Two Nevada companies rewarded for investments
Two companies investing more than $26.3 million in Nevada were recently granted $1.6 million in business and tax abatements over the next four to 10 years from the Nevada Commission on Economic Development.
The companies were also granted a total of $44,000 in Train Employees Now funds.
“These expanding companies have demonstrated a commitment to our state and will be providing a total of 44 new jobs paying above average wages,” said Lt. Gov. Brian K. Krolicki, commission chairman.
Niotan, a manufacturer in Lyon County, will be adding 34 employees to their Mound House operation. Niotan converts tantalum powder from tantalum rich salts and sells the resulting powder to electronic capacitor manufacturers.
Major customers for the company are located in the eastern United States and internationally. The company will invest more than $24.9 million in the Silver State, adding 8,400-square-feet to their building, in addition to major internal modifications to its operation. The company will receive $1.5 million in sales and use tax, personal property tax and payroll tax abatements over the next 10 years. The company also was granted $34,000 in training funds. These grants are designed to help companies achieve productivity quickly in the state.
Forward Foods, dba Bluegrass Bars, is an expanding Douglas County business providing energy bars nationwide to health and fitness centers, grocery and drug stores, club stores, super stores and convenience stores. Forward Foods purchased Bluegrass Bars and had originally planned to move its manufacturing operation to another state, but because of the Nevada’s business environment, the company decided to not only maintain the Minden facility but to expand its manufacturing capacity. In addition, the company will be moving its corporate headquarters to Nevada.
The company will invest more than $1.3 million in the state and will add 10 employees over the next year to bring its staff total to 59. Forward Foods was granted a total of $99,000 in business and tax incentives over the next 10 years. The company was also granted $10,000 in training funds.
The economic development commission is the state agency, which provides services, support and assistance to communities to help them diversify and develop their economies so they remain viable.
For information on the commission, visit http://www.expand2nevada.com or call 687-4325.
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