GRAND ISLAND, Neb. (AP) — A new tool has been created to help entrepreneurs flourish in the Grand Island area.

The Central Nebraska Growth Foundation will receive and disburse contributions aimed at economic development. It was founded by the Grand Island Area Economic Development Corp.

Foundation Chairman Bill Westering says the foundation represents “a very long-term opportunity for Grand Island — way beyond our lifetimes.”

The foundation will give successful entrepreneurs a tax-deductible way to help future business growth in the community. And it will help up-and-coming entrepreneurs find assistance for their new ideas, new machinery and new products.