GRAND ISLAND – A company will receive up to $525,000 in LB 840 funding to construct public infrastructure to support construction of a 15,000 square-foot to 20,000 square-foot building on eight acres in an undeveloped portion of Platte Valley Industrial Park East.
The Grand Island City Council voted 10-0 May 7 to give the funding to Vermeer Equipment of Nebraska, Inc., doing business as Vermeer High Plains.
Vermeer High Plains submitted an application to the Grand Island Area Economic Development Corporation for the funds, according to a May 7 memo to the Mayor and City Council.
“Operations at this new location of Vermeer High Plains will include the sale of new and used equipment, remanufacturing and service of equipment, and the leasing of equipment,” the memo said.
Vermeer will maintain the average annual number of employees at its existing Nebraska locations, including its Alda facility, for at least 24 months after the award of a grant.
Public infrastructure to be installed includes water and sanitary sewer and the construction of future Cobalt Drive. The construction cost of the improvements is estimated at approximately $500,000, and the design/engineering of the improvements has been completed at a cost of $24,912.
PVIPE LLC is the owner of the land that will be improved with proceeds of this grant.
