North Las Vegas Growth and Development Efforts

North Las Vegas has shaped an Economic Diversification District at the Apex Industrial Park that will produce substantial job creation and promote smart business growth by means of the Senate Bill 1 – Tesla Bill.

These new economic efforts provide the same incentives to businesses that Tesla received: tax abatements, tax credits, and a rate rider program that lasts 5 to 10 years. Zoned M2, the Apex Industrial Park allows industrial and ancillary uses with a foreign trade zone available as well. A TIF district, tax increment financing, has been placed over the Apex furthering the support for this hefty industrial enterprise.

Grownomics

Entering a phase of “grownomics”, a term pushed by Mayor Lee of North Las Vegas, the city is engaged in actively pursuing businesses and business endeavors that are diversified and are able to take advantage of the present tax breaks. With 6,000,000 yards of dirt to move, Apex Park is 7,000 acres of land just 20 minutes north of Las Vegas, with access to I-15, US-93 and Union Pacific Railroad.

All major utilities have been either master-planned into the community or are currently on site with the exception of one – the park is in the process of acquiring Cox in the nearby future. There are plans for Apex Central to use 300 acres of land for solar energy development however there has been no such agreement between NV Energy as of yet.

Waveseer

One such company willing to take the lead on crafting businesses with tax breaks is Waveseer of Nevada, a medical marijuana firm, headed by Chicagoland native David Rosen. Mr. Rosen and Waveseer of Nevada have procured an old shrimp facility to convert into a medical marijuana growing facility forming alternate economic sources for North Las Vegas.

The adaptive reuse of the building will be the largest piece of the development puzzle for Mr. Rosen: removing large water tanks, unwanted furniture left, installing vast amounts of security cameras, and simply ridding the smell of shrimp throughout the facility are major concerns when updating these structures. However, after a market study was completed Waveseer of Nevada and its investors were convinced the risk was worth it, and this project would generate several million to several billion dollars in income and tax recuperation annually.

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Located in the Apex Community Center North, this business consists of 5 facilities including a 5,000 square foot building, and all will be heavily guarded by security and regulated by financial and legal institutions. Mr. Rosen mentioned possible expansion plans to include 100,000 square feet of space and 7 acres of land throughout Las Vegas and Henderson. In their due diligence requirements Waveseer of Nevada recognized food (plant nutrients, etc.), specialized labor, and power as their foremost operating costs. The company will adapt the current physical structure to fit the current uses and future needs of the growing facility, transforming an old shrimp farm into a highly secure growing business.

Managing Concerns

Site specific concerns include the heavy consumption of water and electricity, and the smell emitted from the buildings. Mr. Rosen believes that with the water being recycled during the growing process; using carbon filters that will reduce odor to 0% or a very minute smell, and working with the Apex to use the 32.2 megawatts of power provided and disseminated between the 13 facilities will build a sustainable business model potentially for other growers and/or the Apex business community.

The 5,000 square foot shrimp facility for Waveseer of Nevada will be renovated in approximately one week’s time and should be active the week of July 20th, 2015. Beginning from this renovation completion point, tours to Waveseer of Nevada growing facility will be limited because of the proprietary information regarding the growth of Waveseer of Nevada’s medical marijuana. However as the project continues over the next 3 to 5 years public information will be provided about the Apex Industrial Park regarding it’s progress and successes thus far, allowing residents and businesses to keep track of this company’s development.

This accounts for only one business that has taken the steps to employing attractive tax abatements with hopes of stimulating the local economy and spurring growth and development throughout the Valley. This master capital plan encouraged by the City of North Las Vegas, plus other options for development and attraction to North Las Vegas continues to foster positive business partnerships throughout Southern Nevada and propels confidence for growth for the future.

About the Author: GDW

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