Last week, Nevada Governor's Office of Economic Development (GOED) approved five companies to receive tax incentive. The five companies will make a capital investment of $22.2 million in the first two years and generate $34.5 million in net new state tax revenues over the next 10 years. Three out of the five companies are in Southern Nevada and plan to create 206 jobs in the greater Las Vegas region over the next two years.
Indigo Pharmaceutical plans to establish a new pharmaceutical manufacturing operation in the Las Vegas Medical District, Rechargeable Power Energy is expanding its existing Clark County battery manufacturing facility, and Tranzonic Companies will expand its Nevada presence with a facility in North Las Vegas.
Indigo Pharmaceutical, LLC — 100 jobs, $34.20 average wage, Pharmaceutical Manufacturing
Indigo Pharmaceutical manufactures ready-to-use syringes and single-use intravenous (IV) bags for hospitals, office-based practices, and veterinary practices. The company’s long-term plans include building a full manufacturing facility in Nevada.
Rechargeable Power Energy, North America, LLC — 88 jobs, $28.50 average wage, Battery Manufacturing
Rechargeable Power Energy plans to expand its existing Clark County facility from 8,000 square feet to 20,000 square feet within the next few months. The company’s intent is to expand its U.S. service center to support the increasing demand for lithium applications and establish a Safe Battery Service Center in Nevada that can support any lithium application.
Tranzonic Companies — 18 jobs, $28.28 average wage, Manufacturing & Distribution
Tranzonic Companies is a national manufacturer and distributor of cleaning, maintenance, and absorbent products for commercial applications, headquartered in Cleveland, Ohio. The company plans to expand its Nevada presence through a new facility in North Las Vegas within the next few months.
“LVGEA, together with its partners, are strategically targeting industries that not only bring high-paying jobs to the region, but also help diversify our region’s economy,” said Tina Quigley, president and CEO of the Las Vegas Global Economic Alliance, one of eight Regional Development Authorities (RDA) in Nevada designated by the Governor’s Office of Economic Development for 2022-2023.“We are excited to see a pharmaceutical company recognizing the value the Las Vegas Medical District offers for its local expansion, and to see a local battery manufacturer expanding in its backyard as part of the state’s growing lithium loop.”
