Tax incentives to help 3 companies in Southern Nevada
Three companies are projected to add up to 229 jobs in Southern Nevada over the next five years using tax incentives provided by the Governor’s Office of Economic Development.
GOED announced Thursday it awarded five companies, including three in Southern Nevada, a combined $16.3 million in tax abatements and an Economic Development Rate Rider to Haas Automation Inc., or a discount on their energy rate. The companies will create a total of 750 jobs in the next two years at an average weighted hourly wage of $25.77, but the jobs number is expected to grow to 1,786 in five years.
“Since January of 2019, the 80 companies that have received abatements will create 11,727 jobs over five years,” Gov. Steve Sisolak said in a statement. “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.”
The companies approved this week for tax abatements are investing $164.1 million in the first two years of operations, generating $147.3 million in net new tax revenues over the next 10 years, according to GOED.
Michael Brown, GOED’s executive director, said GOED is seeing several companies moving into the state.
“We are seeing major manufacturers moving here that will continue to diversify our economy,” Brown said. “We have another company starting up in Lyon County that will contribute to the emerging lithium mining and production industry in the state.”
The Las Vegas Global Economic Alliance, which works with GOED on the tax incentives, noted that the three companies — ENTEK Manufacturing, Airgas Safety and Society Manufacturing — expanding their presence in Southern Nevada will add 168 jobs in two years with the potential to add 229 over the next five years.
Abatement approvals for the six companies:
Haas Automation Inc.
Awarded tax abatement: $10.5 million
Jobs: 500
Average hourly wage: $24.04
Haas Automation was approved for the Economic Development Rate Rider Program for its planned manufacturing facility in Clark County. The application was supplemental to its 2019 application for tax abatements of $10.5 million. Phase one of its project will include more than 2.3 million square feet of warehouse, manufacturing offices and showroom space. It’s expected to add 1,400 jobs in five years and make $100 million in capital investments in its first two years of operation.
Airgas Safety Inc.
Awarded tax abatement: $362,882
Jobs: 55
Average hourly wage: $23.10
The supplier of industrial, medical and specialty glasses and welding hardgoods is projected to grow to 66 jobs in five years. It will make investments of $3.6 million within two years and generate $3.9 million in net tax revenues over 10 years. Airgas Safety, owned by Air Liquide, plans to open a 220,000-square-foot distribution facility in Henderson.
ENTEK Manufacturing LLC
Awarded tax abatement: $1 million
Jobs: 53
Average hourly wage: $29.44
ENTEK 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. It announced late last year that it was investing $10 million into a 98,000-square-foot manufacturing and engineering facility in Henderson. The company is expected to add 73 jobs in five years.
Stellar Snacks LLC
Awarded tax abatement: $1.8 million
Jobs: 58
Average hourly wage: $28.32
Stellar Snacks in Washoe County is anticipated to fill 133 positions in five years. The startup snack manufacturer is also considering expanding its existing operations in the state. It plans to make $23.4 million in capital investments and generate $12.3 million in net new tax revenues over 10 years.
Western Ceramics Company 1 LLC
Awarded tax abatement: $2.3 million
Jobs: 24
Average hourly wage: $43.63
Western Ceramics is a subsidiary of Oakland, California-based Lilac Solutions Inc. Lilac is a tech firm that focuses on developing technology and materials to produce lithium products. Western Ceramics is looking to settle into a 450,000-square-foot facility in Lyon County. The company expects to grow its staff to 86 in five years.
Society Manufacturing LLC
Awarded tax abatement: $162,357
Jobs: 60
Average hourly wage: $25.50
Society Manufacturing is a cosmetic producer, distributor and wholesaler. It plans to open new office space, and a logistics and distribution center in North Las Vegas. It’s projected to grow to 90 employees in five years and will make $1 million in capital investments within the first two years of operation.
Contact Subrina Hudson at shudson@reviewjournal.com. Follow @SubrinaH on Twitter.
