Omaha, Neb., Aug. 13, 2020 –Nebraska’s senators today approved Legislative Bill 1107, drawing praise from the Greater Omaha Chamber, regional CEOs and area business owners.
“Passing LB 1107 represents a huge win for our state. It keeps Nebraska competitive with other states, and continues to position us well for growth and accelerated recovery in the post-pandemic economy. This was truly a collaborative effort and I congratulate all the elected leaders in our Legislature who showed how we can come together for the greater good,” said David G. Brown, president and CEO, Greater Omaha Chamber.
Brown added “What senators and constituents quickly began calling a ‘grand compromise,’ was truly that. A spirit of altruism and collaboration contributed to today’s success.”
LB 1107 combines attributes of three former bills impacting business incentives (LB 720, the ImagiNE Act), property tax relief and UNMC’s NeXT project (a national pandemic-response center).
The combined, potential economic impact of today’s outcome is substantial. As an example, the previous incentive bill, the Nebraska Advantage Act, stimulated more than $12 billion in capital investment over 14 years and led to projects in 170 Nebraska communities.
“This is a triumph of leadership and compromise that will lead Nebraska into the future. It is the result of intentional efforts from development professionals, business leaders and policymakers,” said Tim Burke, president and CEO, OPPD, and Greater Omaha Chamber’s chairman of the board. “This is an example of what can happen when people come together and craft something that is good for all Nebraskans. There is no doubt that everyone across the state will benefit from the increased opportunity represented by the passage of LB 1107.”
That “increased opportunity” translates into increased talent attraction for the State, where Lincoln ranks No. 3, and Omaha, No. 10 in Best Cities for Young Professionals, according to a SmartAsset study that analyzed the 150 largest cities across nine metrics, including the percentage of the population between the ages of 25 and 34, the May 2020 unemployment rate, the median earnings for full-time workers and the cost of living.
About Greater Omaha
Greater Omaha is a No. 1 ranked up-and-coming-tech hotspot and Time magazine’s 2017 No. 3 Most Up-and-Coming City in America. Recognized for its “We Don’t Coast” attitude, and named America’s No. 2 Best Small City, Greater Omaha is home to more than 30 communities and nearly 1 million people, with a youthful population (more than 40 percent are age 24 or younger), low cost of living and steady economic growth that outpaces the nation. Berkshire Hathaway, Mutual of Omaha, Peter Kiewit Sons’ Inc. and Union Pacific – all Fortune 500 companies – call Greater Omaha “home.”
About the Greater Omaha Chamber
The mission of the Greater Omaha Chamber is to champion a thriving business community and a prosperous region through visionary leadership and collaboration.