Bill that creates 'Innovation Hubs' for underprivileged areas, advances

LINCOLN, Neb.-- A bill that is set to create 'innovation hubs' that support rising businesses in underprivileged areas of Nebraska, moved to the second round of debate on Wednesday with strong support from lawmakers. 

State Sen. Terrell McKinney of Omaha had designated Legislative Bill 450 as his priority, this would increase the likelihood of being debated. 

Universities, banks, local economic development departments, nonprofits, business incubators, and other entities could collaborate to create the 'iHubs,' which would offer support to entrepreneurs. 

In order for the 'iHubs' to become official, they would have to apply to the Director of the state's Department of Economic Development, who will be overseeing and assisting the 'iHubs', to get the official designation. 

The idea behind the 'iHubs' is that they will be able to offer help with any aspects of running a business, such as; business planning, financing, marketing, taxes, legal requirements, budgeting, and bookkeeping. 

Sen. McKinney stated that current hubs around the country include tech entrepreneurship programs, accelerators, economic development initiatives, nonprofits joining to become philanthropy collectives, and small businesses. 

Areas of the state that Sen. Mckinney said could potentially benefit, from having an 'iHub' include; Adams, Buffalo, Dodge, Keith, Madison, Sarpy, and Scotts Bluff Counties.

The bill received a 43-0 vote and will need to pass through two more rounds of debate.