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CARSON CITY – The Nevada Governor’s Office of Economic Development (GOED) approved 11 new tax abatements this week that it says will generate more than $90 million in tax revenue over the next decade.
The tax abatements are given to companies as an incentive to help them make a decision to do business in Nevada. In addition to the tax revenue the companies will generate for the state, GOED officials say the businesses will help to diversify the economy and create 1,991 new jobs that are high-skilled and good-paying.
The companies that were approved for abatements by the GOED Board include:
- Acorn Pulp Group, LLC, in Washoe County received a an estimated $616,706 in tax abatements but will produce an estimated $4,073,084 million in tax revenues over the next 10 years. The company will initially create 54 jobs at an average wage of $24.33 per hour. The estimated economic impact over the next 10 years is $340,433,164 with 119 jobs.
- American Battery Technology Company in Lyon County received an estimated $1,331,016 in tax abatements but will produce $7,544,803 million in tax revenues over the next 10 years. The company will initially create 50 jobs at an average wage of $45.47 per hour. The estimated economic impact over the next 10 years is $348,467,751 with 89 jobs. This project will also make a capital equipment investment of $18,091,250 with an estimated 160 construction jobs.
- Beyond Meat, Inc., in Washoe County received an estimated $4,390,290 in tax abatements but will produce $13,488,036 million in tax revenues over the next 10 years. The company will initially create 135 jobs at an average wage of $23.61 per hour and make an initial capital equipment investment of $42.2 million. The estimated economic impact over the next 10 years is $903,162,299 that includes 343 jobs.
- Centerline Structural Innovations, Inc., of Washoe County received an estimated $348,806 in tax abatements but will generate an estimated $9,118,430 in tax revenues over the next 10 years. The company will initially create 55 jobs at an average wage of $37.44 per hour. The estimated economic impact over the next 10 years is $451,930,521 that includes 261 jobs. This project will also make a capital equipment investment of $3,351,051 and create an estimated 18 construction jobs.
- GigaCrete, Inc., of Clark County received an estimated $454,337 in tax abatements but will produce $3,116,263 in tax revenues over the next 10 years. The company will initially create 25 jobs at an average wage of $26.10 per hour. The estimated economic impact over the next 10 years is $114,693,517 that includes 70 jobs. This project will also make a capital equipment investment of $5,967,600.
- Lithion Battery, Inc., of Clark County received an estimated $533,869 in tax abatements but will produce $2,916,142 in tax revenues over the next 10 years. The company will initially create 22 jobs at an average wage of $30.41 per hour. The estimated economic impact over the next 10 years is $140,921,666 that includes 65 jobs. This project will also make a capital equipment investment of $5,179,049
- Nanotech Energy Inc., of Washoe County received an estimated $20,716,652 in tax abatements but will produce $21,840,024 in tax revenues over the next 10 years. The company will initially create 57 jobs at an average wage of $30.56 per hour. The estimated economic impact over the next 10 years is $586,085,854 that includes 302 jobs. This project will also make a capital equipment investment of $260,150,000 and create an estimated 171 construction jobs.
- Safe Life Defense, LLC of Clark County received an estimated $288,532 in tax abatements but will produce $12,853,427 in tax revenues over the next 10 years. The company will initially create 50 jobs at an average wage of $24.59. The estimated economic impact over the next 10 years is $526,300,998 that includes 377 jobs. This project will also make a capital equipment investment of $2,319,300 and create an estimated 18 construction jobs.
- SAMSARG, Inc., of Lyon County received an estimated $126,646 in tax abatements but will produce $6,417,240 in tax revenues over the next 10 years. The company will initially create 25 jobs at an average wage of $53.88 per hour. The estimated economic impact over the next 10 years is $725,722,245 that includes 180 jobs in addition to an estimated 46 construction jobs.
- Sonoma Creamery LLC of Washoe County received an estimated $696,713 in tax abatements but will produce $5,841,253 in tax revenues over the next 10 years. The company will initially create 50 jobs at an average wage of $24.40 per hour. The estimated economic impact over the next 10 years is $349,840,323 that includes 117 jobs. This project will also make a capital investment of $6,238,412 .
- ZLINE Kitchen and Bath, LLC of Washoe County received an estimated $69,333 in tax abatements but will produce $2,998,317 in tax revenues over the next 10 years. The company will initially create 25 jobs at an average wage of $26.86 per hour. The estimated economic impact over the next 10 years is $80,199,234 that includes 77 jobs. This project will also make a capital equipment investment of $593,894 and create an estimated four construction jobs.
