NV: Two Businesses to Create 49 Jobs Thanks to Incentives
24 Mar, 2014
TH Foods, Inc. expects to create 25 jobs as it adds a $19.7 million production line to its Henderson facility, building on operations established there in July 2012. Advanced Refining Concepts, LLC, a Reno-based company, is creating 24 jobs with its expansion. Those new employees will be split between the company’s existing operations in Northern Nevada and a new North Las Vegas manufacturing facility, where the company will expand operations to refine its “Gdiesel” product made with methane derived from natural gas or waste biogas sources.
The company expects to invest $2.8 million for purchase of land and a building at the new North Las Vegas site. Advanced Refining Concepts also announced $2 million in equipment purchases for its facilities in Northern and Southern Nevada.
Advanced Refining Concepts said Thursday that it chose to expand to Southern Nevada over Utah or Arizona because of Nevada’s business tax structure, labor force availability and, most importantly, the state incentive program. Together, the two companies will provide a direct and indirect economic impact of over $100 million during the next five years, according to the IMPLAN economic model. Additionally, the two companies are expected to generate $1.5 million in state and local taxes during the same period.
Advanced Refining Concepts, LLC received $191,743 in combined sales, modified business, and personal property tax abatements. The State Board of Economic Development approved TH Foods, Inc., for $1.2 million in sales tax abatements.
“The Las Vegas Global Economic Alliance would like to thank Terri Sheridan, economic development administrator for North Las Vegas, Jeffrey Leake, economic development manager at the City of Henderson and Chris Zunis of LVGEA for assisting with the expansions of TH Foods, Inc. and Advanced Refining Concepts, LLC.,” said Jonas Peterson, Chief Operating Officer at the Las Vegas Global Economic Alliance. “This collaboration makes regional economic development possible.”
About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance is a 501(c)6 membership organization dedicated to growing the economy in Southern Nevada through connectivity, community development, and strong business recruitment, retention and outreach. LVGEA’s vision is to help Southern Nevada residents thrive in a global economy by fostering a more prosperous, diverse and connected regional economy. For more information, call 702.791.0000 or visit www.lvgea.org. The LVGEA is located in The Rob Roy inNEVation Center in Las Vegas.
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The Rob Roy inNEVation Center
The inNEVation Center is a philanthropic effort by Switch SUPERNAP and its CEO and founder Rob Roy to support economic diversification in Nevada. As the leader of Nevada’s most successful tech startup, Rob Roy is committed to paying forward the success of Switch SUPERNAP. His passion for a more diverse Nevada economy led him to create The inNEVation Center to foster collaboration between Nevada entrepreneurs, business leaders, mentors, educators and government agencies.
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