By Todd Dewey / Las Vegas Review-Journal Contact: tdewey@reviewjournal.com
The Nevada Governor’s Office of Economic Development has approved $19.8 million in tax abatements for nine companies that will make a combined capital equipment investment of $186.9 million and generate $60.6 million in new tax revenues over the 10-year abatement period.
The companies, including five in Southern Nevada, are projected to create 534 jobs in the next five years at an average hourly wage of $42.46. Review Journal
“More Nevadans will soon access high-paying jobs thanks to these new investments,” Nevada Gov. Joe Lombardo said in a statement. “My administration is dedicated to driving economic growth by breaking down barriers and providing companies with a clear path to expand here.” Review Journal
Three of the nine companies are located in North Las Vegas:
Edgewood Renewables LLC, represented by the Las Vegas Global Economic Alliance, plans to establish a biofuel manufacturing facility in North Las Vegas. The company manufactures drop-in renewable gasoline produced from feedstocks such as dairy renewable natural gas and ethanol, and is expected to make $138.7 million in capital equipment investment in its first two years of operation while generating nearly $17 million in tax revenue. Review Journal
Forge Industries has developed a sustainable manufacturing model that converts non-recyclable waste into alternative fuel for industrial use. The company plans to establish a 105,000-square-foot facility in North Las Vegas and make $13.9 million in capital equipment investment. Review Journal
Taylor Print and Visual Impressions Inc., a wholly owned subsidiary of Taylor Corp. — one of the largest graphic communications companies in North America — plans to expand its existing North Las Vegas facility with a $5 million capital equipment investment. Review Journal
“North Las Vegas continues to strengthen its position as a hub for advanced manufacturing, clean energy and innovative technology, and we are proud to welcome the continued growth and investment from companies like Edgewood Renewables, Forge Industries and Taylor Print,” North Las Vegas Mayor Pamela Goynes-Brown said. “Each of these organizations brings quality jobs, new capital investment and long-term economic opportunity to our community.” Review Journal
Also among the Southern Nevada companies, Nuance Medical LLC plans to expand its existing Nevada operations based in Henderson and is expected to create 37 jobs at an average wage of $37.05 per hour, with $589,000 in capital equipment investment in the first two years and $3 million in new taxes over the 10-year abatement period. 8 News Now
Four additional companies are expanding in Northern Nevada:
Valeo North America Inc. will expand its manufacturing facility in Storey County, expected to create 180 jobs at an average hourly wage of $31.28. Taurus Fabrication Inc. plans to establish a manufacturing facility in Carson City, creating 49 jobs at an average of $44.58 per hour. TechCore PVA LLC will establish a manufacturing facility in Douglas County, creating 29 jobs at $38.87 per hour. AVK Elastomer Technology LLC is continuing construction of its manufacturing facility in Minden, adding 18 jobs at $36.83 per hour. 8 News Now