Growth Fund well despite pandemic

NEBRASKA CITY – The Nebraska City Growth Fund is doing well in sales tax revenue and loan repayments despite the pandemic slowdown.

Sales tax revenue in support of the economic development program was $237,000 in 2020, despite the pandemic, and grew to $248,000 in 2021. Revenue in a similar range is expected next spring as well.

Economic Developer Dan Mauk said interest in Growth Fund applications is growing as pandemic restrictions end.

Mauk: “A lot of people, not knowing what the program is, have this feeling that they can just come by and get money and, in some cases, that’s true, but not always. Through the pandemic inquiries dropped off considerably, but now they are back up.  There are more applications out. It still remains to be seen if they will turn one in.”

The program, which was approved by voters in 2016, has supported a housing study, flower basket program and has made 14 business loans.

Mauk said the performance loan history of the program in enviable.