Doing Business in Nebraska
Why Pick Nebraska?
The Cornhusker State, located in the heartland of America, has long been an attractive location for new businesses, growing enterprises, and those looking to relocate. Many are attracted by the grants and tax incentives, low unemployment rate (3.4%), and large workforce (1.3M). In fact, there are over 72,500 businesses in Nebraska with an employment growth rate of 1.1%. Other indications of economic vitality include the 14.2% growth in non-residential construction and $1.3 billion invested in residential construction over the past five years. While conditions appear favorable, other important details about the business environment should be considered. To help business owners and managers, a brief overview of doing business in Nebraska is included below.
Nebraska Economic Profile
The state’s economy is comprised of newly established and mature enterprises serving several industries. The top sectors by employment include health care and social assistance, manufacturing, accommodation/food service, finance, insurance, and construction. Business ownership is diverse with 44% being women-owned businesses, 8.7% veteran-owned, and 5.3% minority-owned. In addition, Omaha and Lincoln have both been named a Top 50 City for Doing Business in North America, and Lincoln was named amongst the Top 10 Most Livable Cities. In other words, there are plenty of good reasons to do business in Nebraska.
Nebraska Business Incentives
There are several funding programs and tax incentives available to those looking to expand, make targeted investments, or relocate. The roster of programs which include funding to drive targeted industry expansion, facilitate community renewal, encourage technology development, and provide tax incentives for qualifying activities. The funding programs include the Business Retention & Expansion, Microenterprise Assistance, Nebraska Seed Investment, and Small Business Innovation Research Grant programs. There are several tax incentives available including the Renewable Chemical Production Tax Credit, ImagiNE Nebraska, and employment tax credits for hiring in disadvantaged areas.
Nebraska Business Resources
- Starting a Business in Nebraska
- Business Services Division – Nebraska Secretary of State
- Business and Corporate Filings Search
- COVID-19 Guidance Documents – Nebraska
- Small Business Administration – Omaha (NE)
- Business Valuations
- Employee Retention Tax Credit Consulting
- Virtual CFO Services
- Outsourced Payroll Solutions
Interesting Facts About Nebraska
- The world-famous canned meat, SPAM, was invented in Fremont.
- Omaha’s Henry Doorly Zoo and Aquarium is home to the largest indoor rainforest in the nation.
- Kool-Aid was also invented in the state.
- The first Arbor Day was celebrated in the state in 1872.
- The largest mammoth fossil can be seen in the Elephant Hall at the University of Nebraska State Museum.