Abated Companies will Invest $274 Million and Generate $115 Million in Tax Revenue

FOR IMMEDIATE RELEASE

 

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

 

September 12, 2023

 

CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) approved seven companies that will receive $30,701,667 in tax abatements. In return, these companies are projected to create 491 jobs in the next two years at an average weighted hourly wage of $42.36. That figure is expected to grow to 738 jobs in five years. Additionally, these companies will make capital investments of $273,998,515 and generate $115,334,375 million in new tax revenues over the 10-year abatement period.

“Nevada’s incentives continue to attract capital investment and create jobs,” said Governor Joe Lombardo. “We have a company in Storey County investing $236 million and another in Clark County creating 280 jobs at an average weighted hourly wage of $54.83. Since January, we have assisted 17 companies that will create 4,477 jobs in their first five years of operation. They have invested $3.9 billion in capital investment and will generate $939 million in new tax revenues.”

Three of the companies receiving abatements are in Clark County, two of them are in Storey County, one is in Washoe County, and another is in Churchill County. The companies approved for abatements today include:

  • Idaho Asphalt Supply, Inc. has plans to build a comprehensive plant in Churchill County. The plant will produce, supply, and distribute asphalt cement, slurry seal and other asphalt emulsion products to support construction and road construction in Nevada and other Western states. It was approved for $739,116 in tax abatements. It is projected to create 20 jobs in the first two years of operation at an average weighted hourly wage of $30.95. It is expected to grow to 99 jobs in five years. This company will make $7,409,120 in capital equipment investment in the first two years of operation and generate $6,194,802 in new tax revenues over the 10-year abatement period.
  • Juanita’s Foods plans to establish a 300,000 square foot manufacturing facility in Clark County. Juanita’s is a Mexican food manufacturer of canned and frozen traditional foods and is the world’s largest manufacturer of canned Menudo and a product line including hominy, sauces, stews, and other high-quality Mexican food. It was approved for $2,275,585 in tax abatements. It is projected to create 144 jobs in the first two years of operation at an average weighted hourly wage of $37.97. It is expected to grow to 149 jobs in five years. This company will make $20,550,002 in capital equipment investment in the first two years of operation and generate $19,286,157 in tax revenues over the 10-year abatement period.
  • Novva Reno, LLC is planning to establish a 300,000 square foot data center facility in Storey County. This 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 $26,540,013 in tax abatements. It is projected to create 13 jobs in the first five years of operation at an average weighted hourly wage of $32.55. This company will make $236,989,692 in capital equipment investment in the first five years of operation and generate $29,954,547 in new tax revenues over the 10-year abatement period.
  • ArbiTech, LLC is considering establishing a 50,275 square foot headquarters, distribution, and fulfilment facility in Clark County. Arbitech has become the world’s leading independent distributor of data center products. It was approved for $165,788 in tax abatements. It is projected to create 54 jobs in the first two years of operation at an average weighted hourly wage of $38.61. It is expected to grow to 84 jobs in five years. This company will make $1,053,915 in capital equipment investment in the first two years of operation and generate $8,564,238 in tax revenues over the 10-year abatement period.
  • Arcadia Cold Reno, LLC plans to establish a 238,603 square foot cold storage facility in Sparks. Arcadia specializes in providing third-part handling, storage, distribution and value-added services to the food industry. It was approved for $334,160 in tax abatements. It is projected to create 75 jobs in the first two years of operation at an average weighted hourly wage of $30.87. It is expected to grow to 88 jobs in five years. This company will make $2,819,105 in capital equipment investment in the first two years of operation and generate $10,778,378 in tax revenues over the 10-year abatement period.
  • Skillz, Inc. has established a 54,480 square foot facility in Clark County. Skillz is an online mobile multiplayer video game competition platform that is integrated into several iOS and Android games. It was approved for $429,304 in tax abatements. It is projected to create 175 jobs in the first two years of operation at an average weighted hourly wage of $54.83. It is expected to grow to 280 jobs in five years. This company will make $1,125,680 in capital equipment investment in the first two years of operation and generate $38,033,014 in tax revenues over the 10-year abatement period.
  • Symbia Fulfillment Services of NV, LLC plans to expand into a 320,000 square foot building in the Waltham Industrial Park in Storey County. Symbia is a family-owned warehousing and fulfillment provider. It was approved for $217,701 in tax abatements. It is projected to create 10 jobs in the first two years of operation at an average weighted hourly wage of $29.37. It is expected to grow to 25 jobs in five years. This company will make $4,051,000 in capital equipment investment in the first two years of operation and generate $2,523,239 in tax revenues over the 10-year abatement period.

 

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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.

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