The Nevada Governor’s Office of Economic Development (GOED) has approved $500,000 in tax abatements for four companies. In return, these companies are projected to create 254 jobs in the next five years at a weighted average hourly wage of $49. Additionally, these companies will make a capital equipment investment of $3.7 million and generate $42 million in new tax revenues over the 10-year abatement period.
“Nevada is building a vibrant, flexible, forward-thinking economy,” stated Governor Joe Lombardo. “By investing in four dynamic companies across diverse sectors, we’re not just creating over two hundred high-paying jobs; we’re boosting our state’s economy and setting the stage for a sustainable and prosperous future.”
The companies receiving abatements are in Clark County and Storey County:
Cipex International Nevada Limited, introduced by Economic Development Authority of Western Nevada (EDAWN), plans to establish a facility in Storey County for purposes of fulfillment and distribution, as well as headquarters in the region. Cipex specializes in the design, manufacturing, and distribution of high-quality portable staging systems and related equipment. The company was approved for $40,000 in abatements and plans to create 12 jobs at an average wage of $44.50 within five years. Cipex is expected to make a $356,000 capital equipment investment within two years and generate $2.7 million in new taxes over 10 years.
Dealer Tire Holdings LLC dba Dealer Tire LLC, introduced by Las Vegas Global Economic Alliance (LVGEA), plans to establish a distribution and fulfilment facility in Southern Nevada. Dealer Tire is a company that specializes in helping automotive manufacturers and dealers grow their tire and light maintenance businesses. The company was approved for $197,000 in abatements and plans to create 30 jobs within five years at an average wage of $35.50. Dealer Tire is expected to make a $2 million capital equipment investment within the first two years of operation and generate $8.6 million in new tax revenue over 10 years.
Neurogum, Inc., introduced by LVGEA, plans to expand its existing Southern Nevada headquarter operations with the addition of distribution and fulfillment capabilities. NeuroGum is a health and wellness company specializing in functional gum and mints designed to enhance mental performance. Neurogum was approved for $63,000 in abatements and plans to create 62 jobs at an average wage of $40 within five years. The company is expected to make a $300,000 capital equipment investment within two years and generate $5 million in new taxes over 10 years.
Tensorwave, Inc., introduced by LVGEA, plans to establish headquarter operations in Southern Nevada. TensorWave is a deep-tech company aiming to empower AI innovation by delivering scalable and accessible computer solutions. The company was founded in November 2023 and helps businesses leverage the potential of artificial intelligence and develop advanced AI-based software. Tensorwave was approved for $210,000 in abatements and plans to create 150 jobs at an average wage of $58 within five years. The company is expected to make a $1 million capital equipment investment within two years and generate $26 million in new taxes over the 10 years.