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Abated Companies Will Invest $164 million and generate $147 Million in Taxes for Nevada

Six Companies Expected to Create 750 Jobs in Five Years with Weighted Hourly Wage of $25.17 

CARSON CITY, Nev. – The Nevada Governor’s Office of Economic Development (GOED) Board approved six companies that will receive $16,253,161 in tax abatements. In return these companies are required to create 750 jobs in the next two years at an average weighted hourly wage of $25.17. That figure is expected to grow to 1,786 in five years. Additionally, these companies will make a capital investment of $164,139,469 in the first two years of operation and generate $147,256,586 in net new tax revenues over the next 10 years.

“We are working hard to bring companies to Nevada that are creating good jobs,” said Governor Steve Sisolak. “Since January of 2019, the 80 companies that have received abatements will create 11,727 jobs over five years. These companies are making $2.1 billion in capital investments and will generate $1.1 billion in new net tax revenues over the next decade.”

Five of these companies that received abatements are new while one is expanding its operations.

“The caliber of these companies is very high,” said Michael Brown, GOED Executive Director. “We are seeing major manufacturers moving here that will continue to diversify our economy. We have another company starting up in Lyon County that will contribute to the emerging Lithium mining and production industry in the state.”

The companies approved for abatement today include:

  • Haas Automation, Inc. was approved for the Economic Development Rate Rider (EDRR) Program, for its planned manufacturing facility in Clark County. The company was approved for a 5MW EDRR allocation. Pursuant to NRS Chapter 704.7876, the Office, in consultation with the Public Utilities Commission of Nevada, can grant the Lead Participant a Certificate of Eligibility for an EDRR for discounts to be applied for eight years on rates for up to 25 megawatts of power capacity used by the Company within the Project Site pursuant to a contract with a term of 10 years See Exhibit A (GOED Board approved application). This EDDR application is supplemental to the company’s approval, for tax abatements, for the same project in 2019. Phase one of the project will include more than 2.3 million square feet of warehouse, manufacturing offices and showroom space. The company’s main product line consists of CNC machine tools. As per the company’s 2019 application, it will receive $10.5 million in tax abatements. It will be required to create 500 jobs in the first two years of operation at an average weighted hourly wage of $24.04. It is expected to grow to 1,400 in five years. The company will make $100 million in capital investment within the first two years of operation and generate $112.2 million in net new tax revenues over 10 years.
  • Airgas Safety, Inc. is a leading national supplier of industrial, medical, and specialty gasses, as well as welding hard goods, related products and consumables in Clark County. It will receive $362,882 in tax abatements. It will be required to create 55 jobs in the first two years of operation at an average weighted hourly wage of $23.10. It is expected to grow to 66 jobs in five years. This company will make $3.6 million in capital investment within the first two years of operation and generate $3.9 million in net new tax revenues over 10 years.
  • ENTEK Manufacturing, LLC designs, manufactures, and installs twin screw co-rotating extruders, wear parts, and turnkey plants for energy storage, biopolymers, and products made with recycled plastics for the building industry in Clark County. It will receive $1 million in tax abatements. It will be required to create 53 jobs in the first two years of operation at an average weighted hourly wage of $29.44. It is expected to grow to 73 in five years. The company will make $10.8 million in capital investment within the first two years of operation and generate $5.7 million in net new tax revenues over 10 years.
  • Stellar Snacks, LLC is a woman owned startup in Washoe County. The company is an end-to-end snack manufacturer and provides services from R&D to end distribution. Stellar Snacks is considering an expansion to its existing Nevada operations. It will receive $1.8 million in tax abatements. It will be required to create 58 jobs in the first two years of operation at an average weighted hourly wage of $28.32. It is expected to grow to 133 in five years. The company will make $23.4 million in capital investment within the first two years of operation and generate $12.3 million in net new tax revenues over 10 years.
  • Western Ceramics Company 1, LLC is a subsidiary of Lilac Solutions, Inc. Lilac is a leading lithium extraction technology company based in Oakland, Calif., focused on the development of technology and materials to produce lithium products. The company is considering establishing a 450,000 square foot facility in Lyon County. It will receive $2.3 million in tax abatements. It will be required to create 24 jobs in the first two years of operation at an average weighted hourly wage of $43.63. It is expected to grow to 86 in five years. The company will make $25.1 million in capital investment within the first two years of operation and generate $8.3 million in net new tax revenues over 10 years.
  • Society Manufacturing LLC is a producer, distributor, and wholesaler of cosmetic products with plans to update its building to include space for offices, distribution, and fulfillment in Clark County. It will receive $162,357 in tax abatements. It will be required to create 60 jobs in the first two years of operation at an average weighted hourly wage of $25.50. It is expected to grow to 90 in five years. The company will make $1 million in capital investment within the first two years of operation and generate $4.6 million in net new tax revenues over 10 years.

 

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