The City of Hartington recognizes that the retention and expansion, along with the attraction of new businesses, is occurring in a very competitive market place. In order to make Hartington as competitive as possible, the community must strive to use all financial and human resources available by using federal, state, municipal, and private sources.
City Sales Tax (LB840)
The Hartington Economic Development Program is funded by the proceeds from a 35 percent of a 1 (one) percent local sales and use tax for a period of 15 years. It is estimated that $70,000 per year will be generated for the Economic Development Program for an estimated 15-year total of $1,050,000. For more information, contact Miranda Becker, Economic Development Coordinator at (402) 254-6357.
Revolving Loan Fund
The City of Hartington’s revolving loan fund is a local plan for projects located within Hartington. The objectives of the reuse fund are to provide financing for start-up and existing businesses that cannot obtain conventional financing, to attract new business to the area and to create and retain jobs for low to moderate income persons. An application review committee has been created to review applications. For more information, contact Miranda Becker, Economic Development Coordinator at (402) 254-6357.
- LB840 (Local Option Municipal Economic Development Act) Revolving Loan Fund
- JOBS Facade Loans – Provide financing for exterior facade improvements to businesses within Hartington city limits
Tax Increment Financing (TIF)
The City of Hartington has the ability to use TIF to assist a new or expanding business in order to fund public improvements associated with private developments in “blighted or substandard” areas of the community. This Financing captures the projected increase in property tax revenue, which results from the private development. The maximum period on this is 15 years.
Westfield Acres Housing Development
The Hartington community has a housing development available to individuals seeking new construction — Westfield Acres. This development has attractive new concrete paving, public electric power and natural gas hook-ups, as well as city water and sewer, and fiber optic cable providing voice services, high-speed broadband internet, and IPTV. Click to view more information.