Nevada Direct Financial Incentives 2010
Nevada's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the Department of Business & Industry, Nevada's Train Employees Now (TEN) Program, and the the Procurement Outreach Program.
Area Development Research Desk (Feb/Mar 10)
Industrial development bonds:
The Department of Business & Industry issues tax-exempt industrial development bonds to provide low-interest financing for eligible businesses. The interest rate is negotiated between the sponsor and the lender. The maximum term is 40 years.
Cities and counties also issue industrial development bonds for manufacturing, industrial warehousing, research and development, and pollution-control facilities. The maximum term is 40 years.
Customized industrial training:
Nevada's Train Employees Now (TEN) Program assists new and expanding businesses to train new or potential employees. Training, developed jointly by the company, the contact agency, and the educational institution, ranges from recruitment to classroom and on-the-job training. Trainee selection is at the discretion of the company. This program provides job assistance to new businesses. The funds allow a company to quickly train workers in the specialized skills the company requires. Participating businesses contribute 25 percent of the total training costs.
Technical and support services:
The Procurement Outreach Program provides bid information and direct technical assistance to businesses selling goods and services to the government.
The Nevada Small Business Development centers offer advice on operating businesses. Services are free of charge in most cases.
The Global Trade and Investment Program offers assistance to businesses to begin or expand exporting to international markets.
The Rural Economic Development Program, through Community Development Block Grants (CDBG), assists in the development of healthy and viable rural communities.
The Made in Nevada Program assists Nevada-based manufacturers with marketing and advertising.
Nevada State Contact:
Nevada Commission on Economic Development
108 East Proctor Street
Carson City, NV 89701-4240
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.