Nevada Governor’s Office approves companies for tax abatements

The Nevada Governor’s Office of Economic Development approved three companies that will receive $14,520,823 in tax abatements.

In return, these companies are projected to create 148 jobs in the next two years at an average weighted hourly wage of $37.49. That figure is expected to grow to 219 jobs in five years.

Additionally, these companies will make a capital equipment investment of $120,717,140 and generate $37,536,026 in new tax revenues over the 10-year abatement period.

The companies approved for abatements include Aqua Metals Reno, and Edgewood Renewables and Hard Eight Nutrition in Clark County.

Aqua Metals, Inc. has announced the receipt of an economic incentive package of approximately $2.2 million from the Nevada Governor’s Office of Economic Development.

Pursuant to the terms of the abatement, the support encompasses partial tax relief over a 10-year period toward equipment, building and land improvements planned for the first phase of the company’s Sierra AquaRefining campus.

Recent progress at the campus includes the completion of cement pouring for new flooring, the installation of steel framework for the internal superstructure, and upgrades to electrical and mechanical systems in preparation for equipment installation.

For information, visit www.aquametals.com/sierra-arc-campus/.

For information, visit www.goed.nv.gov.