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Nebraska Renaissance Action Plan 2009

Nebraska Renaissance Action Plan 2009

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Published by Shelli Dawdy

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Published by: Shelli Dawdy on Jan 25, 2011
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An Action Plan For Growing Nebraska
Prepared for
Nebraska Renaissance
July 8, 2009
Eric Thompson, Bureau of Business Research, University of Nebraska-LincolnPrepared byErnie Goss, Goss and AssociatesNick Niemann, McGrath North Mullin & Kratz, PC LLO
Table of Contents
The Need to Act
I. Introduction: The Purpose of Report 1II. The Need to Act 6A. The National Economic and Demographic Environment 7B. Where Nebraska Stands: A Decade of Too Little GrowthAnd Too Much Taxation 9C. Nebraska’s Economic Future: What If We Do Nothing? 17D. We Can Grow Nebraska 22
Action Plan
III. Plan Section One: Government Structure and Organization 23IV. Plan Section Two: Job Creation Incentives and Tax Reductions 41V. Plan Section Three: Other Enhancements to Keep Nebraskans In Nebraska 104References 135
Appendix A: Youth Retention and Development 139Appendix B: Demographic Trends and Competitive Strategies for Regions 147Appendix C: Some of the Latest Ideas in Economic Development amongthe States and Cities of the U.S. 156Appendix D: What are Economic Development Incentives? 164Appendix E: About the Authors 174
List of Tables
II.1 Projected Annual Population Growth United States 2008-2020 8II.2 Projected High Growth Industries 2006-2016 9II.3 Components of Annual Population Growth 2000-2007 10II.4 Growth 1995-2007 11II.5 Per Capita and Per Employee Growth 1996-2007 12II.6 Nebraska State and Local Tax Burden 1992-2006 13II.7 State and Local Taxes as a Percent of Personal Income, 2005 14II.8 Tax Rate Comparisons 2006 15II.9 State Business Tax Climate Index Ranking, 2007 16II.10 Summary of Tax Policy Comparisons: Nebraska vs Neighboring States 16II.11 Household Tax Burden in Nebraska and Neighboring States in Lemonand Thompson (2007) 17II.12 Projected Population Growth: 2006-2015 19II.13 Projected Growth Factors: 2006-2015 19II.14 Projected State and Local Tax Burden per Capita 2016 21III.1 Spending Per Student, Nebraska Compared to Border States 2005-2006 39III.2 Nebraska’s K-12 Education Spending, 1965-2005 40IV.1 Effective Tax Rates and Subsequent Economic Growth 47IV.2 Nebraska and South Dakota’s Tax Burden Compared, 2005 50IV 3 Nebraska and South Dakota’s Government Spending Compared, 2005 50IV.4 Tax Savings for Nebraska Citizens if State and Local Tax RatesIn Nebraska Equaled Those in South Dakota 51IV.5 Excessive Spending in Nebraska Compared to South Dakota Total andPer Household 52IV.6 Growth in Nebraska versus South Dakota 1995-2005 52

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