The Nevada Governor’s Office of Economic Development (GOED) has approved three companies to receive a total of $909,304 in tax abatements. In return, these companies are projected to create 89 jobs in the next five years at an average hourly wage of $31.75. Additionally, these companies will make a capital equipment investment of $18 million and generate $7.8 million in new tax revenues over the 10-year abatement period.
The companies are:
Clairity Technology Inc, a Culver City-based company that develops systems for direct air capture of atmospheric CO2 for carbon dioxide removal, is looking to site its first commercial facility in Southern Nevada. Clairity was approved for $213,481 in abatements and is expected to create 55 jobs at an average hourly wage of $34.25 within five years. The company is expected to make $2.5 million in capital equipment investment in the first two years of operation and generate $4.4 million in new taxes over the next 10 years.
Inneos LLC, a company specializing in component and module design, plans to expand its existing operations in Douglas County. Inneos was approved for $529,432 in abatements and is expected to create eight jobs at an hourly wage of $39.50 in the next five years. The company is expected to make $12.5 million in capital equipment investment in the first two years of operation and generate $1.4 million in new taxes over the next 10 years.
VPC Global, which specializes in making high-quality products for the plumbing industry, plans to establish a commercial manufacturing facility in Lyon County. VPC Global was approved for $166,391 in tax abatements and is expected to create 26 jobs at an average wage of $27.75 within the next five years. The company is expected to make $3 million in capital equipment investment in the first two years of operation and generate $1.9 million in new taxes over the next 10 years.
"These investments reflect Nevada's commitment to innovation and economic growth,” said Governor Joe Lombardo. “By supporting these companies, we are not only creating quality jobs but also strengthening Nevada’s leadership in manufacturing, technology, and infrastructure. These new partnerships will help drive long-term prosperity and economic success.”