LVGEA Announces Prominent Companies Approved for Incentives
(Las Vegas) — The Governor’s Office of Economic Development Board for Nevada approved a series of incentives today for companies planning to relocate or expand into Southern Nevada. Cumulatively, the seven applications could generate more than 1,000 jobs in the Las Vegas community over time.
The approvals come at a time when the Las Vegas Global Economic Alliance is experiencing an uptick in business movement and expansion into the Las Vegas area as companies seek a healthier tax climate and more business-friendly environment.
“These approvals are a great start to what the rest of the year has to come,” said LVGEA President and Chief Executive Officer Tom Skancke. “The entire economic development community worked together on the catalyst fund applications before the GOED board today, something that has not been done before. Working together as a region shows that you can get a lot done when we all work as a single unit. Our competition is the world, not each community.”
Among the notable incentives approved today were:
- A Nevada Catalyst Fund to SolarCity in the amount of up to $1.2 million to encourage the growing company to open a new office facility in the greater Las Vegas area. SolarCity is still in the final stages of its site selection process. SolarCity is a leading provider of clean energy and expects to create hundreds of jobs in the state over the next several years.
- Nicholas & Co. was also approved for a Nevada Catalyst Fund for up to $625,000. Nicholas & Co. is also looking at multiple locations throughout the west for the site of a large food distribution facility.
- American Roll Form was approved for Tax Incentives for its capital investment of $251,685. American Roll Form will be located in North Las Vegas and offer 23 jobs with average hourly wages at $21.47.
- Chelten House Products Inc. was approved for Tax Incentives for its capital investment of $16,690,977. Chelten House Products Inc. has recently located to North Las Vegas and will offer 41 jobs with average hourly wages at $28.68.
- California Republic Bank was approved for Tax Incentives for its capital investment of $1,020,000. California Republic Bank will be located in South Nevada and offer 76 jobs with average wages at $19.90.
- TH Foods Inc. was approved for Expansion Incentives for its capital investment of $16,477,750. TH Foods Inc. will be offering 24 jobs with average wages at $13.26.
About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance, previously known as the Nevada Development Authority, is Southern Nevada’s premier economic development agency. For 57 years, it has continued to diversify and improve the economy of Southern Nevada. For more information, call 702.791.0000 or visit www.www.lvgea.org.