Dear California Company CEO:
Mutual friends and other CEOs who have discovered the business opportunities in Nevada have urged me to write to you. Being the top executive at your company at any time is challenging but exhilarating. If you are managing a fast-growing company or one that's struggling to meet your bottom line in these economic times, the degree of difficulty goes up exponentially. As a fellow CEO and a resident of your closest neighboring state, who has lived and done business in the Greater Reno-Tahoe region for nearly 20 years, I am aware of the struggles you face doing business in California and urge you to consider Nevada as an alternative location for your company.
While you may see this outreach as a blatant attempt to steal your company across the border to Nevada, if this letter helps you find ways to survive the combined difficulties of a global economic crisis and the burdens of a huge, struggling state, then we both can benefit.
You may be faced with a "no-win" situation of going out of state or going out of business. Nobody wins in
that latter situation. Assisting California companies, among others, with their business needs continues to be a focal point of our business recruitment efforts. We are in the process of launching a new program to reach out to your fellow CEOs about how Nevada, and particularly the Greater Reno-Tahoe region, may improve your bottom line.
Greater Reno-Tahoe offers a competitive tax climate that may vary a bit based on your business. Our team of business development experts will run a free cost assessment for you to illustrate the savings you'll realize by doing business in the Silver State. The regional offers solid business assistance programs and benefits. For example, you'll experience less red tape here since permitting and licensing is quicker and easier than in most places, especially California. You won't pay personal income tax that's built into our constitution. You won't pay corporate income tax, unitary tax, inventory tax, special intangible tax, estate and/or gift tax, franchise tax or inheritance tax. While taxes are relatively low, Nevada has business incentives for companies like yours who pay good wages and provide benefits. We can help determine if you meet the requirements that would make your company eligible for sales and use tax abatements and deferrals, personal property tax abatements, training grants or special abatements for renewable and recycling projects.
Don't just take my word for it. In January 2009, U.S. News & World Report ranked Nevada among the seven Best States to Start a Business. The Small Business Survival Index 2008 ranked Nevada No. 2 for the Friendliest Policy Environments for Entrepreneurs. Those rankings came during the current recession. Prior to that, Reno was named the No.1 city for doing business by Inc. magazine in its annual ranking of the
"Best Places to Do Business in America." Nevada is also a leader in renewable energy and holds the top spot in geothermal energy use per capita in the nation.
Beyond our favorable business climate, I'll bet you aren't aware of our region's "Can Do" lifestyle and
outdoor appeal. My company did a study a few years ago asking local residents to describe living here and asking Californians and others in the western U.S. what they were looking for in a desirable place to live.
You'll find the overlap interesting. Those qualities of life include a balanced life pace, four vibrant seasons of outdoor action, a meaningful sense of community and an emerging new business dynamic. In other words, for those seeking balance in business and life, Greater Reno-Tahoe is the surprising, yet inspiring answer.
Why else would outstanding people who work at companies like Cisco Systems, Microsoft Licensing, GP, Patagonia, General Motors, General Electric and others live and do business here? A friend and colleague of mine, Paul Thomsen, public policy manager for Ormat Technologies told me, "It's been a wonderful place to live and a great place to do business." Ormat is a leading developer of geothermal energy and products in the region with global operations.
Another close friend and peer is Tony Ciorciari, a top executive at International Game Technology. IGT designs, develops, manufactures and distributes gaming machines worldwide. He told me, "Our close working relationships over the years with the public schools, with the University of Nevada, Reno, Truckee Meadows Community College and other educational institutions have yielded many benefits to IGT."
Consider yet another top company doing business here that makes a case for why you should consider Reno-Tahoe as a business alternative to California. "Sierra Nevada Corporation's main office remains in Greater Reno-Tahoe for a number of reasons," said Renee Velasco, corporate director, mergers and acquisitions/administration at Sierra Nevada Corporation, a fast-growing, diversified high-tech electronics, engineering and manufacturing corporation. "Besides the obvious benefits of living and doing business in a state with no state income tax, our employees also enjoy the nearby Lake Tahoe and Sierra Nevada recreational areas that contribute to quality of life."
At the risk of overstating the situation, you owe it to yourself, your family and your company family to at least consider the options in Nevada. Looking doesn't cost a thing and doing your due diligence is good business. As I've said, Greater Reno-Tahoe is home to top quality companies and available workers. The current economic downturn has actually created an upside for companies. More skilled people are available to hire, lower cost facilities are ready for occupancy and you'll find great deals on land ready for your investment. If your company is having a tough go of the economy and a tougher go being in California, before you close your doors look at Greater Reno-Tahoe as a door of opportunity waiting for you to open.
Call us for your free business cost assessment at 775.829.3704 or dcrooks@edawn.org and let us put Greater Reno-Tahoe to work for you and your company!
Sincerely,
Chuck Alvey
President/CEO
Economic Development Authority
of Western Nevada
