The Nevada Governor’s Office of Economic Development (GOED) has approved tax abatements totaling $13,224,749 for two companies. In exchange, these companies are expected to create 504 jobs over the next two years with an average hourly wage of $25.48. This number is projected to increase to 551 jobs within five years. Additionally, the companies will invest $170,420,219 in capital equipment and generate $140,255,324 in new tax revenues over a decade.
Governor Joe Lombardo emphasized the importance of economic investment in Nevada, stating: “Investing in Nevada’s economic future is one of our top priorities, and my administration remains committed to fostering a thriving business environment that attracts investment and creates jobs.” He noted that the newly announced jobs would contribute to ongoing economic growth in the state.
The first company receiving an abatement is Excel Inc., operating as DHL Supply Chain (USA), which plans to establish two distribution centers in North Las Vegas. Approved for $1,693,133 in tax abatements, it aims to create 494 jobs within two years at an average hourly wage of $24.79. The company expects this figure to rise to 524 jobs over five years. Excel Inc. will invest $20,420,219 in capital equipment during its initial two years and generate $57,737,380 in new tax revenue over ten years.
Vantage Data Centers NV11, LLC is the second company approved for abatements and plans to build a colocated data center facility in Storey County. It received approval for $11,531,616 in tax abatements and anticipates creating 10 jobs initially at an average hourly wage of $59.62. This number is expected to grow to 27 jobs within five years. Vantage Data Centers will invest $150 million in capital equipment during its first two years and produce $82,517,944 in new tax revenue over ten years.
At the meeting where these decisions were made, GOED’s Director of Entrepreneurship Kyeema Peart updated board members on the new division’s goals for its first year. The Office of Entrepreneurship aims to support small businesses statewide through community consultation and resource coordination efforts. Recommendations will be presented back to the Legislature by November 2024 as per AB77 stipulations.
The Governor’s Office of Economic Development was established during the 2011 session of the Nevada Legislature with a mission to promote economic growth across the state by encouraging business expansion and retention.
