6 companies considering building, relocating to Northern Nevada
The Governor’s Office of Economic Development awarded tax abatements to six companies considering to build or relocate operations in Northern Nevada.
In a meeting Thursday, the econoic development office approved about $27.7 million in tax abatements for existing, expanding and new Nevada companies, with about $1.2 million awarded to companies in Northern Nevada. In return, the companies in Northern Nevada would provide more than $26.2 million in tax revenue.
Redwood Materials
Awarded tax abatements: $392,610
Anticipated capital investment: $3.8 million
California-based electronic recycling company Redwood Materials is planning to open a new facility in Carson City this year. The new facility would process materials and could become the company’s future headquarters. The company would hire 31 employees at an average hourly wage of $27.42.
rfXcel Corporation
Awarded tax abatements: $306,180
Anticipated capital investment: $625,000
Software as a service company rfXcel Corporation is considering moving its California headquarters to Reno. The new facility would house the company’s professional services, technical support, back office operations and more. The company would hire 82 employees at an average hourly wage of $47.43.
Berkley International
Awarded tax abatements: $179,312
Anticipated capital investment: $1.6 million
Berkley International, a manufacturing company that makes environmentally-friendly molded fiber products, is planning to locate its new headquarters and manufacturing hub in Carson City. The company would hire 28 employees at an average hourly wage of $22.96.
Aqua Metals
Awarded tax abatements: $109,350
Anticipated capital investment: $33,000
Aqua Metals is considering relocating its headquarters from California to Reno. The clean battery recycling business’ facility would also accommodate research and development activities. The company would hire 28 employees within the first year of operations at an average hourly wage of $67.73.
FOX Factory
Awarded tax abatements: $95,798
Anticipated capital investment: $482,500
FOX Factory plans to relocate from California to Sparks and establish a 65,000 square-foot distribution operation warehouse and build out 7,000 square feet of office space. The company designs and develops shock absorbers and racing suspension products for snowmobiles, mountain bikes, motorcycles and other vehicles. The company would hire 50 employees at an average hourly wage of $22.73.
James Loudspeaker
Awarded tax abatements: $77,937
Anticipated capital investment: $650,000
Custom installation loudspeaker designer and manufacturer James Loudspeaker is in the process of relocating from California to Minden. The location will house the company’s corporate headquarters, as well as its design and engineering, manufacturing, assembly, service and general operations. The move is expected to take place late this year, with initial operations beginning in January. The company plans to hire 16 employees at an average hourly wage of $25.92.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.
