The Nevada Governor’s Office of Economic Development (GOED) has approved $6.5 million in tax abatements. In return, these companies are projected to create 48 jobs in the next five years at an average hourly wage of $33. Additionally, these companies will make a capital equipment investment of $71.7 million and generate $18 million in new tax revenues over the 10-year abatement period.
“Nevada continues to position itself as a leader in attracting businesses that drive economic growth,” said Governor Joe Lombardo. “By supporting companies that bring high-quality jobs and significant capital investment, we are strengthening our economy and creating new job opportunities for Nevadans. I am proud to support these companies that are choosing to grow and innovate here, and I look forward to seeing their positive impact on Nevada’s economy and workforce.”
Companies receiving abatements are in Washoe, Clark and Douglas County. The companies approved for abatements today include:
- CADC Reno 265, LLC, introduced by Economic Development Authority of Western Nevada (EDAWN), plans to establish a colocated data center facility in Washoe County. CADC is part of the CENTRA Digital family, which is reimagining the digital infrastructure landscape and empowering carrier, cloud and content partners – called “C3” – through new, state-of-the-art, neutral connectivity hubs in high-demand, high-growth markets. The company was approved for $5 million in abatements and is expected to create 11 jobs at an average hourly wage of $36 within five years. CADC is expected to make $58 million in capital equipment investment in the first five years of operation and generate $9 million in new taxes over the next 10 years.
- Findlay Machine & Tool, LLC dba Kreate, introduced by Las Vegas Global Economic Alliance (LVGEA), is in the process of establishing a West Coast production and distribution facility in City of North Las Vegas. Kreate is a world-class plastic products design, engineering and manufacturing company established in 2018, producing a variety of products for the retail market. The company was approved for $1.2 million in abatements and is expected to create 61 jobs at an average hourly wage of $33 within five years. The company is expected to make $11.5 million in capital equipment investment in the first two years of operation and generate $6.5 million in new taxes over the next 10 years.
- Orbinox America Inc., introduced by Northern Nevada Development Authority (NNDA), plans to establish a manufacturing facility in Douglas County. Orbinox, a global leader in knife gate valve manufacturing, has over 50 years of expertise in designing, producing, and marketing industrial valves, slide gates, dampers, and hydraulic works solutions. The company was approved for $193,000 in abatements and is expected to create 34 jobs at an average hourly wage of $33 within five years. The company is expected to make $2 million in capital equipment investment in the first two years of operation and generate $2.4 million in new taxes over the next 10 years.
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.
Contact:
Carli Smith
Director of Communications
c.smith@goed.nv.gov
775.687.9903
