Six companies approved for $16 million in tax abatements

Six companies approved for $16 million in tax abatements
Nevada desert. Photo by Johannes Plenio on Unsplash

CARSON CITY — The board of Nevada’s Governor’s Office of Economic Development this week approved $16 million in tax abatements for six companies that will create 750 jobs in the state over the next two years. Officials said they expect that number of jobs to more than double over the next five years to nearly 1,800 jobs.

The average weighted wage of the new jobs is just over $25 per hour.

Five of the companies are new to Nevada, and one is expanding its operations.

“We are working hard to bring companies to Nevada that are creating good jobs,” said Governor Steve Sisolak. “Since January of 2019, the 80 companies that have received abatements will create 11,727 jobs over five years. These companies are making $2.1 billion in capital investments and will generate $1.1 billion in new net tax revenues over the next decade.”

In addition to bringing jobs, the companies are expected to make capital investment of just over $164 million in their first two years of operation. They’re also expected to generate more than $147 million in new tax revenues in the next decade.

The companies approved for the abatements include:

  • Haas Automation, Inc., a CNC machine tools company, plans to open a manufacturing facility in Clark County. The 2.3 million-square-foot facility will include a warehouse, manufacturing offices and showroom. The company will hire for 500 jobs in the first two years of operation and make $100 million in capital investment.
  • Airgas Safety, Inc., a specialty gasses and welding hardgoods company, will create 55 jobs over the next two years in Clark County. During that time it will make $3.6 million in capital investment.
  • ENTEK Manufacturing, LLC, designs, which provides turnkey plant expansion services, including design, manufacturing and install, will create 53 jobs in its first two years and make $10.8 million in capital investment.
  • Stellar Snacks, LLC, is a startup snack manufacturer and distributor in Washoe County. The company is expected to create 58 jobs over the next two years and make $23.4 million in capital investment during that time.
  • Western Ceramics Company 1, LLC, focuses on the development of technology and materials to produce lithium products. It is considering establishing a 450,000-square-foot facility in Lyon County that would create 24 jobs in the first two years and involve a $25.1 million capital investment.
  • Society Manufacturing LLC, a cosmetic products company, will expand its distribution and fulfillment facilities in Clark County. Through this expansion it will create 60 jobs in the first two years and make $1 million in capital investment.

Source: GOED