City of Imperial Economic Development
Whether you are from the area or looking to relocate, we are here to help you start, grow or expand your business.
Sites are available for purchase for controlled commercial and light industrial purposes in the Cornerstone Commercial Park. In addition to the prime location these sites offer, additional incentives may be available.
Imperial is a strong agricultural community and has weathered national recessions better than many comparable communities in other states. Imperial continues to strengthen its business climate and development efforts through local incentives, securing a multi-use development property and increasing Business Retention and Expansion Activities.
Local incentive packages offered to businesses and industries are negotiable and intended to provide a welcoming and profitable business climate for both local and prospective companies interested in developing or expanding their operations in the area while ensuring that the investment of local incentives result in mutual benefit to the residents of Imperial and Chase County as well as the assisted company.
Imperial’s Economic Development Program is funded through LB 840, the Local Option Municipal Economic Development Act, to provide program benefits including revolving loans or loan guarantees to eligible businesses.
Priority will be given to the following:
- Businesses that create one quality job for each $25,000 or less in funding
- New business starts
- Expansion and enhancement of existing businesses
- Businesses with unusual potential for growth
- Businesses that provide for important local or regional needs
Funds may not provide for more than 50% of project costs.
Minimum of 10% equity required.
Fixed interest rate generally equal to half of prime rate, but not less than 2%.
Terms: Up to 10 years for capital assets and 5 years for loans involving any other asset category.
$100 non-refundable application fee.
Note: Successful applicants will be responsible for the cost of preparing and filing required loan documents.
Tax Increment Financing (TIF) allows the use of newly created tax dollars from improvements to assist new or expanding businesses. Eligible redevelopment plan projects may include, but are not limited to engineering, easement acquisition, installation and financing of paving, curb and gutter, water, fire protection, surface water draining systems, sanitary sewer, and the costs of any required studies.
TIF can only be used in areas that have been designated as blighted and substandard. Imperial’s designated Tax Increment Financing District includes the Downtown Area, the Highway 6 Industrial Area and the Highway 61 Commercial and Industrial Area providing an excellent tool for redevelopment projects in those areas of the community.
The purpose of TIF is to improve rundown properties, encourage new construction, increase the property tax base and bring new jobs to the community.
TIF generates and uses new tax dollars that would not exist if not for the project.
To be considered eligible for Tax Increment Financing projects must meet three basic criteria:
1. The redevelopment project would not be economically feasible without the use of TIF.
2. The redevelopment project would not occur in the community redevelopment area without the use of TIF.
3. The project passes the cost benefit analysis.
- Business Plan Consulting, Development and Review
- Demographic/Census Data
Buying or Selling a Business
- Buying or Selling a Franchise
- Purchasing an Existing Business
Economic and Site Development
- Site Location Assistance
Financial Resources and Assistance
- Loan Providers
- Real Estate Finance
Office, Incubator, Accelerator, Laboratory, Kitchen and Meeting Space
- Site Location
Starting a Business
- Site Location
- Business Plan Training and Assistance
- One-on-One Counseling