WE’RE COMMITTED TO
We’re business leaders & volunteers working together to support quality of life in Albion by developing opportunities to live & work here. For more than 50 years there has been a commitment to economic development in Albion. And for the last 20 years, Albion Economic Development Corporation has been able to accomplish even more thanks to funding made possible by LB 840.
We’re committed to helping the Albion community sustain its quality of life by supporting existing business owners and working to develop new opportunities that will add value to our residents and guests.
For at least the last 50 years, Albion has had some form of economic development organization. However, with the passing of LB 840 in 1998, greater opportunities were made available. LB 840 allows for a portion of sales tax to be set aside for economic development. This funding source has had a tremendous impact on the ability for AEDC to support local growth.
YEARS OF ECONOMIC DEVLEOPMENT
Funding for AEDC prior to 1998 came solely from local investors, which greatly limited the assistance the organization could provide to local businesses. In fact, before 1998, the organization often had less than $20,000 each year to support economic development.
BUSINESSES & ORGANIZATIONS SERVED
One of the first projects AEDC supported was gifting two lots to Boone County Hospital for a helicopter pad. Since then, our organization has built partnerships to bring in businesses, such as Shopko Hometown, provided funding for developing housing, downtown improvements like new awnings and signage, and much more.
YEARS OF LB 840 FUNDS
Since 1998, LB 840 has allowed a portion of local sales tax to support AEDC. This includes one-quarter-cent city sales tax. Every 10 years, local voters cast their ballot to decide whether or not to continue this funding. Without it, AEDC would once again be very limited on how it can benefit the Albion community.
Our involvement in economic development for Albion spans a wide range of projects and initiatives. We have outlined some of the most recent, larger impact projects below, but please browse our more complete list by clicking the link below.
FACADE IMPROVEMENT PROGRAM
Since 2012 AEDC has provided funds to Albion businesses to make improvements to their buildings. This includes new windows or sidewalks, new awnings and window signage, and more. Through this project, we help local businesses gain attention and improve their exterior image, ultimately making Albion a more attractive community to live and shop in.
BOONE COUNTY TRAILS SYSTEM
A growing interest in construction a concrete walking/biking trail in Boone County led to our involvement in the Boone County Trails System committee. The committee hopes to build a 1.8-mile concrete loop through Fuller Park, the Boone County Fairgrounds and South 8th Street.
DOWNTOWN REVITALIZATION GRANT
In 2017, AEDC led an effort to receive $350,000 in Community Development Block Grant (CDBG) funding for a Downtown Revitalization (DTR) project. Our organization agreed to $107,450 in matching funds to meet the grant requirements. Through this program, a greater improvement can be made to support local business, spurring more visitors to downtown Albion.
DILAPIDATED BUILDING ASSISTANCE
Since our inception, AEDC has worked with home and business owners to demolish and clean up lots in order to build new facilities to enhance the image and opportunities for our community.
IMPACTING LOCAL SUCCESS
More than 50% of Albion downtown businesses have utilized facade funding from AEDC.
Albion Economic Development Corporation
233 S. 4th St.
Albion, NE 68620