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Location Notebook: Tesla’s “Gigafactory” - Reno’s Game Changer

Dennis Cuneo, Managing Partner , Fisher & Phillips (Q3 2014)
With the announcement that Tesla picked Reno for its highly publicized $5 billion “gigafactory,” the area took a giant step toward civic leaders' goal of remaking its economy and image. To win the project, the state offered a rich — and what will be a highly scrutinized — incentive package. Will the bold gamble pay off? More

Front Line: Tesla’s New Battery Plant to Bring Electric Vehicles to the Masses

Geraldine Gambale, Editor, Area Development Magazine (Q3 2014)
A comprehensive incentives package (pending legislative approval), proximity to natural resources and abundant renewable energy potential are significant factors that will improve Tesla’s odds of success in the “get things done state.” More

Nevada Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
Nevada's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Manufacturing in America: Bigger, Better and Bolder

Mark Crawford (Q1 2014)
American manufacturing is on the upswing, with advances in innovation and productivity buoyed by decreased energy and transportation costs, and new efforts to increase work force skills. More

Sustainability: The “Invisible Hand” Shapes Next-Generation Location Selection

Don Schjeldahl, Founder, Don Schjeldahl Group (Q1 2014)
Companies that view their location strategies through a “sustainability filter” are more likely to achieve competitive advantage and long-term stakeholder value. More

Regional Report: Mountain States’ Economies Striving to Reach New Heights

Steve Stackhouse-Kaelble (Directory 2014)
The Mountain States are posting positive news on the jobs and business location and expansion front. More

Tech Incubators’ Outsized Impact on Innovation and Job Creation

Area Development Online Research Desk (Q4 / Fall 2013)
The ecosystems created by high-tech incubators popping up all over North America have become true job-creation drivers, attracting attention from CEOs for their distinctively collaborative workplace culture that drives innovation and growth. More

Critical Location Decision Factor #2: The Road to Profitability

Mark Crawford (Q4 / Fall 2013)
A well-connected location is essential for accessing suppliers and customers, as well as connecting to intermodal hubs leading to the global marketplace. This is the Ninth in a series of articles examining the top-10 site selection factors as decided by the respondents to AD's Q1 Corporate Executive Survey. More

NEVADA at a glance

POPULATION: 2,723,322 (2011 estimate)

LABOR FORCE: 1,368,600 (August 2012

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Mining, tourism and gaming, agriculture

EXPANDING INDUSTRIES: Aerospace defense; business IT ecosystems; clean energy; health and medical services; logistics and operations; mining, materials, and manufacturing; tourism, entertainment, and gaming

COLLEGE GRADUATES: (Age 25 and over) 36.3% (2011 ACS)

BASIC BUSINESS TAXES:
Corporate Income Tax: None

Business License Fee: $200 annually

Gross Payroll Tax: 0-1.17 percent with deductibility of employer-paid health insurance premiums; financial institutions are taxed at 2 percent.

Sales and Use Tax: 6.85 percent on retail sales plus local add-ons

Property Tax: Levied at 35 percent of the property's full cash value

BUSINESS INCENTIVES:
Sales tax deferral and abatement

Intellectual property development

Modified business tax abatement

Personal property tax abatement

Train Employees Now

Industrial Development Revenue Bonds

Private activity bond financing

Publicly registered securities offerings

Captive Insurance Program

Millennium Scholarship Program

Principal Manufacturing industries

  • Food
    11.9%
  • Fabricated Metal Products
    11.6%
  • Printing and Related Support Activities
    8.6%
  • Computer and Electronic Products
    7.5%
  • Plastics & Rubber Products
    7.1%
  • Nonmetallic Mineral Products
    6.3%
  • Transportation Equipment
    3.9%
  • Machinery
    3.8%
  • Chemicals
    3.7%
  • Primary Metals
    3.4%
  • Other Manufacturing Industries
    32.3%