Nevada Briefs - December 2005

Nevada Briefs

Solar Thermal Plant Slated for Boulder City

A solar thermal power plant is being built near Boulder City by solar power giant Schott. It is expected to provide power in 2007, according to Steve Russo, head of Schott’s Solar Thermal North American business. The plant will meet the energy demands of about 40,000 households, while reducing greenhouse emissions. "The reduction of greenhouse gases will be the equivalent of removing approximately 1 million cars from the nation’s highways. The plant will offset the need for thousands of barrels of oil every year, lowering the demand for foreign energy," Russo said, adding that solar thermal plants are effective in areas of intense exposure to sunlight. This will be the first commercially operated solar thermal power plant to start up in 14 years, and it will be the third largest in the world.

Great Basin Bank Opens Mountain City Branch

Great Basin Bank of Nevada, a wholly-owned subsidiary of Great Basin Financial Corp., recently announced the opening of a new full-service branch on Mountain City Highway in Elko. Terry Sullivan, chairman of the board and president/chief executive officer said, "We’ve been working toward this opening for nearly two years. It’s very gratifying to have the construction phase nearing completion. From the response we’re getting, area residents and businesses seem as anxious for us to open as we are." The new facility will be a full-service branch featuring four drive-through lanes and a 24-hour ATM drive-through. The new branch will open with a staff of 20 employees.

Agreement to Provide Water for Lincoln County

The Lincoln County Water District and Vidler Water Company announced they have concluded funding to jointly develop up to 9,340 acre-feet of water resources for economic development purposes under the master plan of Lincoln County. The public/private partnership will provide a supply of water for current and future economic development projects in Lincoln County, including: the Lincoln County Conservation, Recreation and Development (LCCRD) Act of 2004 property; Coyote Springs, a large-scale master-planned community; and the Sithe Energy project, a 750-megawatt power generation facility. Lincoln County Water District and Vidler have agreed to develop water resources for use by developers and the power generation project with an initial amount of 2,100 acre-feet of water in 2005. Developers will then have up to 10 years to purchase the additional 7,240 acre-feet when those rights are permitted under existing applications currently submitted to the State Water Engineers Office.

Prime Memorysolution, Inc. to Relocate to Reno

One of the leading manufacturers and distributors of computer memory upgrades in Europe, the Middle East and Africa is relocating its North American headquarters to Reno. Prime Memorysolution Inc., part of the Memorysolution group, has announced that operations at its new Reno headquarters will commence in early November. Memorysolution is headquartered in Breisach, Germany, and maintains branch offices in Berlin, Frankfurt, Munich and Hamburg, Germany, as well as a subsidiary in Spain. The company’s annual sales are approximately $125 million. It sells approximately 3.6 million Flash cards for digital cameras, cell phones and handhelds, and about 2.5 million memory modules for computers each year. "We chose Northern Nevada because of the tax benefits, the favorable business climate, and its central location near our customers and suppliers in California," said Volker J .Huber, president and chief executive officer.

Business Bank Breaks Ground on New Headquarters

Business Bank of Nevada recently broke ground on a new 150,000-square-foot, six-story facility at West Charleston and Pavilion Center in Las Vegas. Construction on the Business Bank of Nevada Corporate Centre will commence this quarter, with completion of the facility scheduled for next year. The bank will be the primary tenant in the $35 million building, occupying 35,000 square feet. It will operate a full-service branch and two lending centers on the first floor of the building, while bank operations and executive offices will be located on the second and sixth floors. The project is being built on 7.12 acres that the bank and its investment partners purchased from Howard Hughes Corporation. HFTA are the architects for the project, while Whiting Turner Contracting was named as the general contractor and Salter Hanifan as the engineers. CB Richard Ellis was hired for leasing and brokerage services.