FOR IMMEDIATE RELEASE
February 26, 2025
CONTACT
Aron Wehr
Greater Omaha Chamber
402.978.7920
awehr@omahachamber.org
Greater Omaha Chamber Releases TIF Report
Highlighting Economic Development Impact
Omaha, NE – The Greater Omaha Chamber, in collaboration with the University of Nebraska at Omaha’s Center for Public Affairs Research (CPAR), has released a comprehensive report on the role of Tax Increment Financing (TIF) in fostering economic growth across Nebraska. The results underscore how TIF has transformed blighted areas and contributed to property value increases and community revitalization throughout the state.
“TIF is a critical economic development tool for Nebraska. This report confirms what we’ve long believed: that strategic investments in TIF not only attract private development but also create long-term economic benefits for Nebraska’s communities. We will continue to utilize this essential tool knowing that it is indispensable for attracting investment and creating vibrant, economically resilient communities,” said Heath Mello, President & CEO of the Greater Omaha Chamber.
Key Findings:
- Widespread Adoption: TIF is actively used in 67 out of Nebraska’s 93 counties, spanning 136 cities and villages.
- Diverse Applications: Projects funded by TIF have supported residential development (54% of projects), commercial growth, industrial site creation, and essential public infrastructure improvements.
- Economic Impact: Property valuations in all active TIF areas have increased, with a total valuation growth of 324% since their base assessment. Adjacent areas have also seen average valuation increases of 19.5%.
- Positive Community Impact: TIF has spurred redevelopment that improves housing availability, modernizes infrastructure, and revitalizes communities across the state.
The report highlights how TIF addresses key challenges facing Nebraska, including population stagnation and the need for infrastructure improvements. By leveraging future property tax revenue, TIF enables municipalities to fund critical development projects without immediate tax increases or reliance on state and federal grants.
“Our research demonstrates that TIF not only revitalizes key areas but also produces measurable economic benefits that extend beyond the immediate project boundaries. This report provides evidence that TIF remains a pivotal tool for Nebraska’s continued economic development and community revitalization,” said Dr. Josie Schafer, CPAR director.
*Please find the full report 2025 Benefits of TIF attached. For follow up opportunities, please contact Aron Wehr at the contact information listed above. *
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About the Greater Omaha Chamber
The Greater Omaha Chamber is one of the country’s largest, strongest chambers with more than 3,000+ member businesses and a 5-star accreditation by the U.S. Chamber of Commerce. The mission of the Greater Omaha Chamber is to champion a thriving business community and a prosperous region through visionary leadership and collaboration.