The Nevada Governor’s Office of Economic Development has approved five companies to receive $66,606,731 in tax abatements. In return, these companies are projected to create 152 jobs within the next two years at an average hourly wage of $29.72. This figure is expected to rise to 298 jobs over five years. Additionally, these companies will make a capital equipment investment of $1,039,838,428 and generate $308,224,623 in new tax revenues over the 10-year abatement period.
“Nevada remains dedicated to creating opportunities for business to thrive, and today’s approval is a testament to our proactive approach in attracting and retaining companies,” said Governor Joe Lombardo. “By supporting their growth, we are ensuring our state remains a hub for innovation and economic resilience.”
The companies involved are located in Washoe and Clark counties. The Las Vegas Global Economic Alliance and the Economic Development Authority of Western Nevada played pivotal roles in facilitating the abatements for the companies in Clark and Washoe counties respectively.
About the Governor’s Office of Economic Development:
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada by stimulating business expansion and retention, encouraging entrepreneurial enterprise, attracting new businesses, and facilitating community development.
