By Allison Peck | North Platte Post/Sandhills Post
Lincoln, Neb. - Nebraska companies invested nearly $5 billion and created more than 9,000 full-time jobs during the 2024–2025 fiscal year, according to the recently released 2025 Nebraska Tax Incentives Annual Report from the Nebraska Department of Revenue.
The report, covering July 1, 2024, through June 30, 2025, shows that 79 active projects under the Nebraska Advantage Act accounted for $4.9 billion in capital investment and 9,178 new jobs, with an average annual wage of $59,000. Businesses were approved for or claimed tax credits and refunds totaling $146.8 million across their active projects.
Although the Nebraska Advantage Act stopped accepting new applications at the end of 2020, companies that qualified can continue claiming benefits through 2051. The program provides tax credits and refunds based on investment and employment growth.
Projects included in the report span the state and a variety of industries, from manufacturing and renewable energy to financial services and agriculture. The report highlights individual agreements, including Sustainable Beef in North Platte, which committed $10 million and 75 jobs under a 2022 agreement, and Allo Communications, whose statewide fiber expansion includes North Platte, Ogallala, and Scottsbluff.
Tax Commissioner James Kamm said the department continues auditing projects and may recapture benefits if companies fail to meet targets. Certain data in the report is withheld to protect taxpayer confidentiality.
The report also summarizes activity under the Advantage Rural Development, Microenterprise Tax Credit, and Research and Development acts, as well as older programs such as the Employment and Investment Growth Act.
Lawmakers are expected to continue reviewing Nebraska’s economic incentive framework next session as the ImagiNE Nebraska Act — the successor to Advantage — gains momentum for new applications.
The full 2025 Tax Incentives Annual Report is available at revenue.nebraska.gov/incentives/annual-reports.