Nebraska

Nebraskan officials seem to be happy with their state's new tax credit program, the Nebraska Advantage. From the Lincoln Journal Star:

More companies than expected have signed up for the Nebraska Advantage program, according to Richard Baier, director of the Department of Economic Development.

The agency anticipated closer to 45 or 50 applications during this time period, according to Baier.

“And the investment is considerably higher than we expected,” he said.

“We’re pleased with the results,” the geographic mix and the mix of industry types, said Baier.

There is a nice mix of manufacturing, biotechnology, a call center and high tech, he said.

Paypal in Omaha expects to create the most jobs— almost 2,000 — of the early applicants.

The BNSF Railroad anticipates spending the most, $750 million on improvements statewide.

The nine Lincoln and one Waverly application represent a potential of almost 450 jobs and more than $153 million in investment, based on the applications.

“This is a fantastic tool, a great piece of legislation that has won the attention of site selectors across the country,” said Wendy Birdsall, president of the Lincoln Chamber of Commerce.

People who help make site elections are now talking about Nebraska as “one of the best places to do business,” she said.

Sounds good, for now. I wonder about oversight. Have these companies made legitimate promises that they can keep, or do they inflate their numbers in order to get a tax break with the thought that it is unlikely that the state will keep a close eye on their employment stats?