The Storey County-sponsored Senate Bill 69 was approved by the Senate Revenue and Economic Development Committee.
The bill is intended to urge future companies that qualify for Nevada’s tax-abatement program to assist in expanding government services.
Storey County Manager Austin Osborne said the bill, if approved, will help Storey County negotiate agreements to offset the added costs of housing large industrial developments. Osborne further elaborated by stating the bill will only affect companies investing at least $1B in economic development.
Nevada only houses three investments this large, each of which is housed in the Tahoe-Reno Industrial Center. The investments include Tesla’s two gigafactories and the Redwood Materials factory.
TRI’s rapid growth has put a strain on the county’s limited infrastructure. Tesla formed a symbiotic agreement with the County to help strengthen its services. The bill is intended to allow County services to keep up with TRI as more companies move in.
SB69 will help provide fire stations with the proper investments to serve these large-scale developments. It will also help the County strengthen roadways to TRIto serve its booming workforce.
SB69 is not limited to just Storey County but will impact all jurisdictions throughout Nevada. The bill is supported by the Professional Firefighters of Nevada and the Nevada Association of Counties. The Las Vegas Global Economic Alliance and the City of Fernley oppose the bill. (Source)
