Business Assistance Programs
In partnership with the Governor’s Office of Economic Development and the local jurisdictions within Clark County, the Las Vegas Global Economic Alliance offers a variety of incentives to help qualifying companies locate and expand in the region. Programs include the following:
Applies on qualified capital equipment purchases, with reductions in the rate to as low as 2 percent for a 2-year period.
Abatement of 50 percent of the 1.475 percent rate on quarterly wages exceeding $50,000 for a 4-year period.
Abatement of up to 50 percent over a maximum of 10 years.
Abatement of up to 50 percent abatement for up to 10 years for qualified recycling businesses.
Abatement of up to 50 percent on personal property tax and a reduction of sales and use tax to a rate of 2 percent for a 20-year period.
Abatement of up to 75 percent on personal property tax and a reduction of sales and use tax to a rate of 2 percent for a 10 or 20-year period.
Provides employers up to $2,000 for hiring state-qualified employee candidates.
Workforce Training Assistance Programs
Two statewide programs, Silver State Works, and Workforce Connections incentivize workforce training for companies looking to relocate to or expand in the region. LVGEA is your portal to federal Workforce Opportunity and Innovation Act groups like Southern Nevada workforce connections.
In addition, Southern Nevada leverages available federal, state, and nonprofit programs to help businesses find the employees they need today and train the workforce businesses will need tomorrow.
Silver State Works is a program through Nevada JobConnect, providing employers up to $2,000 per employee in incentive reimbursement or training allowance for each state-qualified employee.
Workforce Connections serves as an intermediary between employers and the community to fill jobs in Southern Nevada. Businesses can access labor and job training resources from Workforce Connections. For job seekers, the organization offers job training, education, and employment opportunities. Workforce Connections is the Southern Nevada Workforce Investment Board and has the responsibility of providing Nevadans with the proper tools that will assist them in finding employment.
The Opportunity Zones program was enacted to encourage investment in low-income communities. Created as part of the 2017 federal tax reform package (Tax Cuts and Jobs Act), the program affords Governor Sandoval the ability to nominate up to 61 census tracts in Nevada to be part of an “Opportunity Zone.” These census tracts must meet certain criteria in order to be eligible; primarily, they must be low-income communities.
Being part of an Opportunity Zone provides a tax incentive for investors to reinvest unrealized capital gains into low-income urban and rural communities. Many believe this program has significant potential to encourage the private investment of billions of dollars in low-income communities across the United States – it’s important we get this right!