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Life Science Industry Opportunities in Nevada NV Energy Economic Development

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Life Science Industry Opportunities in Nevada NV Energy Economic Development Life Science Industry Opportunities in Nevada NV Energy Economic Development Our dedicated Business Development team strategically works to facilitate business site location, relocation and expansion in Nevada. • Nevada Companies • Education • Logistics Map • Labor • Nevada Business Advantages • Potential Sites • Electric Cost Comparisons • Renewable Resources & Options Nevada Companies Education This field of study includes biology, botany, zoology, microbiology, physiology, biochemistry, and other similar subjects. University of Nevada, Reno: • 8 undergraduate degrees • 6 master’s degrees • 6 doctoral degrees University of Nevada, Las Vegas: • 3 undergraduate degrees • 4 master’s degrees • 2 doctoral degrees Nevada State College: • 2 undergraduate degree Logistics Map • One day truck service to seven states and over 56 million people. • Two-day truck service to 11 states and over 64 million people. Nevada Labor Nevada Avg. Current Wages, 2019 2019 2020 Jobs YOY Current NAICS Description Earnings Salaries, & Location Jobs Jobs 2019-2020 Supplements Per Job Proprietor Earnings Quotient 54 & 81 Life Sciences 11,891 12,319 3.60% $84,115 $12,710 $71,405 0.59 Southern Nevada, Clark County Avg. Current Wages, 2019 2019 2020 Jobs YOY Current NAICS Description Earnings Salaries, & Location Jobs Jobs 2019-2020 Supplements Per Job Proprietor Earnings Quotient 54 & 81 Life Sciences 6,514 6,754 3.68% $82,033 $12,395 $69,638 0.44 Northern Nevada: Washoe, Lyon and Storey Counties Avg. Current Wages, 2019 2019 2020 Jobs YOY Current NAICS Description Earnings Salaries, & Location Jobs Jobs 2019 - 2020 Supplements Per Job Proprietor Earnings Quotient 54 & 81 Life Sciences 3,404 3,543 4.08% $74,573 $11,251 $63,322 1.55 Source: EMSI, NV DETR and BLS Nevada Labor Life Science Jobs 14,000 12,000 10,000 11,891 12,319 8,000 6,000 6,514 6,754 4,000 2,000 3,404 3,543 - Nevada Clark County, NV Northern Nevada 2019 2020 *All counties are represented in Nevada Jobs. Northern Nevada includes Washoe, Lyon & Storey Counties. Sources: EMSI, NV DETR and BLS Nevada Business Advantages Nevada Tax Advantages: No personal state income tax No franchise tax No special intangible tax No corporate income tax No inventory tax No inheritance tax No estate and/or gift tax No unitary tax • Nevada has a low and business friendly tax climate • Low-cost renewable options • Proximity to major ports • Low cost of operation • Tax Abatements • Sales and Use Tax Abatement - Sales and use tax abatement on qualified capital equipment purchases, with reductions in the rate to as low as 2%. • Modified Business Tax Abatement - An abatement of 50 percent of the 1.475% rate on quarterly wages exceeding $50,000. • Personal Property Tax Abatement - An abatement on personal property not to exceed 50% over a maximum of 10 years. Potential Locations Nevada has numerous sites throughout the state supported by reliable NV Energy infrastructure for your electric loads. Northern Nevada: Reno properties 9575 North Virginia Street Echo Avenue and Mt Limbo 9585 North Virginia Street 9560 North Virginia Street Lear Boulevard 9595 North Virginia Street 9565 North Virginia Street 9555 North Virginia Street Southern Nevada 6350 Howdy Wells Avenue 3774 W Cheyenne Ave 5265 North Sloan Lane 4004 W Cheyenne Ave 1415 Raiders Way 4204 W Cheyenne Ave Suite 100 1431 Raiders Way 4208 W Cheyenne Ave Bldg A Potential Locations - Industrial Parks Northern Nevada Tahoe Reno Industrial Center Northern Nevada has new premium locations that are in development. NV Energy will closely monitor these sites and will provide periodic updates. Southern Nevada City View Industrial Park Vegas Industrial Park Golden Triangle 29 Golden Triangle 24 Golden Triangle 27 Miner's Mesa Industrial Park Electric Cost Comparisons 2019 Commercial Rates • Thru December 2019, 18.00 16.00 Nevada's average retail 16.86 14.00 14.54 price for commercial 12.00 customers was 16.4% 10.00 10.39 10.49 10.66 8.00 9.55 10.12 9.94 9.70 lower than Mountain states, 8.38 8.88 8.76 6.00 7.68 7.98 52.7% lower than 4.00 cents per centsper kilowatthour 2.00 California, and 25.1% lower 0.00 than the US. 16 2019 Industrial Rates • Thru December 2019, 14 12 13.52 Nevada's average retail 10 price for industrial 9.95 8 customers was 3.2% lower 6 7.23 than Mountain states, 55% 6.69 6.83 6.29 6.32 6.10 6.09 5.95 6.22 4 5.35 5.39 4.86 lower than California, and Cents per Kilowatthour per Cents 2 10.8% lower than the US. 0 Source: US Energy Information Administration Low-Cost Renewable Options NV Energy is committed to low-cost renewable solutions for our customers. In June 2020 NV Energy filed a historic $120 million reduction for southern Nevada customers, which if approved will go into effect on January 1, 2021. That is in addition to a statewide decrease in customer rates of $105.7 million effective April 1, 2020 and another $30.6 million if approved by the Public Utilities Commission of Nevada effective on October 1, 2020. In addition to our commitment to low costs, NV Energy is also working with our customers to create new tariffs like the Large Customer Market Price Energy tariff approved in April 2020 to support our ever-changing customer needs. Large General Service-3 Transmission Tariff (Standard South) • Current open rate class for customers with a minimum demand of 1000kW serviced at 60kV or above. No contract or agreement required. Renewable mix at 21%, growth to 50% by 2030. General Service-3 Transmission Tariff (Standard North) • Current open rate class for customers with a minimum demand of 1000kW serviced at 60kV or above. No contract or agreement required. Renewable mix at 21%, growth to 50% by 2030. Renewable Resources • Customers are currently benefitting from: • 15 Geothermal projects • 30 Solar projects • 4 Biomass/ methane/ waste heat • 5 Small hydro & Hoover Dam • 1 Wind project • 2,669 MWs of new solar with 1,028 MW of Battery Storage under construction, in development or pending regulatory approval Contact Information Contact: Jeff Brigger – Director, Business Development [email protected] | Cell: 775-354-8810 Follow us here: Economic Development | Nevada Site Locator Twitter = @EconomicNV Twitter = @NVSiteLocator Facebook = @nvenergyecondev Facebook = @nevadasitelocator LinkedIn = NV Energy Economic Development Instagram = @nevadasitelocator Resources: NV Energy Economic Development website Nevada Site Locator Governor's Office of Economic Development.
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