GOED approves tax abatements to draw eight companies to Nevada

The Governor’s Office of Economic Development has approved tax abatements to draw eight businesses to the Silver State including for Foot Locker Retail to invest in a Washoe County plant.
The other seven businesses are slated to open in Clark County.
Gov. Steve Sisolak said all of the recipients are “high-quality companies creating good jobs for Nevadans.” He said the fact that seven of the eight are going to Clark County will help diversify that area’s hospitality-based economy.
Foot Locker will receive $2.7 million in tax abatements over 10 years. In return, the company will invest $26.8 million in capital equipment within the first two years of operating its distribution center and create 212 jobs.
A spokesman for GOED said the company has a “weighted hourly wage” of $21.49 and is expected to generate $13.8 million in tax revenue over 10 years.
The other companies receiving tax breaks include Tapestry Inc., which will get $2.9 million in breaks to bring a new distribution center to the south, Nutrition Corp., a new food manufacturer that will receive $1.3 million in tax breaks, JAND, Inc., a new eyeglasses maker, Pitney Bowes Presort Services, Spreetail which is expanding an existing distribution center, Sunshine Minting, an existing precious minerals maker, and TCP Global which will also bring a new distribution center to Clark County.


Use the comment form below to begin a discussion about this content.

Sign in to comment