Nebraska governor signs law extending tax incentive timeline for NioCorp

Nebraska Governor Jim Pillen signed legislation on April 16 that provides NioCorp Developments Ltd. (NASDAQ: NB) with extended flexibility to meet state tax incentive requirements. The law allows the critical minerals developer additional time to qualify for approximately $200 million in tax benefits over 10 years.

The legislation extends the period during which companies must meet Tier 6 Nebraska Advantage Act employment and investment requirements. NioCorp must create approximately 450 full-time equivalent jobs and invest hundreds of millions of dollars in Nebraska to qualify for the incentives.

The company is developing the Elk Creek Project in southeast Nebraska, which is expected to produce niobium, scandium, and titanium, with potential rare earth production. The project is projected to generate approximately $6.59 billion in operating expenses over its lifetime and create around 450 permanent direct jobs.

"Nebraska has stood behind the Elk Creek Project from the very beginning, and this is another clear demonstration of that commitment," said Mark A. Smith, NioCorp's Chairman and CEO.

The Nebraska legislature enacted the bill on April 10, 2026, as part of broader tax incentive legislation for businesses and projects statewide. State Senator Bob Hallstrom of Syracuse sponsored the provision affecting NioCorp, while Revenue Committee Chairman Brad von Gillern supported the measure.

According to company estimates, the project is expected to support an additional 2,100 jobs throughout the broader Nebraska economy and generate significant new tax revenue for the state and local counties.

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