State approves $1.4 million in tax abatements for expanding data storage company
26 January 2013
The board of directors of the Governor’s Office of Economic Development met Thursday in Las Vegas.
The issue: ViaWest, a computer data storage company founded in Colorado with operations in Las Vegas, is expanding with a new facility on Lone Mountain Road in North Las Vegas. The company requested tax incentives to offset the costs of the expansion.
Vote: 7-0-1. Board member Rob Roy, an executive with Switch Communications, abstained because his company is a competitor.
What it means: The vote approved $1.4 million in sales, modified business and personal property tax abatements, as well as $290,823 in sales tax deferrals. ViaWest was eligible for the incentives based on the number of jobs it is creating (13), the average wage of those jobs ($31.05 an hour) and the amount of capital it is investing ($14.5 million).
State analysts said the facility would create an estimated $1.1 million in new tax revenue over 10 years, would have an estimated economic impact of $3.6 million a year and would produce $25.50 for every dollar abated over 10 years, with a break-even time of 16 months.
The company is building a 112,000-square-foot facility with 40,000 square feet of raised flooring. It is expected to be operational by the end of February and will be the 24th data storage center in the western United States.
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