December 2, 2021
CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) Board approved nine companies that will receive $12 million in tax abatements. In return these companies are required to create 469 jobs in the next two years at an average weighted hourly wage of $25.22. That figure is expected to grow to 735 in five years. Additionally, these companies will make a capital investment of $145 million in the first two years of operation and generate $59 million in net new tax revenues over the next 10 years.
“I would like to welcome these new companies to Nevada and commend those who are expanding,” said Governor Steve Sisolak, who chairs the GOED Board. “We are moving Nevada forward. Since January of 2019, the 75 companies that have received abatements will create 11,341 jobs over five years. These companies are making a $2 billion capital investment and will generate more than $1 billion in new net tax revenues over the next decade.”
Six of the nine companies receiving abatements are new. Three others are expanding their operations. Five of the companies are in Clark County.
“We have had a very productive year coming out of the pandemic,” said GOED Executive Director Michael Brown. “After having 16 companies approved for abatements in September, the GOED Board approved nine more companies today. The companies choosing Nevada are making a major investment in our state. I am also encouraged by the quality of the jobs they are creating.”
The companies approved for abatement today include:
- Envases Commerce, LLC is a new metal cans manufacturing (food and beverage) company in Clark County. It will receive $7.5 million in tax abatements. It will be required to create 73 jobs in the first two years of operation at an average weighted hourly wage of $24.05. It is expected to grow to 150 jobs in five years. This company will make $75.5 million in capital investment within the first two years of operation and generate $13.6 million in net new tax revenues over 10 years.
- Evanesce, Inc. is a new manufacturer of compostable food packaging containers (molded starch products) and a global leader in sustainable packaging solutions in Clark County. It will receive $1 million in tax abatements. It will be required to create 54 jobs in the first two years of operation at an average weighted hourly wage of $24.19. It is expected to grow to 114 jobs in five years. This company will make $10.1 million in capital investment within the first two years of operation and generate $6.9 million in net new tax revenues over 10 years.
- LiniCo Corporation is a new lithium battery recycling company in Storey County. It will receive $618,836 in tax abatements. It will be required to create 30 jobs in the first two years of operation at an average weighted hourly wage of $35.96. It is expected to grow to 72 jobs in five years. This company will make $6 million in capital investment within the first two years of operation and generate $4.1 million in net new tax revenues over 10 years.
- Local Bounti Corporation is a new indoor farming technology company that implements computer-aided engineering technology in Douglas County. It will receive $1 million in tax abatements. It will be required to create 65 jobs in the first two years of operation at an average weighted hourly wage of $26.69. This company will make $10.5 million in capital investment within the first two years of operation and generate $10.7 million in net new tax revenues over 10 years.
- Stericycle, Inc. is a new company that specializes in disposing medical waste and other regulated medical substances in Storey County. It will receive $974,795 in tax abatements. It will be required to create 38 jobs in the first two years of operation at an average weighted hourly wage of $22.71. It is expected to grow to 42 jobs in the first five years of operation. This company will make $25.2 million in capital investment within the first two years of operation and generate $5.6 million in net new tax revenues over 10 years.
- Smithfield Foods doing business as Saratoga Food Specialties is an expansion of an existing company in Clark County. It will receive $938,727 in tax abatements. It will be required to create 56 jobs in the first two years of expansion at an average weighted hourly wage of $20.02. This company will make $16.7 million in capital investments within the first two years of expansion and generate $4.6 million in net new tax revenues over 10 years.
- Purtec, Inc. is an expansion of a company in Clark County that designs, develops, markets, and sells cybernetic purification technology. It will receive $66,866 in tax abatements. It will be required to create 25 jobs in the first two years of expansion at an average weighted hourly wage of $40.56. It is expected to grow to 75 jobs in five years. This company will make $87,000 in capital investment within the first two years of expansion and generate $4.8 million in net new tax revenues over 10 years.
- Rapid Response Monitoring Services, Inc. is a new data and security monitoring company in Clark County. It will receive $213,183 in tax abatements. It will be required to create 118 new jobs in the first two years of operation at an average weighted hourly wage of $22.75. It is expected to grow to 148 jobs in five years. This company will make $1 million in capital investment within the first two years of operation and generate $7.1 million in net new tax revenues over 10 years.
- The Design Factory, LLC is the expansion of an existing specialized design services company in Clark County. It will receive $14,351 in tax abatements. It will be required to create 10 new jobs in the first two years of expansion at a weighted average hourly wage of $27.14. It is expected to grow to 13 jobs in five years. This company will make $94,800 in capital investment within the first two years of expansion and generate $1.4 million in net new tax revenues over 10 years.
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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, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.