Program intended to create Nebraska jobs does not pay for itself, report finds
By Noelle Annonen 
, Multimedia Reporter
July 13, 2026, 6 a.m. ·
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An attempt to invest in jobs in rural and urban Nebraska communities by the 2012 Nebraska Legislature has proven unsuccessful, according to a report from the Legislative Audit Office.
The New Markets Job Growth Investment Act was intended to inspire job creation in low-income zip codes across the state. But the audit office found that not only has participation in the program stalled over time, it has failed to pay for its own cost to the government. Meanwhile, nearly half of the businesses that participated in the program had lower employment in 2024 than they did when the program began.
The act operates under a unique investment model. The structure asks investors to front capital in exchange for eligibility for tax credits, equal to up to 39% of a given investment. Community development groups receive the capital and invest the funds in eligible local businesses in low-income areas. The program does not have a built-in job-creation or wage level requirement and mirrors a similar federal program.
The Legislative Audit Office, a nonpartisan legislative division led by the Legislative Oversight Committee, tracked 54 unique businesses that participated in the program from 2013 to 2024. Fifty-two of those companies increased employment by 843 people, although one of those companies accounted for 71% of those created jobs.
The director of the Division of Legislative Oversight said it could not identify the business that reported the most jobs acquired through the program because the division’s policy is to not release identifying information regarding individual businesses.
The report said 44% of the businesses have lower employment today than they did in 2013. Rural companies actually lost 60 jobs, despite participation in the program.
Investments, which totaled about $382 million, brought back between $0.13 and $0.47 in state revenue for every dollar spent.
“Based on these … analyses, the New Markets Job Growth Investment Act does not appear to have met the goal of paying for itself through increased state revenue,” the report states.