GOED approves another round of tax abatements to spur job creation

CARSON CITY–The Governor’s Office of Economic Development said Thursday that it continues to focus on generating new jobs within the state to replace some 50,000 potentially lost during the pandemic. One tool GOED officials have used at least four times already since the start of the pandemic is tax abatements to entice businesses to relocation or expand in the state.

This week another round of tax abatements was approved totaling $46 million for 16 companies.

Within the next two years the companies are required to create 1,432 jobs at an hourly wage of $31.83 and are expected to make capital equipment investments of $490 million.  More than 2,400 jobs are expected to result from the investments over the next five years.

“I would like to welcome these great companies to Nevada who are making a major investment in our economy,” said Governor Steve Sisolak. “As we look to reskill workers whose jobs were displaced during the pandemic, these companies are creating skilled jobs with competitive wages.”

GOED officials said they expect the companies to generate $256 million in net new tax revenues in the next decade.

Thirteen of the companies approved for abatements are in Clark County, two are in Lyon County and one in Storey County.

The companies approved for abatement are:

• Accurate Manufactured Products Group is a new distribution and fulfillment company of fasteners and hardware in Clark County. It will receive $112,614 in tax abatements over 10 years. It will be required to create 22 jobs in the first two years of operation at an average weighted hourly wage of $27.64. It is expected to grow to 28 jobs in five years. This company will make $1.1 million in capital equipment investment within its first two years of operation and generate $1.9 million in tax revenue over 10 years.
• Applied Manufacturing, LLC is a new manufacturing company of medical devices in Clark County. It will receive $493,878 in tax abatements over 10 years. It will be required to create 54 jobs in the first two years of operation at an average weighted hourly wage of $22.77. It is expected to grow to 174 jobs in five years. This company will make $5.1 million in capital equipment investment within its first two years of operation and generate $10.9 million in tax revenue over 10 years.
• Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care, and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball is new to Clark County. It will receive $17.5 million in tax abatements over 10 years. It will be required to create 178 jobs in the first two years of operation at an average weighted hourly wage of $33.65. It is expected to grow to 222 jobs in five years. This company will make $176 million in capital equipment investment within its first two years of operation and generate $39.8 million in tax revenue over 10 years.
• CAE SimuFlite, Inc. is a new flight training services company in Clark County. It will receive $5.3 million in tax abatements over 10 years. It will be required to create 78 jobs in the first two years of operation at an average weighted hourly wage of $54.96. It is expected to grow to 87 jobs in five years. This company will make $61.5 million in capital investment within its first two years of operation and generate $11.3 million in tax revenue over 10 years.
• Crown Cork and Seal USA, Inc. is a new manufacturing company of food and beverage metal cans in Clark County. It will receive $8.4 million in tax abatements over 10 years. It will be required create 126 jobs in the first two years of operation at an average weighted hourly wage of $26.18. This company will make $84.6 million in capital equipment investment within its first two years of operation and generate $26.3 million in tax revenue over 10 years.
• Flowers Baking Company of Henderson, LLC is the expansion of an existing manufacturing company of baked goods food in Clark County. It will receive $2.2 million in tax abatements over 10 years. It will be required to create 66 jobs in the first two years of operation at an average weighted hourly wage of $24.85. It is expected to grow to 88 jobs in five years. This company will make $30.3 million in capital equipment investment within the first two years of operation and generate $7.6 million in tax revenue over 10 years.
• Haddington Dynamics Inc. is the expansion of a custom computer research and development headquarters in Clark County. It will receive $712,205 in tax abatements over 10 years. It will be required to create 99 jobs in the first two years of operation at an average weighted hourly wage of $61.30.  It is expected to grow to 363 jobs in five years. The company will make $4.9 million in capital equipment investment within its first two years of operation and generate $31.6 million in tax revenue over 10 years.
• Motional AD, Inc. is the expansion of an automotive research and development headquarters in Clark County. It will receive $407,869 in tax abatements over 10 years. It will be required to create 111 jobs in the first two years of operation at an average weighted hourly wage of $34.92. It is expected to grow to 203 jobs in five years. The company will make $3.5 million in capital equipment investment within its first two years of operation and generate $15.1 million in tax revenue over 10 years.
• NeuroVu Studios is a new video production studios services company in Clark County. It will receive $461,352 in tax abatements over 10 years. It will be required to create 20 jobs in the first two years of operation at an average weighted hourly wage of $32.03. It is expected to grow to 33 jobs in five years. The company will make $5.2 million in capital equipment investment within its first two years of operation and generate $2.3 million in tax revenue over 10 years.
• Northern Nevada 3PL, LLC is a footwear distribution and fulfillment company in Lyon County. It will receive $99,731 in tax abatements over 10 years. It will be required to create 30 jobs in the first two years of operation at an average weighted hourly wage of $21.83. It is expected to grow to 60 jobs in five years. The company will make $2.4 million in capital equipment investment within its first two years of operation and generate $7.4 million in tax revenue over 10 years.
• Nuro, Inc. is a new automatic research and development headquarters in Clark County. It will receive $493,579 in tax abatements over 10 years. It will be required to create 250 jobs in the first two years of operation at an average weighted hourly wage of $27.50. It is expected to grow to 370 jobs in five years. The company will make $1.9 million in capital equipment investment within its first two years of operation and generate $25.5 million in tax revenue over 10 years.
• RIBUS, Inc. is a new vitamins and supplements manufacturing company in Storey County. It will receive $201,574 in tax abatements over 10 years. It will be required to create 10 jobs in the first two years of operation at an average weighted hourly wage of $27.40. It is expected to grow to 16 jobs in five years. The company will make $2 million in capital equipment investment within its first two years of operation and generate $507,826 in tax revenue over 10 years.
• SAMSARG, Inc. is a new aircraft parts, manufacturing, and maintenance company in Lyon County. It will receive $180,750 in tax abatements over 10 years. It will be required to create 25 jobs in the first two years of operation at an average weighted hourly wage of $32.88. It is expected to grow to 147 jobs in five years. The company will make $1.2 million in capital equipment investment within its first two years of operation and generate $6.1 million in tax revenue over 10 years.
• The Kroger Co. is a new grocery distribution and fulfillment company in Clark County. It will receive $3.8 million in tax abatements over 10 years. It will be required to create 207 jobs in the first two years of operation at an average weighted hourly wage of $26.53, specific to this facility. It is expected to grow to 414 jobs in the first five years of operation. The company will make $40.9 million in capital equipment investment within its first two years of operation and generate $48.9 million in tax revenue over 10 years.
• T-Mobile USA, Inc. is a new customer service center in Clark County. It will receive $489,802 in tax abatements over 10 years. It will be required to create 69 jobs in the first two years of operation at an average weighted hourly wage of $26.68. The company will make $5 million in capital equipment investment within its first two years of operation and generate $9.8 million in tax revenue over 10 years.
• Wells Enterprises, Inc. is the expansion of an ice cream and frozen desserts manufacturing company in Clark County. It will receive $4.7 million in tax abatements over 10 years. It will be required to create 87 jobs in the first two years of operation at an average weighted hourly wage of $22.82. The company will make $64.2 million in capital equipment investment within its first two years of operation and generate $11.1 million in tax revenue over 10 years.

Source: GOED