NioCorp seeks three-year Advantage Act extension for $1.2B Elk Creek project

Senator Bob Hallstrom introduced LB 1191 seeking a three-year extension for job-creation timelines under the Nebraska Advantage (Advantage Act) for the Elk Creek critical minerals project managed by NioCorp Developments. Sponsor and company witnesses told the committee that the project is capital-intensive and that most initial hires will be construction contractors whose positions do not qualify as permanent jobs under the Advantage Act; permanent, Advantage-qualifying positions are expected to ramp up toward the end of a multiyear construction schedule.

Neil Shah, chief financial officer for NioCorp, said the total project investment is about $1.2 billion, of which roughly $200 million is associated with mining activities that do not count toward Advantage Act job thresholds. Shah said the company expects over 1,000 construction-related jobs during approximately three years of building the mine and processing facility, while more than 400 permanent positions subject to the Advantage Act would come online near commissioning. To address state fiscal concerns, Shah said NioCorp supported increasing the existing $10,000 application fee for a timeline extension to $90,000 to help make the proposal revenue positive.

Local officials — including the city of Tecumseh’s economic development director and a Pawnee County commissioner — urged committee support, citing projected regional payroll and local demand for housing and services during construction. Committee members asked about the fiscal note and whether the extension would affect the long-term cost of incentives; sponsors said the change does not alter benefit levels or eligibility, only the timeline for meeting them.

The committee closed the hearing after proponent testimony. No opponents appeared in the room.