Airport Business Park Program

The Airport Business Park Program will award funds to a nonprofit economic development organization for the development of a business park located within or adjacent to one or more qualified census tracts within the boundaries of a city of the metropolitan class and within two miles of a major airport as defined in Neb. Rev. Stat. § 13-3303.

The Airport Business Park Program will consist of two phases:

Phase 1: Planning Grant
The planning grant process will allow Applicant(s) the opportunity to submit a Master Plan for the development and creation of a business park. The successful Applicant(s) will receive grants, in an amount not to exceed $400,000.00.

Phase 2: Program Grant
In early 2023, DED will release the program grant application. The successful Applicant will be provided additional grants, not to exceed $60,000,000.00 to finalize the development of the business park. The amount of the program grant will be offset by any funds distributed during the planning grant phase.

What Can the Grants Be Used for?
Pursuant to Neb. Rev. Stat. §81-12,241(4)(a), the Nebraska Department of Economic Development (DED) shall provide grants to a nonprofit economic development organization, in an amount not to exceed $60,000,000.00, for the development of a business park located within or adjacent to one or more qualified QCTs located within the boundaries of a city of the metropolitan class and within two miles of a major airport as defined in Neb. Rev. Stat. §13-3303. A city of the metropolitan class is defined by Neb. Rev. Stat. §14-101. A QCT is defined in 26 U.S.C. 42(d)(5)(B)(ii)(I), as such section existed on January 1, 2022. A map of QCTs can be found here: https://opportunity.nebraska.gov/programs/recovery/

Who is Eligible to Apply?
The Airport Business Park Program grant application will be open to nonprofit economic development organizations for the development of a business park located within or adjacent to one or more qualified QCTs located within the boundaries of a city of the metropolitan class and that is within two miles of a major airport as defined in Neb. Rev. Stat. §13-3303.

Nonprofit economic development organizations are public organizations that provide resources for stating or locating a business, obtaining business licenses and permits, and information on job resources and labor law. These organizations also provide business advisory services, business training, networking organizations, local economic development, business advisory and financial and regulatory assistance.

Qualified Census Tract: A qualified census tract is defined in 26 U.S.C. 42(d)(5)(B)(ii)(I), as such section existed on January 1, 2022. A map of QCTs can be found here: https://opportunity.nebraska.gov/programs/recovery/

City of the Metropolitan Class: All cities in the State of Nebraska which have attained a population of four hundred thousand inhabitants or more as determined by the most recent federal decennial census or the most recent revised certified count by the United States Bureau of the Census shall be cities of the metropolitan class (Neb. Rev. Stat. §14-101.)

Nonprofit Economic Development Organization:  Nonprofit economic development organizations are public organizations that provide resources for stating or locating a business, obtaining business licenses and permits, and information on job resources and labor law. These organizations also provide business advisory services, business training, networking organizations, local economic development, business advisory and financial and regulatory assistance. Nonprofit economic development organizations must have a 501(c) designation from the Internal Revenue Service.

Letter of Intent: October 31, 2022 at 11:59 p.m. (Central Standard Time)
Anticipated Award Date: November 2022
Period of Performance: Funds to be expended by December 31, 2026

Award Amount: The total grant award will not exceed $60,000,000.000. Planning Grants not to exceed $400,000.00. The amount of the Program Grants will be offset by any funds distributed for the Planning Grant.

• Airport Business Park Program Manual