GOED Approves Tax Abatements for Companies
The Nevada Governor’s Office of Economic Development (GOED) Board of Directors has approved abatements for Lithium Nevada Corp. and Google that are expected to result in $1.1 billion in investments, the creation of 163 permanent jobs and 5,300 construction jobs. Google was approved for a 2 percent sales tax abatement for 20 years, worth approximately $16.8 million and a 75 percent personal property tax abatement for 20 years, worth approximately $8.25 million. Lithium received a 2 percent sales tax abatement for two years, worth $5 million, a 50 percent modified business tax abatement for four years, worth just over $220,000 and a 50 percent personal property tax abatement for 10 years, worth $3.38 million.
RTC Receives Grant for Pyramid Highway Project
The Regional Transportation Commission of Washoe County (RTC) has received a $23 million Better Utilizing Investment to Leverage Development (BUILD) grant from the U.S. Department of Transportation to build the Pyramid Highway project. The project will improve safety and mobility on Pyramid Highway from Queen Way to Golden View. The corridor sees over 50,000 cars per day.
Reclamation Projects Colorado River Drought Operations
The Bureau of Reclamation released modeling results for the Colorado River Basin, which impacts Lake Powell and Lake Mead operations. The model indicates continued drought and an increased chance of potential water shortages by 2025. The basin is in its 21st year of extended drought. Due to a below average runoff this year (55 percent of average for the water year) the projections indicate an increase by as much as 12 percent for Lake Powell and Lake Mead to fall to critically low reservoir levels by 2025.
Nevada State College Approved for New Bachelor’s Degree
The Nevada System of Higher Education (NSHE) has approved a Bachelor of Arts and Bachelor of Science Degree in Interdisciplinary Data Science at Nevada State College (NSC). Once approved by NSC’s the program will become the first of its kind in Nevada. Hanover Research expects a 24.6 percent annual growth rate for data science-related occupations in the Western Region from 2014 to 2024.