With the assistance of the Las Vegas Global Economic Alliance (LVGEA), 1,775 jobs are projected for Southern Nevada (five year projection) as nine companies that plan to expand in the region were approved for state incentives on May 17, 2018 by the Nevada Governor’s Office of Economic Development (GOED) board of directors:
- Caremark, LLC / CVS
- Sephora USA
- KRS Global Biotechnology, Inc.
- Ritchie Bros. Auctioneers
- 3PEA International
- Alpha Guardian
- Cannae Holdings, Inc.
- Fortress Innovations
“The LVGEA and our partners in economic development are proud to announce the expansion of these nine companies – the largest number of projects our organization has ever presented in a single GOED board meeting,” said LVGEA Chief Operating Officer Jared Smith. “Nevada’s pro-business climate, ready workforce, and strategic location encourages the growth of these dynamic companies choosing our region and strengthens our economy.”
Since Jan. the LVGEA has assisted in the expansion and relocation of 20 companies, projecting a total of more than 3,312 jobs over five years.
Caremark, LLC (CVS): 500 jobs (five year projection); average wage: $25.73
Caremark, LLC/CVS plans to expand its base of operations to Clark County, to include the creation of a prescription management service center. The new facility would support operations for CVS/Caremark and CVS/Specialty, providing pharmacy care services and disease management support for CVS/Caremark members.
This project would expand Nevada’s pharmaceutical sector by providing high paying employment opportunities and creating entry level Pharmacy technician positions.
The LVGEA assisted Caremark in the application of incentives. The company is in favor of Southern Nevada because of the low cost of operations.
Learn more about Caremark/CVS at caremark.com.
Sephora USA: 460 jobs (five year projection); average wage: $24.05
Sephora USA, Inc. is considering opening a 715,000 sq. ft. facility in Southern Nevada. The proposed project will be a new regional distribution center that will ship products to stores and customers located in 11 western states.
Sephora is a French chain of cosmetics. Featuring nearly 300 brands, along with its own private label, Sephora offers beauty products including makeup, skincare, body, fragrance, nail color and haircare. It operates approximately 1,900 locations in 33 countries worldwide, with an expanding base of over 430 stores across the U.S.
The LVGEA assisted Sephora in the application of incentives, which is a key factor in the company’s strategic decision to consider creating a presence in Nevada. Additionally, Sephora is also considering the region because of the pro-business climate.
Learn more about Sephora at Sephora.com.
KRS Global Biotechnology, Inc.: 320 jobs (five year projection); average wage: $25
KRS Global Biotechnology, Inc. is planning to expand to the region and potentially build a new 150,000 sq. ft. licensed pharmaceutical manufacturing facility. This facility would house new clean rooms, production lines and warehousing.
KRS Global Biotechnology creates custom pharmaceuticals, sterile products (i.e., syringes and IV bags), purified water for drug manufacturing and kits used by hospitals and other compounding pharmacies to test their technicians.
The LVGEA assisted KRS Global Biotechnical in the application of incentives, which played a key role in the company’s decision to potentially locate to Las Vegas.
Learn more at krsbio.com.
Ritchie Bros. Auctioneers: 55 jobs (five year projection); average wage: $22.94
Ritchie Bros. Auctioneers (RBA) is expanding its Southern Nevada operations to establish a 169,080 sq. ft. warehouse facility that will be used to manage the storage and distribution of equipment. This warehouse will be the central processing center in the region that handles storage, logistics, inventory management, auction management and delivery orders.
RBA is the world’s largest industrial auctioneer. Through unreserved public auctions, the company sells a broad range of used and unused industrial assets such as equipment, trucks and other assets utilized in construction.
The LVGEA assisted RBA in the application of incentives. The company chose to expand within Southern Nevada because of the critical logistics hub that supports the western U.S. and the strong infrastructure with quality human capital resources in Nevada.
Learn more at rbauction.com.
3PEA International, Inc.: 85 jobs (five year projection); average wage $40.20
3PEA International designs and develops payment solutions, prepaid card programs and processions services under the PaySign brand name for corporate consumer and government applications.
In order to accommodate its Southern Nevada expansion plans, 3PEA International, Inc. is seeking to relocate from its current 11,541 sq. ft. space to a 21,000 sq. ft. facility. Additionally, to support growth plans, the company’s plan is to hire from within the state of Nevada.
The LVGEA assisted 3PEA International in the application of incentives, which was a key factor in the company’s expansion strategy. Projected cost savings from the support of these incentives will allow it to hire more full time employees.
Learn more about the company at 3pea.com.
Pictographics: 50 jobs (five year projection); average wage: $27.35
An industry leader in print technology, Pictographics plans to expand its existing Southern Nevada manufacturing facility. As part of the expansion, the company will be bringing in multiple 3D printers to expand its services in that space.
Utilizing the latest hardware to deliver the highest quality products with environmentally friendly inks and paper, Pictographics is a high-tech manufacturing company that produces graphics for events, trade shows and more.
The LVGEA assisted Pictographics with the application of tax incentives. The company aims to diversify Nevada’s economy by increasing manufacturing and high-tech industry and promoting sales outside the state and the U.S.
Learn more about Pictographics at pictographics.net.
Alpha Guardian.: 60 jobs (five year projection); average wage $26.92
Alpha Guardian—a leader in the residential safe, security and storage industry—is planning to expand its current Nevada operations and also considering relocating its Chicago Stack-On brand operations from Illinois to Las Vegas. The planned expansion would require a facility of at least 100,000 sq. ft, which would house the company’s corporate operations.
The LVGEA assisted Alpha Guardian in the application of tax incentives, which was a key factor in its decision making process to locate operations in the state. Nevada was chosen for its overall incentive package and pro-business climate.
Learn more about Alpha Guardian at alphaguardian.com.
Cannae Holdings, Inc.: 65 jobs (five year projection); average wage $36.90
Cannae Holdings, Inc.—a diversified investment company—is considering building a headquarters operation adjacent to its existing Las Vegas facility. The company would seek to primarily hire financial, information technology and accounting personnel to support its headquarters and operations.
The executive group of Cannae Holdings includes Bill Foley, owner of the Vegas Golden Knights hockey team. The firm primarily invests in restaurants, technology enabled healthcare services, financial services and more.
The LVGEA assisted Cannae Holdings in the application of incentives, which was a key factor in its decision-making process to locate its operations in the state. Nevada was chosen for its overall incentive package and pro-business climate.
Learn more about the company at cannaeholdings.com.
Fortress Innovations: 180 jobs (five year projection); average wage $25.18
Fortress Innovations, Inc. plans to build a 315,000 sq. ft. permanent manufacturing facility in Southern Nevada. The company distributes a suite of insulation paints and coatings for commercial, industrial and domestic/residential use.
Learn more at fortressbp.com.
About Las Vegas Global Economic Alliance
The Las Vegas Global Economic Alliance (LVGEA) is a public-private partnership dedicated to growing the economy in Southern Nevada through connectivity, community development, and strong business recruitment, retention and outreach. As Southern Nevada’s regional development authority, the LVGEA’s vision is to help residents thrive in a global economy by fostering a more prosperous, diverse and connected regional economy. To learn more, visit lvgea.org.