McCook Economic Development Corporation

Nebraska Ranked No. 1 by Tax Foundation!

Tax Foundation Ranks Nebraska No. 1

The Tax Foundation released its latest study of bottom-line tax liability for businesses in each of the 50 states titled “Location Matters: A Comparative Analysis of State Tax Costs on Business”. The study found that Nebraska was No. 1 overall for newly established operations, and for both new corporate headquarters and new call centers. Nebraska also ranked No. 2 for mature R&D operations, with a total tax burden nearly 50 percent less than the national average, and for both new capital-intensive and new labor-intensive manufacturing. read more

McCook Economy Humming; MEDC Pushes More Growth

By GENE O. MORRIS

Following one of the best years ever for McCook’s economy, the members of the McCook Economic Development Corp. gathered at the Keystone Business Center Monday afternoon to review the past year’s achievements and make plans for further growth in 2012.

Speaking to a large crowd in the Keystone’s restored dining hall, the executive director of the McCook Economic Development Corp., Rex Nelson, declared, “Project activity has been the best since I have worked at the MEDC.” Nelson went on to explain, “Projects in bioenergy, agribusiness and retail are still in various stages of development.” As an example, the development executive pointed out that “one client would like to locate at the industrial park (near Valmont’s center pivot manufacturing facility).”

Because of the industrial prospects, Nelson said the economic development board is taking a close look at MEDC’s subdivision agreement with the city. As a result, he said, changes in the subdivision agreement are indicated.

While Nelson could not reveal the exact nature of the industrial negotiations, there was plenty else to talk about at the MEDC’s Annual Meeting of Members.

Among the highlights:

*Because job retention and the success of existing businesses is always the first priority, MEDC continues to press their Business Retention and Expansion program. Working with Lena Koebel with the Mid-Plains Community College Center for Enterprise, Nelson has visited over 35 key businesses in the past year. These visits are designed to identify needs that the community can address and to find opportunities for expansion. Considerable job growth has occurred in some of our existing businesses this past year.

* The Keystone Business Center, restored at a cost of $4.5 million, is now fully occupied with 19 tenant companies, including two anchor tenants and seven start-ups;

* The first loan was made from the Economic Development Sales Tax Program.

East Ward Village was the first recipient, using a $105,000 loan to leverage a $4 million investment in support of 27 new housing units in McCook.  The project is considered an important piece of the workforce housing solution, as folks moving into these new unites release single family homes to the market;

* A Facade Renovation Program is being put in place for commercial areas of the community, with all but $34,000 of the $313,767 program committed for pending loan applications and the $90,000 Facade Renovation Program reserve;

* MEDC helped launch a community consortium called Vision McCook which funded development of the new promotion: “McCook: The Go-To Place of Southwest Nebraska!”

* Utilizing funds from a U.S. Department of Agriculture grant, the McCook Economic Development team created a new, professional website “that is easy to work with and keep up to date.” Among the features of the website is a blog component that lets the MEDC post lots of news and events that can then be promoted with links from Facebook and other traffic-driving techniques. Nelson commented that: “We know that both potential residents and business prospects do their research online, so a strong web presence is essential.”

The McCook Economic Development Corporation’s members also heard reports from the MEDC Housing Director, Mary Kircher, and the MEDC Business Incubation Specialist, Sue Shaner.

Kircher’s report featured news that a Purchase-Rehab-Resale agreement is in the works for a house at 511 East Sixth Street. This is in addition to the house at 804 West Fourth, which has been fixed up and sold, and the house at 802 East Second, for which a buyer has been identified.

With the help of Nelson and McCook’s new city manager, Jeff Hancock, Kircher is at work on a list of housing priorities for McCook’s Strategic Plan. “We are very aware of the workforce housing needs in the community” said Kircher “so we are looking at several efforts to address them.” While the entire list was not revealed, Kircher did say that grant applications for the Purchase-Rehab-Resale program will remain a top priority.

In her report, Shaner said the McCook Economic Development Corp. works on behalf of businesses throughout Southwest Nebraska and Northwest Kansas. As an example, she pointed to the Wauneta Roller Mills where Shaner’s networking efforts helped bring the buyers and sellers together. “The transition has resulted in a young family being able to remain in the area and work together, not only to preserve a landmark company, but to expand marketing efforts to increase revenues for Southwest Nebraska and bring more notoriety to area ag endeavors.”

The business transition transferred mill ownership from a family in their 90s to a couple in their late 20s and early 30s. This not only helped the Wauneta area, it helped McCook because Wauneta Roller Mills’ products are marketed and used by several firms here, including Sehnert’s Bakery, Schmick’s Market and Homespun.

Homespun, the winner of the 2011 Hormel Business Plan Competition, is another of the incubation success stories for the MEDC. Shaner revealed, that as the result of the Hormel award and MEDC mentoring, Homespun will move to a new, larger location on May 1. At that time, Homespun’s hours will be expanded to include breakfast; more seating will be available in a new space; and a meeting room will be added.

During the annual meeting, MEDC members voted without dissent to select Dale Dueland, the owner-manager of Dueland Farms, Inc., and Russell DeLong, the McCook plant manager of Valmont Irrigation, for three-year terms on the McCook Economic Development Corp. Board of Directors.

Dueland serves as director and vice president of the Frenchman Valley Farmers Cooperative and is a member and past chairman of the McCook Planning Commission. His community service also includes being an advisory member and vice chairman of the McCook Community Foundation Fund and being the secretary and founding member of the McCook Arts Council.

DeLong has been the plant manager at the Valmont-McCook facility since 2004. He is a past McCook United Way chair and is a past president of the McCook Rotary Club.

Both Dueland and DeLong have served previous terms on the MEDC Board.

As MEDC directors, Dueland and DeLong will be replacing Jim Coady and Don Moore. The outgoing directors were praised for their service and presented engraved clocks in recognition of their efforts.

Jim Ulrich, the outgoing president of the McCook Economic Development board, presided at the meeting and Mark Graff, the MEDC treasurer, presented the financial report .

McCook Facade Renovation Program Launched

MEDC Announces Façade Renovation Grant/Loan Program

McCook Economic Development Corporation announced today that a new program has launched that will provide financial incentives for improving the facades of business in McCook Commercial areas. Funded from the Economic Development portion of the Local Option Sales Tax, this program will provide grants of up to $5000.00 with a one to one match plus additional zero interest loans up to $10,000.00 to local businesses or building owners to improve the looks and structural soundness of their building fronts.  read more

Talent and Innovation Initiative March 16th

One of the most important accomplishments of the recently concluded legislative session was the passage of several bills focused on creating new momentum for developing and attracting businesses rooted in technology and innovation—Talent and Innovation Initiative. read more