New incentive: Electric rates
NV Energy is nearly ready to test a program that provides a break on power rates for companies that bring new basic employment to the region.
The NV Energy program will provide a first-year discount of 30 percent off the power costs — not the entire electric bill, but the portion that reflects the utility’s cost of fuel and purchased power — for new employers.
The discount slides to 20 percent during the second and third years and 10 percent in the fourth year, said Mary Simmons, vice president of external affairs for the utility.
The program is available only to companies that have applied for economic-development incentives through the Governor’s Office of Economic Development.
Danny Campos, vice president of business development for the Northern Nevada Development Authority, said the rate provides a strong addition to the business recruitment tools already in use.
“When you can help minimize the energy costs for a company considering whether to relocate to Nevada, you’re providing them with a valuable incentive to choose our region,” Campos said. “NNDA has full intention on getting the word out to all of its current clients looking at Nevada as their next location.”
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