The Nevada Governor’s Office of Economic Development last week approved millions of dollars in tax abatements to draw eight businesses to the Silver State, including for Foot Locker, which plans to open a distribution and fulfillment center in Spanish Springs.
The GOED Board OK’d the tax breaks at its June 17 meeting; the other seven companies are slated to open in Clark County.
“These are high-quality companies creating good jobs for Nevadans,” Gov. Steve Sisolak, who chairs the GOED Board, said in a statement. “I am thrilled that seven of these companies will be based in Clark County, which will help diversify the regional economy that has been the hardest hit in the state by the pandemic.”
As for Foot Locker, the company will receive $2.7 million in tax abatements over 10 years, according to a GOED press release.
In return, the company will invest $26.8 million in capital equipment within the first two years of operation. It will create roughly 212 jobs in the first five years of operation at an average weighted hourly wage of $21.49.
According to Foot Locker’s application with the state, the company’s business plan for its Washoe County expansion calls for a 10-year lease on a roughly 450,000-square-foot distribution center within the Spanish Springs Business Center on Isidor Court, with construction tentatively slated to begin in January 2022.
Estimated completion would be in June 2022, according to the company’s application, which includes a letter of endorsement from Stan Thomas, Executive Vice President of Business Development for the Economic Development Authority of Western Nevada.Meanwhile, the Clark County companies approved for the largest tax breaks June 17 include Tapestry Inc., which will get $2.9 million for a new distribution center; and Nutrition Corp., a new food manufacturer that will receive $1.3 million.
JAND, Inc., a new eyeglasses maker; Pitney Bowes Presort Services, a distribution and fulfillment company; Spreetail, which is expanding an existing distribution center; Sunshine Minting, an existing precious minerals maker; and TCP Global, which will also bring a new distribution center, all received abatements less than $520,000.