For purposes of the Business Innovation Act: (1) Department means the Department of Economic Development; (2) 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 federal decennial census or 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; (3) Federal grant program means the federal Small Business Administration's Small Business Innovation Research grant program or Small Business Technology Transfer grant program; (4) Microenterprise means a for-profit business entity with not more than ten full-time equivalent employees; (5) Prototype means an original model on which something is patterned by a resident of Nebraska or a company located in Nebraska; and (6) Value-added agriculture means increasing the net worth of food or nonfood agricultural products by processing, alternative production and handling methods, collective marketing, or other innovative practices.
‹ Prev All Nebraska sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.