Businesses to vie for tax breaks at Lyon meeting
YERINGTON – Two Lyon County businesses are looking to benefit from Nevada’s property and sales tax incentive programs.
Lyon County commissioners on Thursday will consider a request from Quebecor Printing Nevada Inc. for a tax break on new equipment at its Fernley site.
Medallic Art, a Dayton firm, is seeking a 4.5 percent sales-tax break on a new production machine.
Bob Shriver, the county’s economic development director, said Tuesday the tax abatements help bring new industries to the state.
“Nevada is one of the few states that charges a sales and use tax on manufacturing equipment,” Shriver noted. “It is a competitive issue. The abatements level the playing field with our competitors.”
According to Shriver, Quebecor is asking for tax relief on $12.6 million in new equipment needed for an expansion at their Fernley plant. Figures were not available on how much the company would save.
Shriver said the Medallic Art reduction would be approximately $27,000 per year for two years on a $615,000 piece of equipment.
In October 1998, commissioners approved an agreement allowing TREX Co. in Fernley, a manufacturer of decking and other related outdoor products, a 75 per cent personal property tax abatement for up to 10 years and a similar real property abatement for up to 20 years. At that time, one commissioner estimated the difference to be approximately $213,000.
However, Shriver told the board the total benefit of having the company in the county would offset the revenue losses in a little over two years.
Shriver said Quebecor would be hiring 17 new employees at an average hourly wage of $17.19.
If you go
What: Lyon County commissioners
Where: Courthouse Annex, 31 S. Main Street in Yerington
When: Meeting starts at 9 a.m.
For information: Call 577-5037 (Dayton/ Silver Springs) or 463-6531.