NEARLY 400 NEW JOBS AND $73M IN CAPEX APPROVED BY GOED BOARD
LAS VEGAS/RENO, NV (Nov. 16, 2017) – Today, the board members of the Nevada Governor’s Office of Economic Development voted to approve the applications for six diverse companies proposing the creation of nearly 400 jobs and capital investment of approximately $73 million in Nevada.
“In September, Nevada’s job count was 50,800 above its pre-recession high and now stands at 1,348,000 – an improvement of 236,500 positions over the same month seven years ago when our state’s job count was at its recessionary low,” said Governor Brian Sandoval. “Not only do we have more jobs, but that mix of jobs is more diverse and the new jobs, supported by our economic development efforts, pay twice as much as the old jobs. This healthy, more sustainable growth benefits all Nevadans, as does the growth of these innovative companies approved by the GOED board today.”
Express Messenger Systems Dba OnTrac – Washoe County: (15 jobs and $40,787,702 million in capital investment) OnTrac is a logistics company specializing in contracting small-parcel shipping services in the Western United States. The company was founded in 1991 and expanded into Nevada in 1996. OnTrac currently partners with many distribution clients in the region to deliver packages within an eight-state footprint from its existing Sparks facility. The overall growth in e-commerce and distribution in the Reno-Sparks area is driving the expansion. The company's current full service area serves over 65 million consumers, or 20% of the United States population.
Latitude 36 Foods, LLC – Washoe County: (125 jobs and $26,411,587 in capital investment) Latitude 36 Foods is a supplier of condiments for the salad and fresh cut produce industry. The company buys raw materials in bulk and packages the items into condiments for boxed salad kits. In the fresh cut produce industry, the salad kit category is growing at a 30% year over year rate. The total category has tripled since 2013, and is projected to double again in the next five years. The company is backed by two of the largest salad companies in North America. Latitude 36 conducted an extensive search of properties in California, Arizona and Nevada. The company's decision to locate its new operations in Reno is due to several factors, including availability of new warehouse space, the business tax structure, cost of living and logistical advantages offered by the region.
P3 Health Partners, LLC – Clark County: (160 jobs and $921,149 in capital investment) The P3 Health Partners team originally founded HealthCare Partners of Nevada. Over the past eighteen years the team has worked with payers and health systems across the country and built medical groups and independent practice associations to improve clinical outcomes and patient and provider experience, while substantially reducing the cost of healthcare. After selling HealthCare Partners of Nevada in 2012, the team is now looking to return to Las Vegas for the expansion of a new venture, P3 Health Partners. A company review of operating costs shows Las Vegas has the right combination of workforce availability and development space. P3 Health Partners examined multiple locations throughout the western states and ultimately, after much due diligence and economic feasibility analysis, Nevada was chosen for its overall incentive package and pro-business climate.
Precision Tube Laser, LLC – Clark County: (14 jobs and $1,189,815 in capital investment) Precision Tube Laser will provide laser tube cutting services for the metal fabrication and construction industry within Nevada and neighboring states. Currently these services are not readily available in Nevada and businesses requiring this service often need to have it completed out of state. The company will purchase and utilize state of the art laser tube cutting equipment. Precision Tube Laser anticipates its highly accurate material cutting service will benefit local and out of state construction and fabrication shops by enhancing and improving their finished products, shortening lead times, and growing bottom line profits. The company also plans to hire sales staff and programmers to educate metal businesses on the advantages of using its service.
Progress Rail Services Corporation – Clark County: (50 jobs and $2,975,300 in capital investment) Progress Rail Services, a wholly-owned subsidiary of Caterpillar headquartered in Albertville, Alabama, is the world’s largest builder of diesel-electric locomotives for all commercial railroad applications. The company offers advanced Electro-Motive Diesel (EMD) locomotives and engines, railcars, trackwork, fasteners, signaling, rail welding and Kershaw Maintenance-of-Way equipment, along with dedicated locomotive and freight car repair. The company also offers advanced rail technologies, including data acquisition and asset protection equipment. Progress Rail Services has leased a 130,000-square-foot manufacturing facility in Henderson, which will remanufacture traction motors for the rail industry. The company will ship product from Henderson to rail customers throughout the Western United States. Progress Rail Services selected Henderson out of several potential cities. The company reviewed each city's economic climate, proximity to its main customers, utility rates, labor and property costs, highway accessibility, and incentives packages as points of comparison. The company notes Nevada’s reputation for offering incentives to businesses that create jobs and stimulate economic growth.
About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and Governor Brian Sandoval to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at www.diversifynevada.com.
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