LB 840 Economic Development Fund
Local Option Economic Development Fund
The City of Oshkosh invests its Economic Development Plan funds to attract new businesses and to retain and expand existing businesses in Oshkosh and Garden County. Funding is offered to businesses in the form of low interest rate loans and performance based grants.
In 1991 the Nebraska legislature passed legislation establishing procedures for a City to adopt and implement an Economic Development Plan. Only local option sales tax or the property taxes could be used to implement the plan. Legislative Bill 840 (commonly known as LB 840) required a community vote must be held to approve both the funding mechanism and the economic development plan.
In 1995 the citizens of Oshkosh voted to adopt a one-half percent (1/2%) sales tax for 10 years to fund the economic development plan. This tax and plan were extended by a vote of the citizens in 2005 and again in 2015 for an additional ten years.
Local Economic Development Program Purpose and Use
The goal of the Oshkosh Economic Development Program is to provide jobs, above minimum wage, to the citizens of Oshkosh and Garden County. The funds from the Program will be used to encourage and assist existing local and new qualifying businesses in the creation and retention of jobs. Eligible activities under the Program include: expenses to retain and/or expand a local qualifying business; direct loans or grants to qualifying businesses for fixed assets or working capital or both; grants for public works improvements which are essential to the location or expansion of, or the provision of new services by, a qualifying business; grants or loans for job training; the purchase of real estate, options for such purchases, and the renewal or extension of such options; the provision of technical assistance to business, and the expenses for the conduct of business recruitment activities.
Application
For more information and to apply for funding contact City Hall at 308-772-3686.
The applications will be reviewed by the Economic Development Advisory Committee. The committee will review the application to see if the proposed project is an eligible activity and is in compliance with the plan. Their recommendation is forwarded to the City Council for final action.
The City of Oshkosh invests its Economic Development Plan funds to attract new businesses and to retain and expand existing businesses in Oshkosh and Garden County. Funding is offered to businesses in the form of low interest rate loans and performance based grants.
In 1991 the Nebraska legislature passed legislation establishing procedures for a City to adopt and implement an Economic Development Plan. Only local option sales tax or the property taxes could be used to implement the plan. Legislative Bill 840 (commonly known as LB 840) required a community vote must be held to approve both the funding mechanism and the economic development plan.
In 1995 the citizens of Oshkosh voted to adopt a one-half percent (1/2%) sales tax for 10 years to fund the economic development plan. This tax and plan were extended by a vote of the citizens in 2005 and again in 2015 for an additional ten years.
Local Economic Development Program Purpose and Use
The goal of the Oshkosh Economic Development Program is to provide jobs, above minimum wage, to the citizens of Oshkosh and Garden County. The funds from the Program will be used to encourage and assist existing local and new qualifying businesses in the creation and retention of jobs. Eligible activities under the Program include: expenses to retain and/or expand a local qualifying business; direct loans or grants to qualifying businesses for fixed assets or working capital or both; grants for public works improvements which are essential to the location or expansion of, or the provision of new services by, a qualifying business; grants or loans for job training; the purchase of real estate, options for such purchases, and the renewal or extension of such options; the provision of technical assistance to business, and the expenses for the conduct of business recruitment activities.
Application
For more information and to apply for funding contact City Hall at 308-772-3686.
The applications will be reviewed by the Economic Development Advisory Committee. The committee will review the application to see if the proposed project is an eligible activity and is in compliance with the plan. Their recommendation is forwarded to the City Council for final action.