(KLZA)-- NioCorp Developments Chairman and CEO Mark Smith is thanks Nebraska Governor Jim Pillen, Nebraska Legislature Revenue Committee Chairman Brad von Gillern and 1st District State Senator Bob Hallstrom and the Nebraska Legislators for supporting LB 1165 which will give NioCorp greater flexibility in qualifying for approximately $200 million over 10 years in state tax benefits while the company invests hundreds of millions of dollars in Nebraska and creates approximately 450 full-time equivalent jobs in the state.

LB 1165 included a range of tax incentives for businesses and projects statewide. For NioCorp, the legislation extends the period during which companies like NioCorp must meet Tier 6 Nebraska Advantage Act employment and investment requirements. 
The signing of this legislation is the latest in a series of actions by Nebraska's state government in support of the Elk Creek Project, which is expected to create approximately 450 permanent direct jobs in southeast Nebraska, generate significant new tax revenue for the state and its counties, and support an estimated 2,100 additional jobs throughout the broader Nebraska economy.

In addition, the project is expected to have a $1.1 billion payroll over the life of the mine; pay more than $600 million in state and local taxes and pay landowners with land where the mine will be located $300 million.