The Nevada Governor’s Office of Economic Development has approved $19.8 million in tax abatements for nine companies that will make a capital equipment investment of $186.9 million and generate $60.6 million in new tax revenues over the 10-year abatement period.
The companies, including five in Southern Nevada, are projected to create 534 jobs in the next five years at an average hourly wage of $42.46.
“More Nevadans will soon access high-paying jobs thanks to these new investments,” Nevada Gov. Joe Lombardo said in a statement. “My administration is dedicated to driving economic growth by breaking down barriers and providing companies with a clear path to expand here. With this approach, we will continue working toward lasting, sustainable economic strength.”
Three of the companies are located in North Las Vegas, led by Edgewood Renewables LLC, represented by Las Vegas Global Economic Alliance (LVGEA), which plans to establish a biofuel manufacturing facility in the city. The company, which manufactures drop-in renewable gasoline produced from renewable feedstocks such as dairy renewable natural gas and ethanol, is expected to make $138.7 million in capital equipment investment in the first two years of operation and generate nearly $17 million in tax revenue.
The other two companies in North Las Vegas are Forge Industries and Taylor Print & Visual Impressions Inc.
Forge Industries has developed an innovative, sustainable manufacturing model that converts non-recyclable waste into alternative fuel for industrial use. The company plans to establish a 105,000-square-foot facility in the city and make $13.9 million in capital equipment investment.
Taylor Print & Visual Impressions, which plans to expand its existing North Las Vegas facility and make $5 million in capital equipment investment, operates as a wholly owned subsidiary of Taylor Corp., one of the largest graphic communications companies in North America.
“North Las Vegas continues to strengthen its position as a hub for advanced manufacturing, clean energy and innovative technology, and we are proud to welcome the continued growth and investment from companies like Edgewood Renewables, Forge Industries and Taylor Print,” North Las Vegas Mayor Pamela Goynes-Brown said in a statement. “Each of these organizations brings quality jobs, new capital investment and long-term economic opportunity to our community. Their decision to expand and build here reflects the strength of our workforce, our infrastructure and our commitment to supporting business success at every stage. We look forward to seeing their impact grow as they become an even greater part of the fabric of North Las Vegas.”
Redapt Inc., represented by LVGEA, plans to establish a headquarters and technology facility in Southern Nevada that will serve as a key strategic hub to develop and distribute products around the world. It is expected to create 100 jobs at an average hourly wage of $76.59 within five years.
Nuance Medical LLC, represented by LVGEA, plans to expand its existing Nevada operations. The company is currently headquartered in Carlsbad, Calif., and has a related company already operating in Henderson.
Here are the other abated companies:
— AVK Elastomer Technology LLC, represented by Northern Nevada Development Authority (NNDA), which is continuing construction of its manufacturing facility in Minden
— Taurus Fabrication Inc., represented by NNDA, which plans to establish a manufacturing facility in Carson City
— TechCore PVA LLC, represented by NNDA, which plans to establish a manufacturing facility in Douglas County
— Valeo North America Inc., represented by NNDA, which plans to expand its manufacturing facility in Storey County and is expected to create 180 jobs at an average hourly wage of $31.28 within five years
Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on X.
