Nevada is known for its business-friendly environment and offers a wide array of incentives to attract investment, stimulate job creation, and support sustainable economic growth.  The state's incentives target industries such as technology, manufacturing, tourism, renewable energy, and more.  Below are some of the key business incentives available in Nevada.

Nevada Governor’s Office of Economic Development (GOED) Tax Incentive Programs

Overview

GOED administers several tax incentive programs designed to support business growth and attract new industries to Nevada.  These incentives include tax abatements, grants, and loans to companies that create jobs and make significant investments in the state.

Eligibility

• The business must create a minimum number of jobs, typically 10 or more, depending on the industry.

• The business must invest in capital improvements, such as facilities, equipment, or infrastructure.

• The business must meet wage and benefit standards set by the GOED.

Incentive Value

• Tax incentives can include abatements of sales, payroll, and property taxes.

• The value of the incentives depends on the size of the project, the number of jobs created, and the economic impact of the business.

Application Process

Businesses must apply through the GOED, submitting a detailed proposal outlining their investment plans, job creation projections, and economic impact analysis.

Nevada Renewable Energy Tax Abatement

Overview

Nevada offers a tax abatement program to encourage businesses that invest in renewable energy technologies.  The state provides financial incentives for companies involved in the production and installation of solar, wind, and other renewable energy systems.

Eligibility

• The business must be involved in renewable energy projects, including solar power, wind power, and bioenergy.

• The business must make a substantial investment in renewable energy infrastructure within Nevada.

Incentive Value

• The program provides a 100% abatement of property taxes on renewable energy systems for up to 20 years.

• Additionally, the program provides sales and use tax exemptions on qualifying equipment.

Application Process

Businesses must apply through GOED, providing a detailed plan for their renewable energy investment, including cost estimates and the expected environmental impact.

Nevada Foreign Trade Zone (FTZ) Program

Overview

The Nevada FTZ program provides tax and regulatory incentives to businesses involved in international trade.  FTZs allow companies to import, store, and export goods without being subject to certain customs duties and regulations.

Eligibility

• The business must be located within a designated FTZ in Nevada.

• The business must be involved in international trade activities, such as importing or exporting goods.

Incentive Value

• Businesses can benefit from reduced or eliminated customs duties and tariffs on goods imported into the FTZ.

• The program also allows for reduced state and local taxes on inventory, providing significant cost savings.

Application Process

Businesses must apply to GOED to establish operations within an FTZ.  They must provide documentation of their trade activities and expected economic benefits.

Nevada Industry-Specific Tax Credits (Film, Tourism, etc.)

Overview

Nevada offers targeted tax credits to specific industries to promote economic growth in areas such as tourism, film production, and technology.  These credits are designed to encourage businesses to invest in Nevada and create jobs in high-impact sectors.

Eligibility

• The business must be engaged in a targeted industry, such as tourism, film production, or technology.

• The business must make a significant investment in Nevada and create new jobs.

Incentive Value

• Tax credits are provided based on the level of investment and job creation.

• The film industry, for example, can receive up to 15% in tax credits for production expenditures in Nevada, with additional benefits for Nevada-based hiring.

Application Process

Businesses must apply to GOED, submitting a business plan, investment and job creation projections, and other relevant documentation.

Nevada New Markets Tax Credit (NMTC)

Overview

The NMTC program provides a federal tax credit for investments in low-income communities, promoting economic development and job creation in underserved areas.  This program is designed to incentivize businesses and investors to support revitalization efforts in economically distressed regions.

Eligibility

• The business must operate in a designated low-income community.

• The business must meet specific job creation and capital investment criteria.

Incentive Value

• The program offers a federal tax credit worth up to 39% of the investment over seven years.

• The credit is spread over a seven-year period, making it a long-term incentive for investors.

Application Process

Businesses must apply through an allocated Community Development Entity, which will oversee the project and ensure compliance with program requirements.

Nevada Enterprise Zone Program

Overview

The Nevada Enterprise Zone Program provides tax incentives to businesses that locate or expand in designated areas of the state.  The program is aimed at stimulating economic development and job creation in economically distressed regions.

Eligibility

• The business must be located within a designated Enterprise Zone.

• The business must create a minimum number of new jobs (typically 10 or more) in the zone.

Incentive Value

• The program offers tax credits, including sales tax abatements and property tax exemptions.

• Additionally, businesses can qualify for tax credits based on the number of jobs created and the level of investment made in the zone.

Application Process

Businesses must apply to the Nevada Department of Business and Industry, submitting a detailed plan for their operations and job creation activities within the Enterprise Zone.

Nevada Capital Investment Tax Credit

Overview

The Capital Investment Tax Credit incentivizes companies to invest in Nevada by offering a tax credit for capital expenditures made in the state.  This program is intended to encourage businesses to make long-term investments in facilities, equipment, and infrastructure.

Eligibility

• The business must make a significant capital investment in the state, such as purchasing equipment, constructing facilities, or upgrading infrastructure.

• The investment must result in job creation and economic growth within Nevada.

Incentive Value

• Businesses can receive a credit of up to 4% of their capital expenditures.

• The credit can be applied to offset the business’s state income tax liability.

Application Process

Businesses must apply to GOED, providing documentation of the capital investment and expected economic impact.

Nevada Workforce Development Program

Overview

The Nevada Workforce Development Program provides incentives to businesses that invest in workforce training for their employees.  The program helps businesses enhance the skills of their workforce, increase productivity, and reduce employee turnover.

Eligibility

• The business must provide training to employees in skills that are critical to the company’s operations.

• The training must result in measurable improvements in employee performance and productivity.

Incentive Value

• The program offers grants and other financial assistance to cover up to 50% of training costs.

• The program also provides tax incentives based on the number of employees trained and the overall impact on the business.

Application Process

Businesses must apply to the Nevada Department of Employment, Training, and Rehabilitation, submitting a training plan and a budget for the costs associated with employee development.

Nevada Tax Increment Financing (TIF)

Overview

Nevada’s TIF program allows local governments to use future property tax revenue to fund infrastructure improvements in redevelopment areas.  This program is designed to stimulate economic growth and urban revitalization.

Eligibility

• The business must be located within a designated TIF district.

• The business must contribute to the revitalization of the district through new investment or infrastructure improvements.

Incentive Value

• The program allows businesses to access funding for infrastructure improvements, such as roads, utilities, and public facilities.

• The funding is repaid through future property tax revenue generated by new development in the district.

Application Process

Businesses must work with local governments to establish a TIF district and submit development plans for approval.