Nevada awarded Area Development Magazine’s 2024 Silver Shovel

GOED-assisted company Redwood Materials highlighted as a major economic win

FOR IMMEDIATE RELEASE                                                                                                                               

Contact: Evan Haddad
Public Information Officer
ehaddad@goed.nv.gov (775) 684-9973

June 18, 2024

 

CARSON CITY, Nev. – Work from the Governor’s Office of Economic Development (GOED) has helped Nevada win a 2024 Silver Shovel Award, an accolade recognizing state economic development agencies that have achieved significant success in attracting new business investment and job creation.

GOED-assisted company Redwood Materials, whose battery materials facility in Storey County will contribute $1.1 billion in capital investments in Nevada’s economy, was cited by Area Development Magazine as an important element to winning the award. Redwood Materials, founded by JB Straubel, is addressing a critical materials processing gap in Nevada’s ‘lithium loop’ and the broader United States by creating a circular supply chain that reduces the environmental footprint and cost of lithium-ion batteries. At its 300-acre Battery Materials Campus in the Tahoe-Reno Industrial Center, Redwood recycles, refines, and remanufactures battery materials, offering large-scale sources of sustainable battery materials produced domestically for the first time. Redwood’s recycling and refining processes are the United States’ first commercial-scale facilities of their kind. In less than two years since it broke ground, the campus is already processing over 30,000 tons a year of end-of-life batteries and production scrap.

“This is a testament to the state’s accomplishments in attracting and retaining businesses and creating good job opportunities,” said Tom Burns, executive director of GOED. “Redwood Materials a leader in sustainability and a prime example of the type of innovative, forward-thinking companies flourishing here in Nevada. I also want to acknowledge the incredible work done by our Deputy Director Bob Potts whose instrumental efforts were key in getting his project across the finish line. His expertise and dedication were vital to this achievement.”

The 19th annual Gold and Silver Shovel awards, presented by Area Development Magazine, highlight America’s top economic development projects, highlighting exceptional efforts in attracting new jobs and capital investment to the state.

GOED remains committed to fostering economic growth and innovation. The Silver Shovel Award serves as both a recognition of past successes and a motivator for future endeavors.

To read more about the award, visit Area Development Magazine’s website.

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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.

 

About Area Development Magazine

Your leadership and the hard work of your economic development team have played a pivotal role in fostering an environment that not only attracts new businesses but also supports the growth and sustainability of existing enterprises. The strategic initiatives, innovative policies, and collaborative efforts in your state have yielded significant economic benefits, marking a milestone that deserves national recognition. We were particularly impressed with your Redwood Materials battery project in Storey.

The Silver Shovel Award reflects your state’s commitment to creating a prosperous economic landscape and your success in building a vibrant, diverse economy. We commend your dedication to enhancing the quality of life for the residents of Nevada and creating opportunities that bolster local communities.

We are excited to feature Nevada in the 2Q issue of Area Development Magazine, where we will delve into the specific projects and initiatives that have earned your state this honor. Your story is a beacon for others, showcasing the potential for growth and prosperity through focused economic development strategies.

Please expect further communication from our team regarding the details of the award presentation and the coverage in our magazine. We are looking forward to celebrating your state’s achievements and sharing your success story with our readers across the nation.

Congratulations once again on this well-deserved recognition. We anticipate continued excellence and innovation in Nevada’s economic development efforts and are excited to see what the future holds under your leadership.

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