FOR IMMEDIATE RELEASE
March 21, 2024
Contact: Carli Smith, c.smith@goed.nv.gov (775) 687-9903
Director of Communications
March 21, 2024
CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) approved two companies that will receive $13,224,749 in tax abatements. In return, these companies are projected to create 504 jobs in the next two years at an average hourly wage of $25.48. That figure is expected to grow to 551 jobs in five years. Additionally, these companies will make a capital equipment investment of $170,420,219 and generate $140,255,324 in new tax revenues over the 10-year abatement period.
“Investing in Nevada’s economic future is one of our top priorities, and my administration remains committed to fostering a thriving business environment that attracts investment and creates jobs,” said Governor Joe Lombardo. “The hundreds of new jobs announced today will continue to build on the thousands of new jobs and billions in new economic investment we’ve generated since last year.”
One of the companies receiving an abatement is in Clark County and the other is in Storey County. The companies approved for abatements today include:
Excel Inc. dba DHL Supply Chain (USA) plans to establish two distribution centers in North Las Vegas. The company is the leading contract logistics provider in North America providing air, road, ocean, and rail freight services. It was approved for $1,693,133 in tax abatements. It is projected to create 494 jobs in the first two years of operation at an average weighted hourly wage of $24.79. It is expected to grow to 524 jobs in five years. This company will make $20,420,219 in capital equipment investment in the first two years of operation and generate $57,737,380 in new tax revenues over the 10-year abatement period.
Vantage Data Centers NV11, LLC is looking to build a colocated data center facility in Storey County. The facility will provide data center services such as installing and maintaining network resources, data center security, monitoring systems, and power and cooling infrastructure. It was approved for $11,531,616 in tax abatements. It is projected to create 10 jobs in the first two years of operation at an average weighted hourly wage of $59.62. It is expected to grow to 27 jobs in five years. This company will make $150,000,000 capital equipment investment in the first two years of operation and generate $82,517,944 in new tax revenues over the 10-year abatement period.
During today’s meeting, GOED’s Director of Entrepreneurship Kyeema Peart provided an update to board members about the new division and what it hopes to accomplish in its first year of installment. Leveraging GOED’s strong service to existing businesses, the Office of Entrepreneurship provides essential statewide support to new and small businesses, who realize the majority of job gains across the economy. Through close community consultation, a resource portal, data dashboard and underserved community partnerships, the office will coordinate and collate resources for successful innovation and small business development in every region of Nevada. Recommendations will be made back to Legislature in November 2024, according to AB77 stipulations.
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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.