NV: Las Vegas Global Economic Alliance OKs Incentives for a Host of Firms
15 Jul, 2013
Continuing with the goal of reducing the state’s unemployment rate and promoting its business friendly environment, the Governor's Office of Economic Development Board of Nevada approved a series of incentives for companies planning to relocate or expand into Southern Nevada.
Among the notable incentives approved were:
· eBay, the world's largest online marketplace was approved for expansion incentives for Storey and Clark counties. More than $2,100 of goods are purchased and sold on eBay every second. eBay will be expanding upon its significant data center infrastructure in Nevada.
· Barbour Well Inc., specializing in drilling oil production wells and large diameter geothermal wells was approved for tax incentives for its capital investment of $2,800,000. Babour Well Inc. will offer six jobs to operate an additional drilling rig and related equipment with an average hourly rate at $20.18.
· CSI PrePrint, LLC, a project development and operational services company specializing in corrugated packaging, was approved for tax incentives for its capital investment of $14.5 million. CSI PrePrint, LLC will offer 22 jobs with an average hourly rate at $27.86.
· SolarCity, a national leader in clean energy services was approved for tax incentives for its capital investment of $3,270,805. SolarCity was approved for part two of its incentives. The company has already hired 40 people and will be hiring 50 more in the coming weeks. Ultimately, SolarCity will employ over 900 people. Currently operating 31 centers in 14 states, SolarCity’s list of notable clients include Stanford University, the U.S. Armed Forces, the Department of Homeland Security, eBay, Intel and Walmart.
· BodyBuilding.com, the largest online sports nutrition company in the world was approved for tax incentives for its capital investment of $1.6 million to use toward the creation of a warehouse and distribution center. Bodybuilding.com will offer 90 jobs with average hourly wages at $13.06.
· Consumer Portfolio Services, an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories was approved for tax incentives for its capital investment of $540,850. Consumer Portfolio Services will offer 75 jobs with an average hourly rate at $33.75. Consumer Portfolio Services is moving its headquarters to Nevada. It’s a publicly traded company on Nasdaq.
· Creative Tent International, a tension fabric structure design and manufacturing company, was approved for tax incentives for its capital investment of $1,039,260. Creative Tent International will offer 76 jobs with an average hourly rate at $19. With over 50 years of experience in design, manufacturing and service, the company’s primary revenues are derived from the supplying of fabric to the U.S. military.
· Pathion Inc., an energy solutions company, was approved for $200,000 in Catalyst Funds. Pathion Inc. will offer 54 jobs with average hourly wages at $49. Pathion, which is relocating from the Bay Area, makes advanced lithium batteries based on research at Los Alamos labs. The company came to Nevada because of a researcher that works at UNLV, Dr. Yusheng Zhao, and because the State of Nevada has one of the most substantial lithium resources in the world. Pathion partnered with K2 batteries and UNLV to get a very competitive ARPA-E grant. ARPA-E is the Department of Energy's Advanced Research Projects agency. They will hire post-docs from UNLV and will be the 4th lithium-ion battery company to do business in Nevada.
LVGEA President and Chief Executive Officer Tom Skancke said: “Having these companies enter Southern Nevada is a feather in the cap for the state. With our current unemployment rate down two percent compared to the same time last year, we’re pleased to work towards additional economic growth and assist companies wanting to call Nevada their home.”
Nevada Governor’s Office of Economic Development Director Steve Hill added: “We continue to see exceptional companies, attracted by all that our state has to offer, bring and grow great jobs for Nevadans. The diversity of the companies, and the breadth of reasons for why they chose Nevada, was remarkable. Each company pointed out that our business-friendly environment and available incentives were key reasons for their decision, but many also mentioned our quality of life, the available workforce, and both the quality of graduates from our university system and the potential for research partnerships with UNLV and UNR.”
About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance is a 501(c)6 membership organization dedicated to diversifying the economy in Southern Nevada and building the foundations for long-term economic growth. For more information, call 702.791.0000 or visit www.lvgea.org. The Las Vegas Global Economic Alliance is located in The Rob Roy inNEVation Center.
Switch is the world’s most reliable technology ecosystem, in the country’s safest desert. Switch is a Nevada-based technology ecosystem that includes the Switch SuperNAP, a 407,000-square-foot facility that houses the servers of Google, VMWare, HP, Intuit, eBay, Zappos, and many more. The SuperNAP has gained global attention through its use of patented technology to house servers at a density that far surpasses industry standards, with additional safeguards provided by armed security and Las Vegas’ unique geography as a city free from natural disasters. The company provides colocation, connectivity and cloud services, all on an expansive technology campus in Las Vegas. Switch also powers the inNEVation Center – the first public/private economic diversification effort of its kind. For more on Switch, visit switchlv.com or contact Kristi Overgaard at firstname.lastname@example.org.
About the Rob Roy InNEVation Center
The Rob Roy inNEVation Center is the first public/private economic diversification effort of its kind. It was developed by Rob Roy, the Founder and CEO of Switch, Nevada’s most successful tech start-up to date. The more than 40,000-square-foot center is a COWORKING environment where start-ups and entrepreneurs (inNEVators) converge with business luminaries, political leaders, and investors (COLLABORATORS) to launch and nurture new ventures. It’s also a thriving business community complete with networking opportunities and educational and promotional events held at a state-of-the-art venue. The inNEVation Center is powered by Switch, the Las Vegas-based technology superpower whose globally dominant SuperNAP provides 100% secure uptime for the servers of Google, VMWare, HP, Intuit, eBay, Zappos, and 462 others. For more on the inNEVation Center, visit inNEVation.com or contact Richard Ethington at email@example.com.