LINCOLN, NEB. – May 4, 2015 – (RealEstateRama) — The Nebraska Department of Economic Development has awarded $297,060 from its Site and Building Development Fund (SBDF) to the McCook Economic Development Corporation (EDC).
McCook EDC is using the funding to help American Agricultural Laboratory, specializing in soil and tissue testing for the national and international agriculture markets, to renovate and retrofit the former 90×40-sq. ft. ALCO building for its expanded operations. The project will create five full-time jobs, and retain13 full-time and six part-time existing positions.
Renovations will include external and internal structural repairs, installation of services including electrical, HVAC and plumbing, and installation of lab instrumentation and equipment among other items.
Additional funding of $1,138,465 from American Laboratory, McCook National Bank, the U.S. Small Business Administration, and McCook’s LB840 fund, will complete the project. LB840, the Local Option Municipal Economic Development Act, authorizes incorporated cities and villages to collect and appropriate local tax dollars (sales and/or property tax) if approved by local voters, for economic development purposes.
The Site and Building Development Fund is designed to create conditions favorable to improving the industrial readiness of Nebraska by providing financial assistance for industrial site and building development. Eligible activities may include land and building acquisition; building construction or rehabilitation; site preparation; infrastructure development and improvements; engineering and design costs.
For information about the McCook project, contact Rex Nelson at 308-345-1200 or rex (at) mccookne (dot) org
For information about SBDF, contact Dave Honz at 800-426-6505, 402-471-3763, or dave.honz (at) nebraska (dot) gov
CONTACT Kate Ellingson at 800-426-6505, 402-471-3749, or kate.ellingson (at) nebraska (dot) gov