Northern Nevada Development Authority touts $1 billion economic impact

CARSON CITY — The Northern Nevada Development Authority said Monday that its efforts have attracted companies that hired 4,000 workers and produced $1 billion in economic impact in the last three years.

Gov. Brian Sandoval and Rob Hooper, executive director of the authority that works in five Northern Nevada counties, announced the milestone in a ceremony on the Capitol steps.

The authority calculates “economic impact” using economic models that count each job from a company leading to 1.5 jobs created in the region, Hooper said. Companies that relocate to the area receive tax incentives such as a reduction in sales taxes and modified business taxes. The average job pays $21 an hour.

Among the companies moving to the area was Toys R Us, which hired 400 people for a distribution center in Storey County.

About 1.5 companies locate to the region each month, Hooper said.

Contact Capital Bureau Chief Ed Vogel at evogel@reviewjournal.com, or 775-687-3901.