June 18, 2024
CARSON CITY, Nev. – The Governor’s Office of Economic Development (GOED) has facilitated Nevada’s receipt of the 2024 Silver Shovel Award from Area Development Magazine. This award acknowledges state economic development agencies that have demonstrated significant success in attracting new business investment and job creation.
Redwood Materials, a GOED-assisted company, was highlighted as a key factor in securing the award. The company’s battery materials facility in Storey County is set to inject $1.1 billion in capital investments into Nevada’s economy. Founded by JB Straubel, Redwood Materials aims to address a critical gap in Nevada’s ‘lithium loop’ and the broader United States by establishing a circular supply chain that minimizes the environmental impact and cost of lithium-ion batteries.
At its 300-acre Battery Materials Campus in the Tahoe-Reno Industrial Center, Redwood recycles, refines, and remanufactures battery materials. This facility provides large-scale sources of sustainable battery materials produced domestically for the first time. In less than two years since its inception, the campus processes over 30,000 tons annually of end-of-life batteries and production scrap.
“This is a testament to the state’s accomplishments in attracting and retaining businesses and creating good job opportunities,” said Tom Burns, executive director of GOED. “Redwood Materials is a leader in sustainability and a prime example of the type of innovative, forward-thinking companies flourishing here in Nevada. I also want to acknowledge the incredible work done by our Deputy Director Bob Potts whose instrumental efforts were key in getting this project across the finish line. His expertise and dedication were vital to this achievement.”
The 19th annual Gold and Silver Shovel awards presented by Area Development Magazine recognize America’s top economic development projects, emphasizing exceptional efforts in attracting new jobs and capital investment to states.
GOED remains committed to fostering economic growth and innovation. The Silver Shovel Award serves as both recognition of past successes and motivation for future endeavors.
To read more about the award, visit Area Development Magazine’s website.
About the Governor’s Office of Economic Development:
Created during the 2011 session of the Nevada Legislature, GOED resulted from collaboration between the Nevada Legislature and the Governor’s Office to restructure economic development within the state. GOED’s role is to promote a robust, diversified economy in Nevada by stimulating business expansion and retention, encouraging entrepreneurial enterprise, attracting new businesses, and facilitating community development.
About Area Development Magazine:
Your leadership and hard work have played pivotal roles in fostering an environment that attracts new businesses while supporting existing enterprises’ growth and sustainability. Strategic initiatives, innovative policies, and collaborative efforts have yielded significant economic benefits deserving national recognition. We were particularly impressed with your Redwood Materials battery project in Storey County.
The Silver Shovel Award reflects your state’s commitment to creating a prosperous economic landscape through focused economic development strategies. We commend your dedication to enhancing quality of life for Nevada residents while creating opportunities that bolster local communities.
We are excited to feature Nevada in our second-quarter issue where we will explore specific projects earning this honor. Your story showcases potential growth through strategic economic development efforts.
Expect further communication regarding award presentation details and magazine coverage as we celebrate your achievements with readers nationwide.
Congratulations on this well-deserved recognition; we anticipate continued excellence under your leadership.
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