Treasurer Schwartz requests audit of Governor’s office of economic development
March 3, 2017
Treasurer Dan Schwartz requested an audit of the Governor's Office of Economic Development (GOED) at the Executive Branch Audit Committee (EBAC) meeting on February 22. He continues to seek more information on the projects GOED funds which have received substantial tax credits and financial assistance from Nevada taxpayers, including Faraday Future and Tesla. The Treasurer has requested that the audit's results be presented at a future EBAC meeting before August 1, 2017.
"I appreciate the Governor's willingness to look into the matter. As an EBAC member, I want to better understand the procedures used to give out hundreds of millions of dollars in incentives under NRS 360.880 and NRS 360.889," Treasurer Schwartz said. "I have strongly advocated transparency in the state's economic development projects. Since 2014, the powers granted to GOED have continued to grow. The audit will look into job creation data, amount of money invested in the state by everyone involved with the projects, the process that GOED used to qualify the project, and the rationale for what related documentation is deemed 'confidential.' It is my hope that this audit provides greater transparency for these large scale projects."