Poll on Rural Economic Development Strategies

What economic development strategies are important to rural citizens? To discover that answer, researchers at the University of Nebraska-Lincoln asked 2,490 rural citizens the question, “What type of impact on your community do you think would result from your community pursuing the following economic development strategies?” Although the results varied by location, age, education and income, the overall results were very positive toward entrepreneurship as a development strategy:

Providing loans to small businesses and entrepreneurs in their community (79%)
Developing a youth entrepreneurship program in their local school/s (76%)
Providing training or technical assistance to small businesses and entrepreneurs in your community (74%)

Poll respondents were also positive toward specific infrastructure development that captured the unique characteristics or resources of the community. For example, persons living in or near communities larger than 10,000 believed developing industrial parks in their community would have a positive impact (66%) compared to persons living in or near communities with fewer than 500 persons (33%). In addition, persons living in the Nebraska Panhandle region were more positive about the perceived impact of promoting development of wind energy (82%) than persons living in Southeast Nebraska (68%).

To read this report and others, visit the Nebraska Rural Poll at the Center for Applied Rural Innovation.

Submitted by Rebecca Vogt, Survey Research Manager, University of Nebraska-Lincoln.

Flood CleanUp, Contractors Register with FEMA

Now that the Missouri River flood waters are beginning to recede in Iowa, Missouri and Nebraska, the need for businesses to help with cleanup is critical. If your business is interested in contracting with the Federal Emergency Management Agency (FEMA), contact Andy Alexander, Program Manager and Counselor with the Nebraska Business Development Center (NBDC) Procurement Technical Assistance Center (PTAC) to help (402-554-6253). A step-by-step guide is available to get you started in registering with FEMA.

NBDC PTAC is also available to assist any business interested in contracting with local, state and federal agencies. PTAC offices are located in Omaha, Auburn, Kearney and Wayne.

Submitted by Marilyn Schlake, Extension Educator, University of Nebraska-Lincoln

Student internships may be an option worth exploring.

Looking to add staff without the full-time commitment? Student internships can help you get things done on a limited budget.

The Nebraska Internship Program, which began on June 1, has job training funds available to help businesses hire student interns. The program provides a 40% match, up to $3,500 per internship, for eligible businesses hiring eligible student interns (businesses in distressed areas may receive a 60% match up to $5,000). A business may apply for funding for up to 10 interns per year, with a maximum of five interns per company location, per year.

Eligible businesses are primarily in Manufacturing, Research & Development, Distribution, Transportation, Storage & Warehousing, Data Processing, Telecommunications, Insurance & Financial Services, Administration (Headquarters) and more. Eligible students must be enrolled full-time in a postsecondary college or university with junior or senior status, or in their second year of a two-year program. Internships must pay minimum wage or more and range from 200-1,000 hours.

As of August 8^th, 79 businesses have applied for Intern Nebraska funding with 45 businesses approved and participating in the program. Nearly $640,000 of the $1.5 million available in funding is committed. Thirty-one qualified businesses are in rural Nebraska and 14 businesses are in urban parts of our state. Approximately 38 qualified businesses are still looking to hire around 124 interns as of today. The intent of the program is to create at least 500 new internships annually in Nebraska.

For more information about the program, to post a job opening, or to search posted student resumes, go to http://InternNE.com/employer. To learn more about the benefits of hiring interns, here’s a video featuring Dan Shundoff, owner of Intellicom, Inc.: Expanding Capacity with Interns

Marilyn Schlake, Extension Educator, University of Nebraska-Lincoln

Alice’s Integrity Loan Fund

Alice Dittman, retired CEO of Cornhusker Bank, is giving $1 million to establish Alice’s Integrity Loan Fund, a micro-lending program for individuals who want to start or grow a business. Alice’s Integrity Loans will be considered for any amount, up to $5,000 at a fixed interest rate of 6 percent, with repayment no longer than 3 years or 36 monthly payment. If the loan has been paid as agree, a step up loan of $10,000 may be possible. A qualified burrower must be a resident of Lincoln or Lancaster County, Nebraska.

Loans will be evaluated on 4 specific standards:

Character 40% - Applicant must demonstrate by record, a payment history. Demonstrate definitive service to others and absence of destructive personal behavior or addiction.
Capacity 30% – The ability of an individual to carry out their business idea. The individual must commit to completion of a business plan.
Commitment 20% – The responsibility of the individual borrowing money from the Fund to repay the loan. To commit to helping another individual to follow sound stewardship with their income.
Capital 10% – It is not the intention of the Fund to require collateral, however some type of measurable equity must be provided.

The program is administered by Deb Payne, fund manager and coach located at Community Development Resource (CDR). CDR is a Community Development Financial Institution certified by the U.S. Treasury that provides provides financial products and services to businesses underserved by traditional financial institutions.

Contact Deb Payne at 402.436.2435 or deb.payne@cdr-nebraska.org or visit the Alice’s Integrity Loan Fund website.