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April 24, 2014

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Company receives $1.1 million to relocate safe business to Nevada

The Governor's Office of Economic Development is using $1.1 million from an economic development fund to lure a company from California to Henderson that will eventually employ 275 workers.

Cannon Safe Inc. makes safes for homes and businesses — assembling, welding, painting and installing electronic locks in 600 safes a day. Its customers include Amazon, Costco, Sam's Club, Home Depot and other retailers. Company officials told the Economic Development Commission on Thursday they will purchase 8 acres of land, build a plant and buy equipment in the area — an investment of $25 million.

Aaron Baker, CEO and president of Cannon, said the business climate in California was not friendly so he intended to move his private company to either Nevada or Texas. But he told the commission Nevada "is a better fit."

Baker said the company would create 50 jobs initially and hire 275 workers over a four-year span. The average wage of the new jobs will be $18.16 an hour plus health and retirement benefits. Supervisors from San Bernardino, Calif., will come to Nevada, but the company intends to hire other employees from the local market.

Cannon has grown by 30-40 percent a year during the past four years, according to Baker.

After the vote by the commission, Gov. Brian Sandoval said the company would be a "wonderful addition. It's where we want to focus."

The Catalyst Fund was created in 2011 to provide an incentive for companies to move to Nevada.

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