The purpose of the program is to create jobs and generate employment opportunities, to expand labor markets in Stromsburg and Polk County, and to attract new capital investment to the community of Stromsburg. If a business is not located in Stromsburg it must have a clear economic benefit to the City.
To be eligible for use of the funds the business must be a sole proprietorship, “S” Corporation, “C” Corporation, general partnership, limited partnership, or limited liability company. Some of the eligible uses are manufacturing, retail, and sale of services in interstate commerce. A more complete listing of eligible activities can be found in the economic development plan. Both existing businesses and start up businesses are eligible. No more than 50% of the total required funds can come from LB840 funds and the business is also required to provide a minimum of 10% of the funding.
For more information or to apply, download these forms below.
Economic Development Plan