GRAND ISLAND, Neb. -- Local economic leaders urged people to vote for the renewal of the Economic Development Program. 

The LB840 program is an incentive program for the city of Grand Island to recruit and expand new businesses. Grand island is one of 84 communities that would have this program that’s been going on for 20 years. 

According to the Grand Island Area Economic Development President Dave Taylor, the program has been a positive tool. He says the city has invested just over $6.7 million, has generated 1,100 new jobs and $36 million in wages each year.

“It make sure and ensures that we remain competitive as we continue to expand whether it is existing businesses that are looking to grow or new businesses looking to come to Grand Island," Taylor said. 

The renewal effort is asking Grand Island voters to approve $950,000 annually for 10 years. This new program will run from Oct. 1, 2023, through Sept. 30, 2033. Taylor asks community to make sure to vote next Tuesday. 

“Getting out and voting for the LB840 program would be really the next step for us, understanding that it’s not putting us on a different level it’s really just leveling the playing field with all the communities and other states that we compete against for expansion of business,” Taylor said.

According to the Economic Development Office, voting for the renewal does not increase taxes. The program funding exists through the city's General Fund.