OMAHA — On the same day the Greater Omaha Chamber released a report seeking updates to Nebraska business incentives, Gov. Jim Pillen announced plans Monday to restore funding to a state program that invests early in local startups.

Pillen’s proposal to restore funding to $15 million for the state’s Business Incentive Act — which provides seed capital for local businesses — reverses course on state money he previously proposed cutting. He originally proposed trims of $5 million a year and directed his Department of Economic Development to evaluate the program’s effectiveness.

Earlier this year, the Legislature accepted most of Pillen’s proposed cut. During budget negotiations, lawmakers restored about $1.25 million a year after statewide testimony from business leaders. The state also briefly paused grants under the program late this year, spurring concerns from Nebraska’s startup community.

Pillen on Monday said his team’s research now backs up what many in the business community had told him about the return on state investment, which strengthened his support for the program.

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