CEO Guide to the States

#8

Nevada

CEO Rank on Best & Worst States for Business

ECONOMIC STRENGTH IN THE SILVER STATE

While discretionary spending, leisure and hospitality have taken a notable hit on Las Vegas’ economy, diversification in the Reno area has helped it bounce back quickly. Several innovative tech companies have made notable announcements in the region in the past year. SaaS company Discover Podium announced plans to add 300 employees within five years. Software company PlusPlus plans to hire 100 employees over the next five years. The lithium industry also represents another emerging opportunity in the state.

“Nevada’s economic recovery following the Covid-19 pandemic is laser focused on creating jobs and support- ing workers…We have made tremendous progress already and through the wise investment of federal dollars and continued collaboration between the public and private sector, we will continue to ensure our recovery efforts reach all Nevadans.”
Steve Sisolak
Governor

TAXES

No corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

No corporate income tax, personal income tax, franchise tax, inventory tax, inheritance tax or estate tax.

Nevada Standard Abatement Package: Offers a re- duction of sales and use tax to 2% for two years, reduc- tion of modified business tax to 50% for four years and reduction of personal property tax to 50% for 10 years.

Nevada Aviation Abatement: Offers a personal prop- erty tax abatement of up to 50% for 10 years for taxes due on tangible personal property.

Nevada Data Center Abatement: Offers partial abate- ments from personal property, sales and use taxes to companies that locate or expand in the state.

EDCs

Nevada Governor’s Office of Economic Development

goed.nv.gov

Economic Development Authority of Western Nevada

edawn.org

Las Vegas Global Economic Alliance

lvgea.org

HIGHLIGHTED PROGRAM OR INITIATIVE

The SkillsMatch software program helps people identify which employment skills they have and how they can become more employable in the market. The program works with university and community college systems along with workforce boards to develop skills-based training and education.

BIG DEALS

  • Crown Cork and Seal USA announced an $84 million manufacturing facility in Clark County that will create 126 jobs.
  • Google announced new investments in Nevada as part of its $7 billion investment in data centers and creation of 10,000 new jobs across the U.S.
  • Autonomous electric vehicle company Nuro announced in August 2021, it will construct a factory in the state and convert 76 acres of the Las Vegas Motor Speedway into a robot-card R&D center.
  • Ball Corporation announced in September 2021 a $176 million investment and 178 jobs at a facility in Clark County.
  • CAE SimuFlite announced a $55 million facility in Clark County that will create 78 jobs in the first two years. It also announced in October 2021 that it will open a CAE Las Vegas Training Center in the Summer of 2022.

BIG COMPANIES

  • MGM Resorts International
  • Google
  • Caesars Entertainment
  • Scientific Games
  • Playtika
  • Boyd Gaming