A special election to revise the current Economic Development LB840 Plan is coming in August 2018.
The Cheyenne County Chamber of Commerce encourages voters to approve a ballot measure that revises the current Economic Development Plan. The current Economic Development Plan was approved by the voters in November 2016 and is effective, October 2017 to September 2027. The overall intent of the plan is to provide good paying jobs to the members of the community by encouraging companies to expand and locate in Sidney and assist business currently located in the community.
Originally approved by voters in 1997
- The plan revisions will allow the city to obtain additional funding through other options for economic development activities
- These additional funding options would include donations, grants or other state and federal funds received by the city
- These additional funds would be in addition to the $300,000 that has been in place since 1997. The $300,000 would be allocated as it is today with $50,000 going towards downtown projects, $50,000 towards the North Side and $200,000 towards overall job creation and larger projects.
- Provided over 75 downtown business with retail rental assistance, façade enhancements,signage grant or design assistance
- Installed over $340,000 in Street improvements in the North Side Neighborhood
- Created 175 new jobs, with commitment of a minimum of 100 additional jobs in the next 5 years
- This is the only tool that the State of Nebraska has allowing cities to directly utilize incentivemoney to attract new business and expand and retain existing business
- Allows municipalities to provide incentives for business location, creation, or expansion activities to meet the needs of the local community and impact the economic well-being of the community by expanding job opportunities and tax base
- Does not create a new tax. No new property tax and no increase in sales tax will be created to revise the Economic Development LB840 Plan
- If the revised plan is not approved, the plan will stay as it is today