Gov. Dave Heineman spoke about the Talent & Innovation Initiative on Friday at Hayneedle. Among those in attendance were (standing, from left) Richard Baier, Sen. Jim Smith, Heineman, Doug Nielsen and Sens. Burke Harr and Abbie Cornett. Photo by Michael Stacy.
From the home base of one made-in-Nebraska startup success story, Gov. Dave Heineman today touted measures recently passed to enable other such stories.
Heineman visited Hayneedle headquarters to highlight opportunities afforded to Nebraska businesses by the four-part Talent & Innovation Initiative, which passed during the recently completed legislative session. (For more on the Initiative’s passage, see our story, “Legislators OK Angel Investment Tax Credit, other startup incentives.”)
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Among the Talent & Innovation Initiative’s four bills, The Angel Investment Tax Credit Act (LB389) is probably foremost in importance to area startups and early-stage investors. The bill, which provides refundable state income tax credits to qualified investors of early-stage companies, goes into effect Sept. 1.
“This is about our future,” Heineman said. “This is the opportunity to keep more young people in Nebraska by having an Angel Investment Tax Credit program. It provides early capital to companies who want to grow and the best example is right here today with Hayneedle; in nine years they’ve grown to 400 employees.
“If we had more and more companies doing that in Nebraska, we would accelerate our growth even more.”
The Initiative also includes Internship Act (LB386), which allocates $1.5 million for qualified businesses to create new student internship opportunities; the Business Innovation Act (LB387), which provides grants for businesses to use on research and prototype development; and the Site and Building Development Act (LB388), which provides funding to for the development of industrial, business and commercial sites.
Heineman was joined by a group of business and political leaders that included Doug Nielsen, co-founder and chairman of Hayneedle, Richard Baier, director of the Nebraska Department of Economic Development, and Sens. Abbie Cornett, Burke Harr and Jim Smith of the 45th, 8th and 14th districts, respectively.
Nielsen said it was rewarding to have Hayneedle, which over the course of a decade has grown into a company that employees 400 people and has done over $1 billion in sales, serve as host of today’s event.
“I think it’s really exciting for Nebraska to have, you know, a bill like this in place that encourages entrepreneurship right here in Nebraska, encourages people to take a risk on entrepreneurs in helping them get started pursuing their idea and their dream,” Nielsen said.
For our previous coverage of the legislation, including a special, four-part series from Tom Chapman, director of entrepreneurship and innovation for the Greater Omaha Chamber of Commerce, and commentary from Dusty Davidson, co-founder of Silicon Prairie News, see:
- “Legislators OK Angel Investment Tax Credit, other startup incentives“
- “Guest Post: An Angel’s take on the Nebraska Angel Incentive Legislation“
- “Gov. Heineman proposes Angel Investment Tax Credit“
- “Special Series Wrap Up & Thoughts: ‘Talent and Innovation Initiative’“
- “Special Series: ‘Talent and Innovation Initiative’ – Angel Tax Credit Act“
- “Special Series: ‘Talent and Innovation Initiative’ – Site & Building Dev. Act“
- “Special Series: ‘Talent and Innovation Initiative’ – Business Innovation Act“
- “Special Series: ‘Talent and Innovation Initiative’ – Internship Bill“
