska No.
1 for regulatory climate, which includes labor laws, insurance coverage mandates, occupational licensing, tort system, right-towork status and business tax incentives. Unemployment insurance tax is another area in which Nebraska is a leader. The Small Business & Entrepreneurship Council in 2017 ranked Nebraska No. 5 in this important category – a key cost of doing business because employers pay 100 percent unemployment insurance costs. With the recent enactment of Chambersupported legislation (LB203) to help curb the abuse of jobless benefits, Nebraska’s low unemployment tax burden is likely to go even lower.
NEBRASKA’S BUSINESS INCENTIVES The Nebraska Chamber has worked hard to improve the state’s competitiveness. A key factor for Nebraska’s solid standing in many rankings is the Nebraska Advantage Act, the state’s primary pro-business incentives program. Since its implementation in 2006, the Nebraska Advantage Act has played a role in creating thousands of jobs and billions of dollars in capital investments. Also since 2006, Nebraska has maintained one of the
lowest jobless rates in the nation, while the state GDP has exceeded the U.S. average. It’s important to note that Nebraska’s business incentives are not just for large companies. In fact, of the 535 businesses that have applied for Nebraska Advantage incentives, approximately 75 percent had fewer than 100 employees – and many were located in rural areas. To learn more about the Nebraska Advantage Act incentives program, visit the Department of Economic Development’s site at www.opportunity.nebraska.gov. Several years ago, the Cornhusker State implemented a unique program to improve its workforce and retain its young people. The Intern Nebraska (InternNE) program – administered by the Nebraska Department of Economic Development (DED) – provides financial assistance to businesses that create new internships. Interns obtain valuable experience, while businesses develop future employees. Research shows that more than 50 percent of interns go on to become full-time employees at their place of internship, so internships help ensure that communities and businesses grow. For a description of InternNE’s rules and requirements, contact DED at (402) 4711559 or ded.InternNE@nebraska.gov or visit www.internne.com.
NEBRASKA IN CNBC’S TOP 10 5 6 10
Education Business Friendliness Quality of Life
– CNBC, July 2017 Nebraska improved in all three areas vs. CNBC’s 2016 ranking.
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