The Nevada Governor’s Office of Economic Development (GOED) has approved more than $11.2 million in tax abatements for seven companies operating in Washoe County and Clark County. In exchange, these companies are expected to create 696 jobs over the next five years, with an average hourly wage of $43.08. The firms plan to invest about $144 million in capital equipment and are projected to generate over $82 million in new tax revenues during the ten-year abatement period.
Governor Joe Lombardo commented on the decision, stating: “The seven companies that have been approved today for abatements will generate hundreds of high-paying jobs and millions in investment into Nevada. These investments reflect our ongoing commitment to creating good-paying jobs for Nevadans and building a strong, diverse economy in our state.”
GOED was established as a result of collaboration between the Nevada Legislature and the Governor’s Office during the 2011 legislative session. Its mission is to encourage business growth, attract new enterprises, support entrepreneurship, and foster community development throughout Nevada.