Nevada Governor’s Office of Economic Development Approved Abated Companies That Will Invest $145 Million and Generate $59 Million In Taxes
The Nevada Governor’s Office of Economic Development (GOED) Board approved nine companies that will receive $12 million in tax abatements. In return these companies are required to create 469 jobs in the next two years at an average weighted hourly wage of $25.22. That figure is expected to grow to 735 in five years. Additionally, these companies will make a capital investment of $145 million in the first two years of operation and generate $59 million in net new tax revenues over the next 10 years.
“I would like to welcome these new companies to Nevada and commend those who are expanding,” said Governor Steve Sisolak, who chairs the GOED Board. “We are moving Nevada forward. Since January of 2019, the 75 companies that have received abatements will create 11,341 jobs over five years. These companies are making a $2 billion capital investment and will generate more than $1 billion in new net tax revenues over the next decade.”
Six of the nine companies receiving abatements are new. Three others are expanding their operations. Five of the companies are in Clark County.
“We have had a very productive year coming out of the pandemic,” said GOED Executive Director Michael Brown. “After having 16 companies approved for abatements in September, the GOED Board approved nine more companies today. The companies choosing Nevada are making a major investment in our state. I am also encouraged by the quality of the jobs they are creating.”
The companies approved for abatement today include:
- Envases Commerce, LLC is a new metal cans manufacturing (food and beverage) company in Clark County.
- Evanesce, Inc. is a new manufacturer of compostable food packaging containers (molded starch products) and a leader in sustainable packaging solutions in Clark County.
- LiniCo Corporation is a new lithium battery recycling company in Storey County.
- Local Bounti Corporation is a new indoor farming technology company that implements computer-aided engineering technology in Douglas County.
- Stericycle, Inc. is a new company that specializes in disposing medical waste and other regulated medical substances in Storey County.
- Smithfield Foods doing business as Saratoga Food Specialties is an expansion of an existing company in Clark County.
- Purtec, Inc. is an expansion of a company in Clark County that designs, develops, markets, and sells cybernetic purification technology.
- Rapid Response Monitoring Services, Inc. is a new data and security monitoring company in Clark County.
- The Design Factory, LLC is the expansion of an existing specialized design services company in Clark County.