Mayor Leirion Gaylor Baird was joined by city officials this morning to announce two promising developments for Lincoln’s economic future.
The Nebraska Department of Economic Development (DED) has designated the capital city as an Economic Development Certified Community. Additionally, the Lincoln Partnership for Economic Development (LPED) has announced Lincoln will become the first community in Nebraska to begin offering no-interest microloans for entrepreneurs and startup businesses through an online crowdfunding program called “Kiva.”
“These two new designations recognize Lincoln’s efforts to foster entrepreneurship and create new economic opportunity, helping us grow the great life for all,” said Mayor Gaylor Baird.
DED’s recognition of Lincoln as community for economic development signifies to employers and potential newcomers that Lincoln has the essential ingredients for economic opportunity and allow for the city to be more competitive for federal and state grants.
“This positions our team to continue attracting new businesses and securing new grant opportunities in the future,” said Luke Peltz, LPED’s Vice President of Economic Development.
Peltz also discussed LPED’s partnership with Kiva, noting that Kiva microloans provide an entrepreneurial on-ramp and lower the barriers to business entry and expansion. Kiva loans often reach underserved populations – including women, minority, and low-to-moderate income entrepreneurs. Lincoln’s Kiva Hub will be administered through Community Development Resources of Lincoln and will officially launch this summer.
Today’s announcement is the first in a series of five “Grow the Great Life Week” events this week. Each day, the Mayor and community partners will highlight City achievements and initiatives designed to strengthen economic and workforce growth in the city.