For purposes of the Nebraska Innovation Hub Act: (1) Department means the Department of Economic Development; (2) Director means the Director of Economic Development; (3) Economic redevelopment area means an area in the State of Nebraska in which: (a) The average rate of unemployment in the area during the period covered by the most recent American Community Survey 5-Year Estimate by the United States Bureau of the Census is at least one hundred fifty percent of the average rate of unemployment in the state during the same period; and (b) The average poverty rate in the area is twenty percent or more for the federal census tract in the area; (4) iHub area means the geographical area in this state in which an iHub will operate. An iHub area shall be located within: (a) An economic redevelopment area; (b) An enterprise zone designated pursuant to the Enterprise Zone Act; (c) An inland port district as defined in section 13-3303; (d) Thirty miles of the largest artificial reservoir constructed in this state for the storage of water; or (e) Any county having a population of less than one hundred thousand inhabitants; (5) iHub partner means an entity described in section 81-12,111 that collaborates with an iHub for purposes of driving economic growth within an iHub area; (6) Innovation hub or iHub means a private nonprofit corporation that is designated by the director as an iHub or an inland port authority created under the Municipal Inland Port Authority Act; and (7) Postsecondary educational institution means a two-year or four-year college or university which is a member institution of an accrediting body recognized by the United States Department of Education.
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