Economic Development Program (LB840)

The Economic Development Program, often referred to as LB840, is a tool that encourages and stimulates the growth of quality jobs, attracts permanent investment, broadens the tax bases, and diversifies the economic base.

In 1992, 2002, and 2012, the voters of the City of Beatrice approved an Economic Development Plan pursuant to the Local Option Municipal Economic Act (Neb. Rev. Statutes 18-2701, et seq.)

The Economic Development Program fund is administered by the Citizens’ Advisory Review Committee (CARC). Program applications are reviewed by the CARC and approved by the Beatrice City Council.

Funds can be used for a variety of purposes, including but not limited to the purchase of real estate, public works improvement, business recruitment, early childhood infrastructure, construction or rehabilitation of housing, and direct loans or grants to qualifying businesses.

Each project is considered on its own merits, but priority is given to jobs created and/or retained at or above average wage and benefits for the community.

A qualifying business obtains its main source of income from manufacturing, research and development, interstate commerce, retail trade, headquarters facilities relating to eligible activities, telecommunications, tourism, film/television production, or any other qualifying business as defined in the Local Option Municipal Economic Development Act.

The LB840 Economic Development Program may be funded from local sources of revenue, including property taxes, the City’s local option sales tax, any other general tax levied by the city, revenue generated from municipally-owned utilities, and/or grants, donations, or state and federal funds received by the City.

When the City began the Economic Development Program in 1993, ½ of 1% of sales tax dollars were used to fund the program. In 2020, those tax dollars were moved to fund property tax relief. The program is now funded through Electric Department revenues.

2021       Envision Landscapes

2021       Uhl’s Sporting Goods

2020      Warner Investments dba Valentino’s

2017       Porter Houses

2017       Midwest Housing

2015       LMRRLR, LLC dba Dawg’s Hut

2015       C&C Processing

2015       Landmark Snacks

2015       Birchwood Estates

2015       Dempsters

2015       Dempsters

2020     Purchase of 1012 N. 6^th

2018      Demolition of Grain Elevator; Contribution to Rural Workforce Housing Fund

2017      Blight & Substandard Study for Redevelopment Area #1, #7, and #8

2016      Constructed 1923 Ella; Masonry at 405 Court; Strategic Plan; Redevelopment Area #6 Study

2014      Purchased land at 3rd & Court (green space); Construction of parking lot by Carnegie Building

2013      Grant for Studying Highway 136 Relocation

2012      Blue Valley Automation Loan Guarantee Judgement

2011       Extension of utilities to Northgate (Hospital)

Contact Tobias Tempelmeyer or your City Council representative with further questions.