Two new laws are resulting in major new corporate investment in Nevada. One law targets big data centers and the other creates incentives for the state's aviation industry.
Data Centers Expand
SB 170 provides a partial abatement of property taxes, along with local sales and use taxes to help companies expand their operations.
As a result, the following businesses have announced new investments, including:
Machine Zone Inc. will establish a data center in Southern Nevada. The company is leasing 12,000 square feet and investing $50 million in capital expenses. It will hire 76 new employees.
Xtreme Manufacturing will invest $11.5 million to move its facilities in California and Kansas to Henderson, NV. It will hire 87 people over the next year and up to 463 over the next five years.
Barclays Services is expanding its credit card operation in Henderson and expanding to a 54,000 square foot facility. It will add 150 employees.
Switch Ltd. will make a capital investment of $810.6 million over the next 20 years to loop data movement between Las Vegas, Reno, the San Francisco Bay area, and Los Angeles back to Las Vegas. The expansion in Las Vegas will produce the largest data center campus in the world.
Avaition Gets a Boost
The passage of Assembly Bill 161 seeks to make Nevada more competitive in the aviation field by giving tax incentives to businesses in the state that own, operate, manufacture, service, maintain, test, repair, overhaul or assemble aircraft or aircraft components.
Several companies immediately stepped forward to take advantage of the tax incentives.
Air Methods Corp. will invest $159 million in aviation parts and aircraft.
Apex Aviation plans to triple its staff over the next three years and have 96 employees within 20 years.
CECo Enterprises is acquiring aircraft to service equipment accounts in rural Nevada locations.
Lone Mountain Aviation is investing $48 million in aviation parts.
Prior to the new law, companies with corporate aircraft would often fly to other states for maintenance and parts. AB 161 is expected to keep more business in Nevada.