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Economic Development
 

What is the function of Nex-Tech's Economic Development Department?

To serve as liaison between individuals, local businesses and area organizations interested in improving the economic climate of northwest Kansas. These groups include, but are not limited to: local Chambers of Commerce, Northwest Kansas Planning and Development, western Kansas Rural Economic Development Alliance, Kansas Department of Commerce and Housing, Small Business Development Centers, educational institutions, city municipalities and county governments.

What is the purpose of Nex-Tech's Revolving Loan Fund (NTRLF)

To foster and promote rural economic development and/or job creation projects in rural areas. The NTRLF shall be used to stimulate economic growth by leveraging as much private capital as possible for qualified economic activities. Click here for a brochure.

What are eligible activities?

Projects must demonstrate that they are economically viable. Business start-up, expansion and community development projects are all eligible activities. The objective of creating and retaining permanent private sector jobs requires that the overall project feasibility and job creation potential be emphasized. The focus of the NTRLF is to promote growth while supporting development, which diversifies the region’s economy.

What are ineligible activities?

Ineligible activities consist of such activities as: debt refinancing without an expansion, speculative land purchases, projects of residential nature, transfer of ownership without expansion and 100% working capital loans. These are examples and are not intended to be all-inclusive. Each activity will be evaluated on a project-by-project basis.

What services are provided by Nex-Tech's Economic Development Department in addition to business financing?

  • Resources for start-up businesses in preparing a business plan or market study
  • Assistance with state and federal incentive programs for training employees
  • Assistance with preparation of Interactive Video, educational and medical grant/loan applications
  • Networking opportunities between federal, state, and local leaders
  • Assistance with housing programs
  • Assistance with strategic planning and implementation