Thursday, March 11, 2004 | 11:10 a.m.
The Nevada Commission on Economic Development on Wednesday approved incentives for six companies looking to expand or relocate in Clark County, a move that could create 380 jobs.
State officials hailed the number of companies and jobs as another sign that the economic recovery is in full tilt in Nevada.
"Nevada is moving along very nicely in its economic development efforts, judging by the audience and the variety of companies here today," said Lt. Gov. Lorraine Hunt, chairwoman of the commission.
Among the companies receiving state aide in their efforts were Henderson-based YellowPages.com. The company received $117,162 in sales and use tax abatement and deferrals and property tax abatement to expand its online directory. The $1.6 million effort is expected to create 159 new jobs.
The biggest investment on the part of the state was $975,000 in sales and use tax abatement and deferrals for the $26.7 million expansion of PABCO Gypsum, a Las Vegas wallboard manufacturer.
PABCO's expansion would add 100,000 square feet to the company's existing Lake Mead Boulevard plant and 34 jobs.
CMX Las Vegas Studios also received $150,000 in incentives for a $2 million expansion of the company's television and motion picture production studio, adding 10 jobs.
Three companies considering opening new operations in Southern Nevada received incentives, including Scott Drake Enterprises. The company was awarded $93,750 to move its headquarters and manufacturing operations -- and 63 jobs -- to Henderson from Oxnard, Calif.
The company manufactures automotive replacement parts for Ford and General Motors vehicles. Company President Scott Drake said Las Vegas is leading a group of finalist locations that also includes Arizona and Oregon.
Pittsburgh-based Novum Pharmaceutical Research Services received $16,753 to open a $700,000 office in Las Vegas. Company President Chris Hendy said the company will lease about 22,000 square feet here and hire 40 employees in the first 12 months to conduct research studies.
Do It Best Corp. received $438,750 for a 500,000-square-foot distribution center in Mesquite. The lumber and hardware cooperative company pledged to hire 94 employees.
Mesquite is competing with two Arizona locations for the $22 million project. With the incentives, Nicholas Grimmer, Do It Best corporate counsel, said the town's proposal was "significantly ahead of its counterparts in Arizona as being a done deal."
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