WAYNE — During a community development forum this week in Wayne, leaders from the Nebraska Department of Economic Development (DED) outlined findings from statewide and national research.
They showed that both internal and external talent view Nebraska increasingly favorably, especially when it comes to quality of life, housing affordability and public safety.
“Very different set of priorities in this generation compared to their predecessors,” said K.C. Belitz, the director of the Nebraska DED. “They want to know they can afford to live somewhere, they’ve got a house, they’re safe. That’s what’s at the top.”
They also shared that Nebraska crossed 2 million people last year and is the second-fastest growing state in the Midwest. There also has been record-high employment for four consecutive months. However, Belitz explains that there is still work to do to continue to grow Nebraska.
Belitz delved into many topics on Monday, but one in particular took center stage — housing. This was the primary topic of discussion, as community members voiced their concerns about the rising cost of living.
Belitz said Nebraska’s median housing price has gone from $211,000 to $310,000 in the past five years. He stated that big changes need to happen if Nebraska is going to help fix the housing crisis.
“We cannot do the same old, same old, and add 3% because that doesn’t get us to where we need to get,” Belitz said. “We really have to think very, very differently in terms of the funding model, in terms of the construction techniques, in terms of all the things that we’re really going to make transformational change in the housing inventory in the state.”
To meet that demand, state officials are focusing heavily on housing development and regulatory reform. Investments in housing have increased dramatically over the past five years, and permitting processes have been streamlined to ensure faster construction timelines.
“We know housing is a significant priority,” Belitz said. “The state of Nebraska is doing our part. I’ll put it that way in terms of investments in housing way more than over five years ago, at least in our department.”
Belitz said they are going to continue to make strategic investments in housing development, as well as expediting awarded funds for projects. He said that if Nebraska is going to help solve this issue, major changes need to happen with the process.
Besides housing, Belitz talked about Nebraska’s entrepreneurial ecosystem. Despite a growing portfolio of support for small businesses and startups, DED officials acknowledged that Nebraska’s entrepreneurial ecosystem remains fragmented.
The Business Innovation Act has shown strong returns, with every $1 invested by the state generating $12 in follow-up investment or tax revenue. A newer federal initiative, the State Small Business Credit Initiative, received $64 million to put into Nebraska’s small-business lending and venture capital ecosystem and already has allocated two-thirds of that money.
Yet the key the DED stressed is better coordination and communication among support organizations, especially in rural areas. The community of Sidney, for example, was cited as a model, having launched more than 100 new businesses in the wake of Cabela’s departure by focusing on ecosystem development.
Belitz also talked about bioeconomy, where Nebraska’s agriculture, abundant natural resources and central location give it a global edge. He explained that Nebraska is doing things such as converting ethanol into bioplastics and investing in sustainable aviation fuel.
Belitz concluded that with these opportunities and problems, there also is a closing window of opportunity for the state, and Nebraska needs to take advantage of it.
“We have a truly unique window of opportunity in Nebraska right now,” Belitz said. “The reality is that windows close. This one will, too. And so the challenge that we all have together, and part of the reason we’re here today, is to decide how we take advantage of this window of opportunity. Because there is a time bomb. There is a deadline here. We have to take advantage of this now, and that probably means doing some things differently than we’ve done before.”