Google sign on the company’s data center site in Henderson, Nevada. (Photo: Image from Google)
Google has pledged to contribute an additional $ 600 million to a new data center in southern Nevada as tech giants have secured state approval for a range of tax incentives related to the project. ..
With this investment, Google’s total financial commitment to Henderson’s data center will reach $ 1.2 billion after the initial $ 600 million investment in the facility. Overall, Google, which also has a data center in the Tahorino Industrial Center in northern Nevada, has invested more than $ 1.8 billion in the state, Governor Steve Sisorak said.
Sisorak joined seven members of the Economic Development Board’s board on Wednesday afternoon to approve an incentive of over $ 25 million for the Google Henderson data center.
GOED executive director Michael Brown said this was a very good deal for Nevada. In exchange for the $ 25 million savings Google receives, the company will generate $ 427 million in economic benefits over 20 years and generate $ 94 million in tax revenue over 20 years.
Incentives requested through Google’s subsidiaries Design, LLC include a 20% sales tax reduction of 2% and a personal property tax reduction of 75%. These savings are worth $ 16.8 million and $ 8.25 million, respectively.
Details: Google’s 1,210-acre large facility in the highlands of the Tahoeino Industrial Center
Projects such as Google’s data centers are critical to helping the state recover and diversify at the same time, as the Nevada economy was hit hard by COVID-19, according to Sisorak.
According to Siberac, it’s no secret that Ive reserved some of our abatement programs. It is also no secret that we have been repositioned as the most affected country of the crisis due to the current economic situation.
The board also approved a $ 8.6 million incentive for the Thacker Pass project Lithium Nevada Corp. in Humboldt County. Proponents of the lithium extraction and processing project hope that Nevada will become a global player as renewable technologies such as electric vehicles become more accepted.
Dan Klaich, a member of the GOED board, has seen many applications, which actually check every box. I am very much in favor of this and am excited to support a rural project in Nevada.
The state has approved cut-offs to attract large-scale projects such as the Tesla Gigafactory to Nevada, but such incentives are also controversial. Since 2014, GOED has approved more than $ 2.1 billion in savings and estimates that it has resulted in more than $ 5.3 billion in net new taxes.
The state is considering the possibility of tightening the requirements for reductions, which the Board will discuss at a meeting on December 2. GOEDs Brown states that the law can afford to change standards, but changes to reduction programs are most often discussed by the board at public meetings.
Mr Brown also noted that some board members have expressed concern about the reduction process.
According to Mr Brown, the board expressed concern that the applicant did not meet the criteria (to qualify for reduction) slightly. I think it’s time to change the reduction standards we have.
Currently, Nevada requires companies to pay workers 100% of their average state wages, requiring Nevada residents to make up 75% of their employees to qualify for reductions. Mr Brown recommended raising these requirements to 125% of the average state salary so that 90% of employees are residents.
This is a developing story and will be updated.
Jason Hidalgo covers the business and technology of the Reno Gazette Journal and also reviews the latest video games. Follow him on Twitter @jasonhidalgo. Is it such content? Support local journalism with RGJ Digital Subscription.
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