Business Relocation Advantages

Business Relocation Advantages 2019-11-07T15:51:57+00:00

Nevada, A Business-Friendly State…

Greater Reno-Sparks, Nevada is a place where businesses relocate to increase their bottom line and grow. Companies like Tesla, Switch, Microsoft, Apple, Amazon, zulily, Patagonia, Urban Outfitters, Thrive Market, Petco, and Panasonic call Northern Nevada home to some of their most crucial business functions. See the advantages of moving your company to Nevada below to understand why it’s a business-friendly state.

Advantage 1 – Favorable Tax Climate

  • No corporate income tax
  • No inventory tax
  • No franchise tax
  • No personal income tax
  • No inheritance tax
  • No estate tax
  • No unitary tax
  • No intangibles tax
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Advantage 2 – Reach 60 Million Customers in 1-Day Truck Service

Greater Reno-Sparks area is centrally located in the Western United States and is within 1-day truck service to over 60 million customers and 2-day truck service to 11 states.

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Advantage 3 – Competitive Commercial Utility Rates, >50% Lower Than California

Companies are more profitable when they keep operating costs low. In Nevada, the commercial utility rates are less than half California’s. That means companies relocating from California can save over half on their monthly utility costs.

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Advantage 4 – Nevada Business Tax Incentives Supports Primary Industry Sectors

The Nevada Governor’s Office of Economic Development (GOED) offers tax incentives to companies that relocate or expand their businesses, subject to meeting the criteria for job creation, average wage, and capital investment, medical benefits. These incentives include,

  • Sales & Use Tax Abatement
  • Modified Business Tax Abatement
  • Personal Property Tax Abatement
  • Real Property Tax Abatement for Recycling
  • Aviation Parts Tax Abatement
  • Data Center Tax Abatement

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Advantage 5 – Silver State Works Training Assistance and Financial Incentives

Nevada’s Silver State Works program incentivizes workforce training for companies that relocate or expand in our region and offers three types of funding options.

  1. Employer-Based Training
  2. Employer Incentive Job Program
  3. Incentive-Based Employment

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Advantage 6 – Opportunity Zone Tax Benefits

The Opportunity Zone tax incentive program is designed to encourage new equity, long-term capital investment in low-income areas (certified opportunity zones) by private investors who use a qualified opportunity zone fund and have qualifying capital gains that are eligible for capital gains tax benefits.

3 core tax incentives include:

  • Temporary deferral of capital gain
  • Step-up in basis
  • Permanent exclusion from taxable capital gains income

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Advantage 7 – Green Building Abatements

The Green Building Tax Abatement Program was created to promote energy efficiency in Nevada. Partial property abatement for up to ten years are awarded by the Governor’s Office of Energy to owners who build or renovate buildings to be more energy efficient and create significant energy savings may be eligible for partial property tax abatement. Eligibility criteria include LEED or Green Globes certification.

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Advantage 8 – Renewable and Energy Storage Abatements

New or expanded businesses in Nevada may apply for property tax abatement of up to 55% for up to 20 years for real and personal property used to generate electricity from renewable energy resources including solar, window, biomass* and fuel cells, geothermal or hydro. Facilities must have a capacity of at least 10megawatts and plan to be in operation for at least ten years. Facilities that use solar energy to generate at least 25,840,000 BTU of process hear/hour can also qualify for the abatement. Certain job creation and other requirements must also be met.

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