June 17, 2021
CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) Board today approved eight companies that will receive $8.9 million in tax abatements. In return these companies are projected to create 2,002 jobs at an average wage of $25 in the next five years. Additionally, these companies will produce $121.3 million in tax revenue in the next 10 years and make an $84.1 million capital equipment investment in the first two years of operation.
“These are high-quality companies creating good jobs for Nevadans,” said Governor Steve Sisolak, who chairs the GOED Board. “I am thrilled that seven of these companies will be based in Clark County, which will help diversify the regional economy that has been the hardest hit in the state by the pandemic.”
The companies approved for abatement today include:
- Foot Locker Retail, Inc., is a new distribution and fulfillment company in Washoe County. It will receive $2.7 million in tax abatements over 10 years. It will create an estimated 212 jobs in the first five years of operation at an average weighted hourly wage of $21.49. This company will make $26.8 million in capital equipment investment within its first two years of operation and generate $13.8 million in tax revenue over 10 years.
- JAND, Inc., is a new eyeglasses manufacturer in Clark County. It will receive $379,106 in tax abatements over 10 years. It will create an estimated 210 jobs in the first five years of operation at an average weighted hourly wage of $18.42. This company will make $6.1 million in capital equipment investment within the first two years of operation and generate $9.6 million in tax revenue over 10 years.
- Nutrition Corp. is a new food manufacturer in Clark County. It will receive $1.3 million in tax abatements over 10 years. It will create an estimated 650 jobs in the first five years of operation at an average weighted hourly wage of $22.42. This company will make $7.3 million in capital equipment investment within the first two years of operation and generate $36.4 million in tax revenue over 10 years.
- Pitney Bowes Presort Services, LLC is a new distribution and fulfillment company in Clark County. It will receive $519,627 in tax abatements over 10 years. It will create an estimated 170 jobs in the first five years of operation at an average weighted hourly wage of $24.61. This company will make $5 million in capital equipment investment within the first two years of operation and generate $8.4 million in tax revenue over 10 years.
- Spreetail, LLC is the expansion of an existing distribution and fulfillment company in Clark County. It will receive $311,299 in tax abatements over 10 years. It will create an estimated 200 jobs in the first five years of expansion at an average weighted hourly wage of $26.66. This company will make a $2.2 million capital equipment investment within the first two years of expansion and generate $12.5 million in tax revenue over 10 years.
- •Sunshine Minting, Inc., is the expansion of an existing precious minerals manufacturing company in Clark County. It will receive $368,880 in tax abatements over 10 years. It will create an estimated 217 jobs in the first five years of expansion at an average weighted hourly wage of $21.38. This company will make a $3.2 million capital equipment investment within the first two years of expansion and generate $14.1 million in tax revenue over 10 years.
- Tapestry Inc. is a new distribution and fulfillment company in Clark County. It will receive $2.9 million in tax abatements over 10 years. It will create an estimated 188 jobs in the first five years of operation at an average weighted hourly wage of $26.88. The company will make a $31 million capital equipment investment within the first two years of operation and generate $14.4 million in tax revenue over 10 years.
- TCP Global Corporation is a new distribution and fulfillment company in Clark County. It will receive $403,202 in tax abatements over 10 years. It will create an estimated 155 jobs in the first five years of operation at an average weighted hourly wage of $38.90. The company will make a $2.5 million capital equipment investment within the first two years of operation and generate $12.3 million in tax revenue 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. More information on the Governor’s Office of Economic Development can be viewed at diversifynevada.com.