Northern Nevada companies approved for $1.3M in tax abatements
Three companies expanding in or locating to Northern Nevada received approval for tax abatements from the Governor’s Office of Economic Development Wednesday.
A total of $1.3 million in abatements were awarded in return for more than $31.4 million in new tax revenue over 20 years to companies including:
Bently Heritage, LLC
Approved tax abatements: $377,812
Bently Heritage, a distilled spirits manufacturer that uses locally-grown grains and botanicals, is seeking to expand its current facility in downtown Minden, Nevada. The expansion would allow the distillery to hire additional staff. It would hire six employees over the first 24 months of operations at an average hourly wage of $21.95.
Cyanco Company, LLC
Approved tax abatements: $915,437
Chemical manufacturer Cyanco is considering expanding its manufacturing facilities in Winnemucca, Nevada. It would hire 20 employees in the first year of operations at an average hourly wage of $44.53.
Figure Technologies, Inc.
Approved tax abatements: $20,924
Blockchain and financial technology company Figure Technologies is considering locating a facility in downtown Reno that would house the company’s customer service, loan servicing, financial advisory and engineering operations. The company would hire 65 employees in the first year of operations at an average hourly wage of $30.01.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.