Abated companies will invest $22 million and generate $34.5 million in tax revenue

FOR IMMEDIATE RELEASE

Contact: Gregory Bortolin, 
Director of Communications
grbortolin@goed.nv.gov (775) 687-9917

 

June 29, 2023

CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) approved
five companies that will receive $2,246,263 in tax abatements. In return, these companies are projected
to create 235 jobs in the next two years at an average weighted hourly wage of $31.91. That figure is
expected to grow to 605 in five years. Additionally, these companies will make capital investments of
$22,234,309 in the first two years of operation and generate $34,514,879 in new tax revenues over the
10-year abatement period.

“Nevada continues to attract quality companies who are creating good jobs,” said Governor Joe
Lombardo. “Since the beginning of my term, Nevada has issued 10 abatements that will create 3,739
jobs over five years. These companies are making $3,675,365,079 in capital investment and will
generate $838,277,610 in new tax revenues during the abatement periods.”

Three of the companies receiving abatements are in Clark County and two of them are in Storey County.
“These companies expanding into Nevada nicely reflect the GOED economic development plan that
GOED recently released,” said Tom Burns, GOED Executive Director. “We believe that realizing
Nevada’s electric, innovative, and connected future provides a roadmap for state leadership to leverage
Nevada’s assets, build upon its emerging growth, diversification, and innovation, and ensure inclusive
growth.”

The companies approved for abatement today include:

• Indigo Pharmaceutical, LLC plans to establish a Pharmaceutical Research, Development and
Manufacturing facility in Clark County. The company focuses on the areas of clinical practice
with the highest demand for compounded pharmaceuticals. It was approved for $1,456,062 in
tax abatements. It is projected to create 100 jobs in the first two years of operation at an
average weighted hourly wage of $34.20. This company will make $13,203,084 in capital
equipment investment within the first two years of operation and generate $12,356,745 in new
tax revenues over the 10-year abatement period.

• Pallas Industries, Inc., is considering Storey County as a location for a new 21,500 square foot
propulsion development and aerospace and defense manufacturing center. This center will
develop, produce, and test solid rocket motors for the next generation of advanced American
missiles and interceptors. It was approved for $33,895 in tax abatements. It is projected to
create 12 jobs in the first two years of operation at an average weighted hourly wage of $45.67.
It is expected to grow to 297 jobs in five years. This company will make $307,500 in capital
equipment investment within the first two years of operation and generate $5,350,524 in new
tax revenues over the 10-year abatement period.

• Rechargeable Power Energy North America LLC plans to expand its existing Clark County
facility from 8,000 square feet to 20,000 square feet within the next few months. RPE
manufactures and supplies solar generators, battery systems, chargers, and OEM batteries
through online stores. They also seek to provide a lithium battery solution for all new high power equipment, to ensure these applications are safer and last longer. It was approved for
$164,212 in tax abatements. It is projected to create 88 jobs in the first two years of operation
at an average weighted hourly wage of $28.50. It is expected to grow to 104 jobs in five years.
This company will make $906,890 in capital equipment investment within the first two years of
operation and generate $7,264,539 in new tax revenues over the 10-year abatement period.

• Tranzonic Companies will be expanding its existing Clark County manufacturing and distribution
facility from 136,207 square feet to 397,740 square feet within the next few months. The
company’s existing facility focuses on the production of paper products that includes a portfolio
of cleaning, maintenance, absorbents, and personal protection products. It was approved for
$227,517 in tax abatements. It is projected to create 18 jobs in the first two years of operation
at an average weighted hourly wage of $28.28. It is expected to grow to 48 jobs in five years.
This company will make $2,736,835 in capital equipment investment within the first two years
of operation and generate $8,112,302 in new tax revenues over the 10-year abatement period.

• Trivium Packaging USA, Inc., plans to grow its metal packaging operation in Storey County to
accommodate customer demand. Trivium is a manufacturer of innovative, sustainable, reliable,
and customizable metal recyclable products. It was approved for $364,577 in tax abatements. It
is projected to create 17 jobs in the first two years of operation at an average weighted hourly
wage of $30.29. It is expected to grow to 56 jobs in five years. The company will make
$5,080,000 in capital equipment investment within the first two years of operation and
generate $1,430,769 in new tax revenues over the 10-year abatement period.

###

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.

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