Las Vegas Sun

September 1, 2014

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State OKs $1.5 million in tax abatements for distribution facility

The Governor’s Office of Economic Development conducted a meeting today in Las Vegas, with most of the agenda dedicated to considering tax abatement incentives to companies considering expansion or relocation to Nevada.

Five of the 12 companies seeking tax abatement incentives from the state plan properties in Clark County.

The issue: New York-based Fab Fulfillment sought sales tax and modified business tax abatements worth $1.5 million.

The vote: 8-0

What it means: Fab, an e-commerce design company with 11 million registered users, plans to build a distribution facility in Southern Nevada and will hire 34 employees with an average wage of $21.91 and invest $24.3 million in capital improvements and equipment.

Chief Operating Officer Beth Ferreira said the company, which was launched in 2011 and had 530 percent growth in its first year, would also hire more than 200 contract employees and some seasonal employees. Over 10 years, the company is expected to have an estimated economic impact of $135.4 million and produce direct and indirect tax revenue of $8.8 million.

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