Nevada has approved incentives designed to help four Southern Nevada companies either establish new operations or expand in the region.
The projects approved during the Nevada Governor’s Office of Economic Development Board meeting, represent more than $9.2 million in new capital investment and nearly 325 new jobs across Southern Nevada. Representing a mix of industries, Welspun USA, FAAC Inc., DieselCore and a financial technology company, are investing in Southern Nevada with support from GOED, local jurisdictions, numerous business, brokerage and higher education partners and the Las Vegas Global Economic Alliance.
Welspun USA, a global home textiles leader, is opening its third U.S. manufacturing facility in Southern Nevada, representing $5.15 million in capital investment and 50 new jobs with an average wage of $31.73 an hour. The project is expected to generate a two-year fiscal impact of $1.3 million and a two-year economic impact of $27 million.
Welspun, part of the Welspun Group, has a global presence in over 50 countries and a workforce of 26,000 employees. Its products, ranging from towels and sheets to rugs and bedding, are known worldwide for their quality and innovation. Their portfolio includes many household names such as Martha Stewart home products and Wimbledon towels.
“This facility represents our vision for a future-ready manufacturing ecosystem in the United States,” said Keyur Parekh, CEO and Global Business Director, Welspun USA Inc. “By combining cutting-edge technology with local talent and scalable capacity, we aim to deliver high-quality products that meet evolving consumer expectations while contributing meaningfully to Nevada’s economic landscape.”
FAAC Inc./MILO Live, the world’s leading supplier of high-speed weapon system simulations, is expanding into a larger facility in Clark County to consolidate its existing Las Vegas operations. For more than 45 years, FAAC has provided simulation and engineering systems for the U.S. government and private industry, including modular shooting range fabrication.
The expansion represents 10 new skilled jobs with an average wage of $31.62 an hour and $1.53 million in capital investment. The project is expected to generate a two-year fiscal impact of $259,057 and a two-year economic impact of $6.48 million.
“Our new facility marks an exciting milestone for MILO Live and for the Las Vegas Valley community we’ve proudly been a part of for more than 33 years,” said Jake Cook, executive director of MILO Live. “This relocation expands our production capacity in the live-fire manufacturing market and enhances our ability to deliver our innovative modular products. It also provides our employees with a modern, improved work environment — a reflection of our ongoing commitment to the people who are the foundation of our success.”
DieselCore, a Houston-based supplier and distributor in the diesel engine and parts remanufacturing industry, is establishing a new facility in the city of North Las Vegas. The company provides rebuildable cores, used but restorable components, for a range of industries including automotive, agricultural and construction.
The company focuses on reducing waste, conserving raw materials and promoting environmentally conscious manufacturing through remanufacturing and reuse. The new facility represents $1.12 million in capital investment and will create 20 new jobs with an average wage of $31.61 an hour. The project is expected to generate a two-year fiscal impact of $432,235 and a two-year economic impact of $12.9 million.
“Nevada offers the ideal environment for DieselCore’s next phase of growth,” said Justin Greenberg, president and CEO of DieselCore. “The state’s strong business climate, access to skilled talent and commitment to sustainability align perfectly with our mission to deliver renewable, high-quality solutions to the remanufacturing industry. We’re proud to invest in Nevada and excited to build lasting partnerships that drive both economic and environmental progress.”
In addition, a financial technology company is expanding its operations in Henderson, bringing 245 new jobs with an average wage of $33.31 per hour and $1.38 million in capital investment. The project received approval for sales and use, modified business and personal property tax abatements through the State of Nevada Governor’s Office of Economic Development. It is expected to generate a two-year fiscal impact of $2.58 million and a two-year economic impact of $107.3 million.
“These projects highlight the significant opportunity for company expansion in Southern Nevada,” said Danielle Casey, CEcD, president and CEO of the LVGEA. “From advanced manufacturing and distribution to fintech, these companies are investing in our people, our communities and our shared future. Their success is Nevada’s success.”
