Nebraska Legislative Update………..
- The 106th Nebraska Legislature’s 90-day session has 20 working days left (ends June 6, 2019).
- The Revenue Committee advanced a property tax relief bill (LB289), which is expected to begin first-round debate on Tuesday, May 7, 2019.
- The Revenue Committee also advanced LB 720 (ImagiNE Nebraska), including a committee amendment, on Thursday, May 2, 2019, by a 6-0 vote. LB 720 is expected to begin first-round debate next week (May 13, 2019).
For additional information about the legislative session, please go to the Nebraska Legislature link at http://www.nebraskalegislature.gov/.
ImagiNE Nebraska (LB 720)
High points of the committee amendment (May 2, 2019):
- Added – renewable tax credit (LB 605 – Lindstrom),
- Added – annual review committee process,
- Added – requirement that applicants offer health insurance to full-time employees,
- Removed – $1M/10 FTE level and replaced by a $1M/5 FTE level (attainment period is 5 years),
- Added – multiplier incentive for projects deemed located in an ‘extremely blighted’ area.
- Minimum wage requirements, by each new employee, are unchanged at 100% of 90-County Avg ($1M/5 level only and $18.55/hr est.), 100% of statewide average ($21.55/hr) or 150% of statewide average ($32.32/hr).
Economic Development around the Country……….
Months after Amazon decided to cancel its plans for a new headquarters in New York City, the Company will be adding 800 jobs at its tech hub in Austin. Since 2011, the Company has created more than 22,000 full-time jobs and has invested over $7 billion in Texas.
Austin continues to flex its muscle in the tech business space, having won a site selection opportunity, announced during December 2018, whereby Apple announced it will build a $1 billion campus. The 133-acre campus, which is located less than a mile from existing facilities, will bring in 5,000 additional employees and ‘post’ move, likely make Apple the largest private employer in Austin.
Over $2B and 1,000+ new employees…….at two locations within the United States. Disney began accepting online reservations last Thursday morning from fans who want to be the first park visitors to experience Star Wars: Galaxy’s Edge. The $1 billion expansion covering 14 acres, in Anaheim, is expected to open May 31, 2019, and will open August 29, 2019, in Orlando, Florida.
Fiat Chrysler says it will hire 6,500 workers and invest $4.5 billion, by adding a new assembly plant in Detroit and boosting production at five existing factories. Expansion is due primarily to Jeep Wrangler demand/production, upcoming new jeep models (Wagoneer and Grand Wagoneer) and plug-in hybrid and fully electronic technology.
Kohler Engines has committed to spend $15M and expand its workforce by 250 employees, over the next two years, as it consolidates manufacturing operations at a facility in Wisconsin, to Hattiesburg. Kohler, at its manufacturing operation in Hattiesburg, produces gasoline engines.
Lockheed Martin recently opened a $50 million, 255,000 square foot Research & Development II facility in Orlando, Fla. Since 2017, Lockheed Martin has created more than 1,000 jobs in Orlando, with hundreds more expected over the next three to five years.
In South Carolina, Perdue Farms completed a $25 million expansion at its harvest operation, which is anticipated to create 100 additional jobs. As part of the expansion, the company added to its portioning and marinating operations, added a state-of-the-art shipping cooler, installed an automated pallet storage system and constructed office space to occupy more than 28,000 square feet at the existing facility.
A major expansion announced by Toyota Motor Manufacturing Alabama will create 450 new jobs and push its all-time investment in the Huntsville plant past $1 billion. The motor plant, which produces approximately one-third of all Toyota engines built in the United States, produces an array of Toyota motors for vehicles that include the RAV4, Highlander, Corolla, Tacoma, Sequoia and Tundra.