Local Incentives
City Sales Tax - LB840 was approved by Loup City voters in 2007. Proceeds from the sales tax will be used solely for low-interest loans, loan guarantees and performance-based grants for economic development projects in Loup City and Sherman County. The fund is expected to create approximately $40, 000 per year for 15 years. Possible uses for the sales tax funds include business recruitment, business expansions or start-ups, purchase of real estate for development and much more. For more information, guidelines and an application, click on the links below or call (308) 750-3133.
Loup City Sales Tax Guidelines
Economic Development Re-Use Fund, is a regional plan for projects located within Sherman County. The objectives of the reuse fund are to provide financing for start-up and existing businesses that cannot obtain conventional financing to attract new business to the area and to create and retain jobs for low to moderate income persons. The minimum loan amount is $5,000 and the maximum loan amount is $20,000. An application review committee has been created to review applications. For more information, contact Annette Gallaway, Loup City Clerk at (308) 745-0222.
Loup City Development Corporation is a Nebraska limited liability company. Members of the Development Corporation invest their personal funds into the treasury of the company on a monthly basis in Loup City to fund operations and pursue company objectives. This organization has an objective of assisting with community wide economic development by pursuing business start-up, expansion, and development. To do so, members of the Development Corporation screen requests from entrepreneurs and potential new businesses in Loup City to make an informed business decision concerning funding of the requests. Projects that are approved by the Development Corporation members then receive funding in the form of a low interest loan. For more information call (308) 750-3133.
Tax Increment Financing (TIF). The City of Loup City has the ability to use TIF to assist a new or expanding business. For more information, contact the Economic Development office at (308) 750-3133.
Sherman County Business Incentives For further information, contact the Economic Development Office.
Nebraska Advantage - The Nebraska Advantage package was designed to create a business climate that makes Nebraska the preferred location for starting and growing your business. The Nebraska Advantage rewards businesses that invest in the state and hires Nebraskans. In this progressive, pro-business tax climate, corporate income and sales taxes are reduced or virtually eliminated.
133 S. 8th Street - Loup City, Nebraska 68853
Phone: 308.750.3133 or 745.0430 - Fax: 308.745.0430