Three companies plan to create 206 high-paying, high-quality jobs in the Greater Vegas region over the next two years after being approved for state tax incentives during the Nevada Governor’s Office of Economic Development (GOED) quarterly board of directors meeting.
Indigo Pharmaceutical plans to establish a new pharmaceutical manufacturing operation in the Las Vegas Medical District, Rechargeable Power Energy is expanding its existing Clark County battery manufacturing facility, and Tranzonic Companies will expand its Nevada presence with a facility in North Las Vegas.
“LVGEA, together with its partners, are strategically targeting industries that not only bring high-paying jobs to the region, but also help diversify our region’s economy,” said Tina Quigley, president and CEO of the Las Vegas Global Economic Alliance. “We are excited to see a pharmaceutical company recognizing the value the Las Vegas Medical District offers for its local expansion, and to see a local battery manufacturer expanding in its backyard as part of the state’s growing lithium loop.”
During its quarterly meeting today, the GOED board approved tax incentives for a total of five companies relocating or expanding throughout the state, including the three companies in Southern Nevada. These five companies will make a capital investment of $22.2 million in the first two years and generate $34.5 million in net new state tax revenues over the next 10 years.
“These companies expanding into Nevada nicely reflect the economic development plan that GOED recently released,” said Tom Burns, GOED Executive Director. “We believe that realizing Nevada’s electric, innovative, and connected future provides a roadmap for state leadership to leverage Nevada’s assets, build upon its emerging growth, diversification, and innovation, and ensure inclusive growth.”
Alongside its municipal partners in Clark County, City of North Las Vegas, and City of Las Vegas, Las Vegas Global Economic Alliance (LVGEA) provided support and guidance to these companies throughout the tax abatement approval process, which supports economic development and diversification efforts throughout the state.
Learn more about the companies approved for abatements today in Greater Vegas:
Indigo Pharmaceutical, LLC — 100 jobs, $34.20 average wage, Pharmaceutical Manufacturing
Indigo Pharmaceutical plans to establish a pharmaceutical research, development, and manufacturing facility within the Las Vegas Medical District. The company manufactures ready-to-use syringes and single-use intravenous (IV) bags for hospitals, office-based practices, and veterinary practices. The company noted it selected Las Vegas because of its proximity to major transportation hubs, a high influx of educated workers, major educational institutions in the region, and the positive tax environment. The company’s long-term plans include building a full manufacturing facility in Nevada.
“We are excited Indigo Pharmaceutical chose the Las Vegas Medical District,” said Las Vegas Mayor Carolyn G. Goodman. “The District continues to grow and provide medical services to the community, and we are happy to welcome Indigo and the new jobs the company will provide.”
Rechargeable Power Energy, North America, LLC — 88 jobs, $28.50 average wage, Battery Manufacturing
Rechargeable Power Energy is a leading provider of cutting-edge rechargeable energy solutions that manufactures solar generators, battery systems, chargers, and OEM batteries. The company plans to expand its existing Clark County facility from 8,000 square feet to 20,000 square feet within the next few months. The company’s intent is to expand its U.S. service center to support the increasing demand for lithium applications and establish a Safe Battery Service Center in Nevada that can support any lithium application and provide new and improved alternative lithium solutions.
“I want to thank Rechargeable Power Energy for their continued confidence in Clark County as a place to call home and do business,” said Clark County Commissioner Michael Naft, District A. “The ability for Rechargeable Power Energy to expand their energy storage manufacturing facilities and add over 85 new jobs is a testament to their hard work and dedication to a more sustainable future. Clark County is proud of the success Rechargeable Power Energy has achieved in our community and how they shine bright beyond the lights.”
Tranzonic Companies — 18 jobs, $28.28 average wage, Manufacturing & Distribution
Tranzonic Companies is a national manufacturer and distributor of cleaning, maintenance, and absorbent products for commercial applications, headquartered in Cleveland, Ohio. The company plans to expand its Nevada presence through a new facility in North Las Vegas within the next few months.
“The City of North Las Vegas continues to solidify our legacy as the ideal location for companies looking to build, expand or relocate to an affordable, vibrant, business-friendly community,” said North Las Vegas Mayor Pamela Goynes-Brown. “We are excited Tranzonic Companies have chosen North Las Vegas as the new hub for their next manufacturing and distribution facility. Every company that chooses to build or expand their operations in North Las Vegas helps us further diversify our economy, brings new opportunities to our residents, and creates a positive economic impact in terms of capital investments.”
About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance (LVGEA) is a public-private partnership dedicated to growing the economy of the Greater Vegas region through intentional business attraction, expansion, and connectivity. LVGEA has been designated as one of eight Regional Development Authorities (RDA) in Nevada by the Governor’s Office of Economic Development (GOED) for 2022-2023. To learn more, visit lvgea.org.