Builders Choice, a truss-manufacturing company set to open on Lake Drive in Silver Springs, has received the support of the Lyon County Board of Commissioners for $142,642 worth of tax abatements.
According to the company's application, the abatements include $127,850 on sales and use tax on equipment purchases worth $2,841,100; $14,792 modified business-tax abatement for 40 employees at $15.01 per hour; and a 50 percent abatement over 10 years for $2,841,100 worth of personal property.
In an abatement, a taxing board grants a taxpayer relief from paying a tax for a certain period of time.
The final decision on the tax-abatement request will be made in two weeks by the Nevada Commission on Economic Development.
According to Larry Trippet, development manager for the Northern Nevada Development Authority, the payback of the requested abatement is about three months, based on the economic impact.
The company estimated the total economic impact of the truss- manufacturing business will be about $5.4 million.
The company is expected to open in the spring with about 25 employees. That will eventually increase to 40 employees when the plant is operational and eventually to 300 employees, according to company owner Don Ogden. The average wage will be $15.02 and include health insurance, a 401(k) retirement plan, profit-sharing and other benefits.
n Contact reporter Karen Woodmansee at email@example.com or 882-2111, ext. 351.