Viewpoint summer fall 2014

1 VIEWPOINT SUMMER/FALL 2014 VIEWPOINT SUMMER/FALL 2014 1

PERSPECTIVES FROM NEVADA’S SIERRA REGION

SUMMER/FALL 2014

THE SUN IS SHINING ON NEVADA’S ECONOMY


TABLE OF CONTENTS

775.882.2111 nevadaappeal.com

ANDREW HASKIN

Editor

ROB HOOPER

NNDA

Executive Director

DARIN BLISS

Design & Layout

TONYA CHAMPA

Project Coordinator

PAT BRIDGES

Advertising Director

MARK RAYMOND

Publisher

PUBLISHED BY:

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NNDAView from the trailhead

State of NevadaGovernor’s Note

Vineburg MachiningA Move Worth Celebrating

CristekExpansion into the Sierra Region

Nevada State EB-5Finding Success in the Sierra Region from Abroad

Nevada Incentives Competing for Your Business

Briggs ElectricAn Investors Viewpoint

Western Nevada CollegeWorkforce Education Committee Identifying Assets

NNDAStories of Success: Tahoe Cheese

Comstock MiningA Promising Year for Comstock Mining

NNDACommercial Real EstateTeam

NNDAA Trojan-Horse Virus for Our Economy

Adams HubInspiring Entrepreneurs & Innovation in the Community

Builders Associationof Western NevadaHope in the Numbers

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775.882.2111 nevadaappeal.com

ANDREW HASKIN

Editor

ROB HOOPER

NNDA

Executive Director

DARIN BLISS

Design & Layout

TONYA CHAMPA

Project Coordinator

PAT BRIDGES

Advertising Director

MARK RAYMOND

Publisher

PUBLISHED BY:

Have you heard the news? Our trail has reached greener meadows with flowing water. In other words; the economy is coming back! All the signals are green. Unemployment has fallen and continues to improve. Factory orders are up. New homes are being built. There has been an explosion of new retail throughout the region. Counties are seeing a return of prosperity. The trail ahead looks great.

NNDA, your regional economic development authority, is happy for this rebounding of success. We have been on the front lines of this battle and continue to work for the betterment of the Sierra Region, for all Nevadans. Even during this huge economic recession, we have not only kept the wheels turning, we have also strengthened our programs, launched new ones and have become a more lean and effective agency.

As most of you know, we are the contracted agency by the Governor’s office to represent him in all things pertaining to economic development within the Sierra Region. This includes Carson City, Douglas County, Storey County, Lyon County and Churchill County. In our broad approach we have worked diligently to improve the entire ecosystem of business success to create jobs by supporting our existing companies in the region, attracting new businesses to settle here and helping stand up new ventures.

NNDA’s community of action committees and our involved elected officials have helped to orchestrate new workforce development programs, developed capital acquisition pipelines for existing and startup businesses, taken on the modification of state and local regulations that hamper business growth and provided many direct and indirect support functions. In addition to this, the business attraction team has over the past three years created $1.3 Billion in combined economic impact to the region. Folks, the grass is getting greener.

However; the job is not done. We still have a ways to go to completely regain the strengths that we enjoyed in our growth economy. This time, though, due to the strategic leadership of Governor Sandoval, we will see a more balanced, diversified and sustainable economy emerge. But folks, to finish this phase of the job and to establish a continuous improvement process for our economic development, we need your help. Both time and treasure are required to keep the growth on target.

I invite you all to contact us at NNDA and find out how you can get involved. How you can serve on one of our committees and bring your ideas and talents. If we all work together for the common good of our region, the rising tide will float all boats, including yours. Let’s seize the success our children and their children deserve.

God Bless,

By Rob Hooper, Executive Director, Northern Nevada Development Authority

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775.883.4413nnda.org

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Vineburg Machining: A MOVE WORTH

CELEBRATING FROM THE OFFICE OF THE

GOVERNORDear Friend:

Nevada is on the road to recovery. Just a few years ago, Nevada’s economy was in turmoil. As the great recession plagued our country, Nevada was hit especially hard---jobs and homes were lost, construction projects were left half completed, and our growth stopped, practically overnight. These were the toughest economic conditions Nevadans have experienced in over a generation.

Nevadans are resilient, and together we have made great strides in our ongoing effort to rebuild our economy and get Nevadans working again. While I will be the first to admit that there is more work to be done to fully rebuild our economy, I do believe the clouds of the economic storm have begun to clear.

On day one of taking office, we focused on job creation, economic development, and job training. As a result of our efforts, Nevada’s job growth in 2013 was the strongest in the nation. Our state has experienced 38 consecutive months of job growth, and our unemployment rate continues to drop year over year. Over the past three years we have added 60,700 jobs in Nevada. More businesses are hiring, and new businesses are seeking to relocate or expand in our great state.

Our partnerships with the local development authorities have been instrumental to our economic recovery. Having toured hundreds of businesses throughout the state, I have seen firsthand the struggles and the triumphs of our business community. While we continue to have positive economic news, there are still too many Nevadans out of work. Growing jobs in Nevada will continue to be one of my highest priorities. With that said, we have made much progress together, and I look forward to continuing our work to make Nevada the best it can be.

All Nevada!


Vineburg Machining: A MOVE WORTH

CELEBRATING

In 1977 Vineburg Machining got started in the high volume machining industry with nine employees. With continued growth over the years, computer operated machines (CNC) were added in 1985 to enhance the company’s machining capabilities. By 1998 the company employed 96 people. In 2000 a recession took its toll and was deepened by 9/11 where the company was down to 36 employees by 2003. With reorganization efforts at that time it was decided to make a move to Carson City, NV. due to the many tax benefits, business climate and lower cost of living the state offered. This was accomplished by November of 2003 of which a total of 18 employees and families made the trek.

In the next ten years VMI focused on buying more and more state-of-the-art equipment that could be operated on a so called “lights out” basis. The other focus was on strengthening our client relationships which would not likely take their product outside the US to foreign markets.

There were many challenges over the years, but mainly competition from outside the US made us realize we had to start looking to create a niche within the market and become more reliant on high-end products no one else would do.

A major focus was made on how to automate processes by engaging state-of-the-art equipment as well as pursuing continuous improvements in all areas of the business to cut costs.

For example, VMI started making basic components for the hardware and tool industry back in 1977 and is now heavily involved in producing highly complex products within the medical, military, architectural hardware and aerospace industries to name a few.

By Gerd Poppinga, CEO/President, Vineburg Machining Inc.

The past year has shown many signs of an accelerating economy in Nevada. After many hard years of struggling, families, businesses and our local and state governments, are starting to see good things happen.

In time, we eventually reached out to the NNDA for support and guidance with the many helpful services they offer. Thru their efforts they helped us attain the necessary capital and resources needed to grow our business. They also created a program to help us and others attract skilled employees which will better our position within the marketplace. We are looking at a cooperative worker trade program locally with other manufacturers to bring in young talent as well.

Because of local organizations like the NNDA, together we engaged high schools and colleges to promote machining experience and training to supply the workforce with qualified personnel to help spur growth in northern Nevada. An example of this is VMI’s general manager provides advanced programming and education at Western Nevada College in Carson City.

In the near future VMI will be implementing robotics, advanced software and other technology to help increase growth and efficiency thanks in part to these strong local partnerships.

In conclusion, if anyone were to ask us if we were happy with the move to northern Nevada and the support we received we would without a shadow of a doubt say we would happily do it again!

Find Businesses and Charities You Can Trust

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Cristek: EXPANSION INTO

THE SIERRA REGION

• A 7.5 minute wait at the Department of Motor Vehicles to get my license

• I had a question about my property tax bill and was given a personal explanation by the Assessor

• I walked into the hospital emergency room in Carson City for non urgent care and was examined by a courteous doctor within 22 minutes….all this prior to being compelled to show my insurance card!

Bottom line profits are critical but the key to Cristek’s long term success is the quality of the people I work with everyday! Commitment to a culture rich in opportunities for employee advancement and quality of life is how we attract and motivate the best and the brightest people. Cristek’s recent expansion of operations into Nevada to the Bently Science Park in Douglas County last year was a major decision sure to create bottom line results and strengthen Cristek’s employee value proposition.

Despite the unique value proposition of Cristek’s Southern California and New England facilities, in November 2012 the need for a business friendly manufacturing

location to solidify Cristek’s long term positioning against lower cost competitors became urgent. While affordability was a primary consideration, other equally important factors included quality of life for employees/families, accessibility to established Southern California infrastructure and availability of a qualified, motivated and stable workforce.

THE SEARCH

Several years ago, my husband and I fell in love with Job’s Peak overlooking the Carson Valley, and after returning several times to the area, placed Carson Valley on our shortlist for retirement. It was therefore natural to include Northern Nevada among Cristek’s options for any planned expansion facility. The Cristek team’s investigation included the greater Phoenix area, Las Vegas and Northern Nevada.

Cristek’s long term business bank, City National, initially connected me with a Carson City client who led me to Ray Bacon of the Nevada Manufacturers Association. Ray provided an important

introduction to NNDA which has been a key asset from the start – supplementing and connecting us with other important community stakeholders supporting our journey to Minden, Nevada.

Prior to crunching numbers, first-hand accounts from local business leaders about the viability of the region to support a manufacturer like Cristek were needed. Without the availability of great employees, quality manufacturing infrastructure and the support of the local government and higher education, a low cost solution would be worthless. Nevada Manufacturers Association, NNDA and City National Bank organized/hosted a peer to peer business lunch with other local manufacturing executives. Our management team could ask tough questions and receive unvarnished feedback. The candor and enthusiasm of the attendees was refreshing and provided a window into future support and hospitality.

Several weeks later, at a dinner hosted by American AVK, employees and spouses previously relocated from Southern California donated an evening to share their experiences with a team of visiting

By Cristi Cristich, Founder & President, Cristek Interconnects Inc.

Let me start with sharing some personal experiences over the last year that have far exceeded my quality of my life expectations…Any current Californians will find these experiences inconceivable but they really happened to me!


Cristek employee opinion leaders. Cole & Toni Smith of SNRG stepped in the following day to provide a relocation briefing and neighborhood home tour.

Definitions of quality of life slightly differ; however, for working families, quality of education, affordability of housing, safety of the community and the availability/accessibility of recreational opportunities are always present. Northern Nevada was the undisputed winner on quality of life and as special needs and follow up issues arose in all cases, NNDA was able to provide a reference, a resource or an answer.

NNDA, GOED & DOUGLAS COUNTY DELIVER!

The executive and employee due diligence completed, it was time to finalize the number crunching. While extremely affordable when compared to California,

Douglas County was slightly more expensive than Phoenix and Las Vegas. Cristek would be making a major investment (ie: lose money for 2-3 years), so I wanted to see if the State would be willing to put some “skin in the game”.

NNDA was able to fulfill my request by guiding Cristek through GOED’s Catalyst Fund process and other training and tax support that was available to businesses who provided high quality jobs and invested in capital equipment. While the funding is not intended to subsidize a significant portion of Cristek’s expenses it showed me that Nevada was open for business and that they valued Cristek. The performance based nature of the funding appealed to my limited government values. Cristek, NNDA, Douglas County, and The State of Nevada are leveraging resources to bring sustainable jobs and economic growth to the area.

NEARLY 1 YEAR LATER

Personal site visits from NNDA and County officials ensured a streamlined permitting and build out process for our facility. When we were ready to recruit some local talent a call to the Record Courier yielded an immediate interview and article about our job fair. Initial assumptions about the availability of qualified and enthusiastic workers have been validated through the quality of the job fair applicants and our initial 10 employees.

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Nevada State EB-5: FINDING SUCCESS IN THE

SIERRA REGION FROM ABROADBy Lynn Beteag, Operations Manager, Nevada State EB-5

Then there are the businesses within each community where no single industry is the dominant force for the entire region. There are businesses of all shapes and sizes providing all types of products and services; no two businesses are the same. One thing that every business in the Sierra Region, whether it be a startup or an existing firm looking to expand, does have in common is at one point or another each one needs capital. Some are funded privately, some are funded by banks through traditional loans, and others are funded by investors looking for a high return on their investment. More than likely, most companies are funded through a combination of different sources. One opportunity that is available but most are unaware of is foreign direct investment (FDI). FDI is often disregarded because it is difficult to connect with overseas investors. Most companies or entrepreneurs wouldn’t know where to start when it comes to finding an investor from another country; It is a daunting task, but it is exactly what the Nevada State EB-5 Regional Center does.

The Nevada State EB-5 Regional Center (NVEB-5) is a non-profit corporation created to promote economic growth

through foreign investment capital within the State of Nevada. The program is designed to pair foreign investors seeking U.S. residency with projects seeking funding in Nevada. Having received certification from the United States Citizenship and Immigration Service (USCIS) as a qualified participant in the Immigrant Investor Program on July 15, 2013, NVEB-5 is working to connect these investors with accepted projects. The Nevada State EB-5 Regional Center was designed and implemented by officers of the Northern Nevada Development Authority (NNDA) and the Hop and Mae Adams Foundation (HMAF), both non-profit corporations, whose stated missions are to improve the economy of Carson City and the surrounding Sierra Region of Nevada for its residents’ benefits.

EB-5 denotes the fifth employment-based preference immigrant visa category, which was created by the United States Congress in 1990, as Section 203 (b) of the U.S. Immigration and Nationality Act. This preference is available for qualified foreigners seeking to invest in a business that will benefit the U.S. economy and

create or save at least ten full-time jobs for U.S. workers. The basic amount required to invest is $1 million, although that amount is reduced to $500,000 if the investment is made in a rural area with high unemployment (“Targeted Employment Area (TEA)”). There are 3,000 green cards reserved each year for foreign nationals who invest through an EB-5 Regional Center. USCIS estimates that more the 90% of EB-5 visas are based on Regional Center investments.

Since 2008 the EB-5 Program has grown exponentially nationwide thanks in most part to the strong “post-recession demand” for “at risk” capital in the U.S. and the supply of unprecedented wealth that now exists overseas. This new macroeconomic reality is the environment for which this innovative regional economic development policy was designed. With investor petitions more than doubling between fiscal years 2011 and 2012, program utilization was at an all-time high. This huge increase accounted for approximately $2.0 billion in foreign direct investment in 2012. In 2013 Investor demand was once again at record levels adding approximately $2.0 billion

The Sierra Region of Northern Nevada is a diverse area. There are mountains, and valleys, with forests and deserts. There are rural areas and city areas each with their own diverse populations.


W

to the over $6.5 billion in EB-5 capital formation since 2005. Since 2005, over 131,000 American jobs have been created thanks to the EB-5 Program and the number is growing every day.

People looking to make an EB-5 investment must meet strict requirements before they are approved for the program. The platform requires the investment made by the investor to create ten U.S. jobs in order to qualify. Under the Program, it is not necessary that the foreign investor’s enterprise directly employ ten U.S. workers. Instead, it is sufficient if ten or more jobs will be created directly or indirectly as a result of the investment. Regional Centers like the NVEB-5 aid foreign investors by directing and professionally managing their

investment in the designated industry and geographic focus of the Regional Center.

Before an investor can participate in a Regional Center’s EB-5 investment program, each investor must independently petition the United States Citizenship and Immigration Services (USCIS) for an EB-5 visa. USCIS solely determines whether the investor qualifies for the EB-5 visa. This requires a background check, including detailed review of the sources of the investor’s funds, family history, and other representations.

Qualified investors investing through a Regional Center receive a conditional green card valid for two years. At the end of the time the investor files another application showing that their money was

“at risk” during the two year period, and that the jobs have been created. Once these applications have been approved, the investor and his/her immediate family become permanent green card holders and can later apply to become U.S. citizens. The whole EB-5 immigration process can take up to five years depending upon the timeliness, quality and validity of the investor’s submissions.

With a little bit of luck and a lot of hard work the EB-5 program can benefit both the investor and the company receiving the investment. The investor gets a pathway to citizenship and the business gets the capital they need to remain or become competitive.

More information about the NVEB-5 programs can be found at www.nveb5.com

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Nevada Incentives: COMPETING FOR YOUR BUSINESS

By Danny Campos, Vice President of Business Development, Northern Nevada Development Authority

Nevada’s already business friendly tax structure is made even better by the incentives offered to companies creating new jobs. The State is currently offering two types of incentives; tax incentive and training incentives

TAX INCENTIVES

SALES AND USE TAX ABATEMENT – Nevada offers a sales and use tax abatement on capital equipment expenditures for qualifying companies. In order to qualify for the abatement the company must meet two of three requirements. The first requirement is the company can equal or exceed the average wage in the county and provide health insurance coverage to its employees and pay at least 50% of the employees premium cost. The second requirement involves creating a minimum amount of jobs based on the population of the city or county the business will be located. The final requirement involves the company making a large enough capital investment, again based on the size of the county. If the company is eligible for the abatement it reduces the state sales and use tax rate to 2%.

The State of Nevada realizes it is competing for your business. No, it is not looking to sell your company’s goods or services, Nevada wants you to move your business here, grow here and stay here. Unlike other states, Nevada wants to work with your company, not against it. Governor Brian Sandoval has made it very clear that his goal is to develop the State’s economy and that Nevada is “open for business.” Our business friendly mentality is demonstrated by our tax structure:

• No Corporate Income Tax

• No Personal income Tax

• No Inventory Tax

• No Unitary Tax

• No Estate or Gift Tax

• No Inheritance Tax

• No Special Intangible Tax


PERSONAL PROPERTY TAX ABATEMENT – The personal property tax abatement can be up to 50% of the taxes due for up to 10 years on eligible goods. Eligible goods are capital good which an allowance for depreciation is authorized pursuant to the US Internal Revenue code and directly creates jobs as a result of the use of the capital goods by the purchaser. Like the Sales and Use tax abatement the company must meet two of three requirements to be considered eligible for the reduction. The requirements which must be met are the same. To be considered, a company must apply for the abatement not more than one year before the business begins to develop for expansion or relocation.

Modified Business Tax Abatement – The modified business tax abatement allows for up to a 50% reduction on the state tax for the first 4 years operation. It reduces the 1.17% tax on wages per quarter by 50%. In order to qualify for the abatement the company must meet two of the three requirements set forth in the state law.

TRAINING INCENTIVES

TRAIN EMPLOYEES NOW – the train employees now program is designed to get new and expanding

companies up to production levels quickly. The program assists employers with the screening process, helps employers develop training objectives and goals, and it allows for the reimbursement of 75% of direct training costs up to $1,000 per employee. To qualify for the program employers must meet several requirements. Businesses must hire

at least 10 trainees to participate and pay at wages 80% of the state average wage. The company must also provide health insurance with an option to cover dependents. The training program must meet several strict requirements as well.

JOB CONNECT AND SILVER STATE WORKS – Job connect is a program that offers no cost customized recruitment and staffing to meet your human capital needs. The program offers access to the largest pool of available workers in the state. The

program also offers several other benefits designed to make the hiring

process as easy as possible. When employees are hired through job connect the company may be eligible for the Silver State Works program which offers training and retention incentives. These incentives are as high as $2,000 per employee.

These incentives are just some of the great things that Nevada has

to offer. Aside from the favorable tax structure and incredible incentives,

Nevada has an amazing quality of life. To learn more about what Nevada can do for your company and how the Northern Nevada Development Authority can help visit nnda.org or call us at (775) 883-4413. We would be happy to answer any questions you may have and discuss more options for your business.

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Under Rob Hooper’s leadership the Northern Nevada Development Authority has developed a uniquely Nevada model for promoting the economic renewal of the Sierra Region of Nevada. Rob refers to this as having a “Nevadatude” and that brand fits well with the independent nature, values and tenacity we espouse here in rural Nevada.

As with many other Economic Development organizations: citizens, business people, community organizations and corporations are encouraged to become investors. These investors pay a membership fee for the privilege of association with their local redevelopment authority. Members are given the opportunity to network with others involved in the organization and have a portal to the latest economic developments. While the NNDA shares some of these features with other redevelopment agencies the similarity ends there. The NNDA welcomes investor involvement and does not limit participation to NNDA organized events only. Their model for investor participation extends to the personal involvement of members towards making our community a better, and more prosperous, place to live. The whole goal of the organization is to retain and recruit quality businesses and to lay a foundation of support which attracts and nurtures responsible economic development. Who is better suited to participate in that goal than the civic leaders, business owners and citizens who live here and whose children may one day be employed by some of the very businesses we recruit and support?

As for the comparison with “Connections” it is the personal and professional network which we all tap into which empowers this concept. For a business to be able to offer their community quality jobs, utilize local vendors and contribute to civic betterment they require the support of the community. The NNDA’s role in supporting them is to offer a network of resources that are available to assist them when they experience growth issues such as regulatory concerns, workforce development needs or require the assistance of local government. The NNDA, through their investor participation model, offers this resource to local governments and to the business community. What is truly unique is that the assistance comes from investor members who live in the community and who are vested in the success of the region as a whole.

The NNDA investor pool is a diverse group of people which consists of engineers, ranchers, bankers, brokers, educators, public officials, utility managers, contractors and many other specialists. They are all here to help our region prosper and work with one another towards the enhancement of the community. What they get out of their NNDA investment is the opportunity to contribute to the betterment of Nevada and the honor of being able to work together with an incredibly creative and diverse group of professionals. Best of all is that an NNDA investor has the satisfaction of knowing that they are contributing to improve the opportunities and quality of life for their children. That is what a “Nevadatude” is all about.

AN INVESTORSVIEWPOINT

By Greg Dye, General Manager, Briggs Electric Inc.

I remember a television show a number of years ago called “Connections” which explored the relationships between seemingly unconnected inventions or events which spawned many of the technologies that we now take for granted. The show highlighted the industriousness of civilization and how the efforts of many contributed towards the betterment of society. That is much the way that our “Nevada Style” economic development model works.


The array of workforce programs can present a challenging puzzle to an organization or individual looking to take advantage of these excellent services. Where to begin? What is available? What will best address my specific need?

NNDA’s Workforce Education Committee is undertaking an ambitious project aimed at answering those questions. To open the project, the committee is planning an event it is dubbing the Workforce Summit. Planning is in the preliminary stages. The Summit will be a vehicle for all workforce training and development providers in the region to come together to gain an understanding of the available workforce services and programs. To ensure the entire Sierra Region is represented, two Workforce Summit sessions are planned for later this summer, one each in Carson City and Fallon. Participants will be able to interact in a facilitated format to build a workforce training and development catalog for the Sierra Region. Additionally, creation of the catalog will make it possible to determine where gaps in workforce services may exist. From that output, the committee will develop an asset map, providing a comprehensive categorized reference.

The asset map will be a key outcome of this process. NNDA will have a new and valuable tool as will others with a stake in the Sierra Region’s workforce. Training and development providers will be able to work together to address the gaps identified as the project progresses.

The committee knows this is not a closed end undertaking. A viable and useful asset map will remain so only if it is maintained. The committee sees that maintenance as an ongoing task, part of its continuing mission.

Committee member Denise Castle of Douglas County Workforce Development expressed the group’s enthusiasm for the project: “We have a clear sense of what is needed and we are pleased to begin the process of bridging the information gap.” The process is underway.

The Sierra Region enjoys the benefit of a wide range of workforce training resources. Many organizations, public and private, are working to develop the workers the region needs to continue its growth and provide stable employment for its residents.

WORKFORCE EDUCATIONCOMMITTEE

IDENTIFYING ASSETS

By David Steiger, Director, Economic Development and Continuing

Education Western Nevada College

(775) 887-9901www.BriggsElectricNV.com

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The area has a wide range of companies that are unique not only to Nevada but the entire United States. One of the interesting companies that many people might not know about is Tahoe Cheese. Located in the heart of Lyon County just outside of Yerington, Tahoe Cheese is as unique as they come. The company specializes in premium artisanal farmstead cheese.

The word farmstead means farm-made and it doesn’t get any more farm-made than the

cheese this company makes. The cheese is made adjacent to the dairy from

which the milk comes. It takes literally seconds for the milk

to go from the cow to the vat making the cheese that Tahoe Cheese makes the freshest in the United States. In fact according to David Green, co-owner of Tahoe Cheese, no other cheese company in the

United States takes milk from the cow and puts it

directly into the vat. Their closed herd of purebred cows

consistently produce the purest USDA Grade A raw milk in America. They are humanely treated, non-confined and live year

round outdoors in the exceptionally fresh, dry Northern Nevada alpine air. Each of the five varieties of cheese are guaranteed to be free from rBST hormones, GMOs, gluten, artificial colors and additives.

David Green, founder and co-owner of Tahoe Cheese, initially started his adventure in the cheese making world in Florida. In desperate need of a steady supply of fresh milk David started a nationwide search for a dairy he could partner with. Northern Nevada Development Authority worked with David to help find that partner, Chad Turner of Turner Dairy. Chad became a co-owner of Tahoe Cheese and provided the critical access to fresh milk. According to David Green “If it weren’t for NNDA we would not have moved our company to Nevada and be enjoying the successes that we are.” Mr. Green specifically chose Nevada because Turner Dairy is one of the few independently owned and operated dairies on the west coast, most other dairy farms are corporately owned. This allowed the company to locate their cheese plant at the dairy and produce their unique product. The low costs of doing business in Nevada also helped with the decision to move.

Currently the operation at Tahoe Cheese is a pilot program. The company aims to expand and begin exporting to Asia.

STORIES OF SUCCESS:TAHOE CHEESE

By Andrew Haskin, Marketing

Communications, Northern Nevada

Development Authority

One of the best things about northern Nevada is the diversity within the business community. Most people would be surprised by the businesses that call the Sierra Region home.


During the first quarter of 2014, we have poured over 4,500 ounces of gold and almost 50,000 ounces of silver, as compared to 2,261 ounces of gold and 15,599 ounces of silver in the first quarter of 2013, an increase of 100% for gold ounces produced and over 215% for silver ounces produced when compared to the comparable quarter in 2013. Comstock mined approximately 950,000 tons of material (mineralized material and waste) as it continued transitioning into higher-grade segments of the mine plan while expeditiously moving through some higher stripping ratios. Total mineralized material delivered to the leach pad was over 205,000 tons and represented some of the highest gold and silver grades crushed to date. The weighted average for the quarter was .024 ounces per ton gold and .345 ounces per ton silver, with March 2014 averaging over .034 ounces of gold per ton and over .50 ounces of silver per ton.

Comstock Mining has continued reducing costs applicable to mining, targeting over $6 million in reductions for 2014, as compared to 2013. We have already realized annual savings of approximately $1 million from reduced staffing in crushing, related maintenance, mining and administrative cost reductions with further opportunities in drilling, blasting, logistics and administration. For example, the Company saved nearly 154,000-kilowatt hours per annum by participating in NV Energy’s Sure Bet Incentive Program. Costs applicable to mining have been reduced over the past five quarters, with first quarter costs of sales, on a cost per ounce basis, at the lowest since inception, at slightly over $1,000 per ounce.

Our production continues its ramp up, with higher-grade material now being delivered and gold and silver pours increasing every week for the past four weeks. Our 2014 goal remains the doubling year over year production ounces and increasing cash flow, while reducing costs and achieving a cash cost applicable to mining of less than $750 per ounce.

Comstock Mining has brought back responsible gold and silver mining and over 120 direct jobs in Storey County, producing Comstock Silver and Gold again since 2012 and this year is looking to be a promising year for our Nevada-based company located near Virginia City.

A PROMISING YEAR FOR

COMSTOCK MINING

We have also announced the appointment of Harold “Hal” Galbraith as Director of Mining effective March 24, 2014. Mr. Galbraith brings over 30 years of experience in open pit gold, silver and copper operations, as well as surface coal mining operations, maintenance systems, technical services and industrial engineering support. He has held a variety of positions including, but not limited to, Mine Manager, Sr. Production Engineer, Senior Mining Engineer, Senior Projects Engineer as well as Long and Short Range Mine Planner. Mr. Galbraith holds a Bachelor of Science in Mining Engineering from the Pennsylvania State University.

We are pleased to have Hal’s experience and cost-focused management on our Comstock team. We have not ever had better confidence and visibility with our forward mine plan. Sustained higher grades combined with lower strip ratios expected in the second half of this year, supports our overall 2014 business objectives.

By Corrado De Gasperis, President & CEO, Comstock Mining

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One of the first things a company needs when moving to the Sierra Region is suitable, affordable, high quality space in which to operate. That is where NNDA’s Commercial Real Estate committee comes in. The committee works in a cooperative fashion to ensure that clients receive the best possible outcome for their particular situation. Members work deals on a rotation basis and conduct out of market sales as well. They also bring demand to the region through cluster development. The Commercial Real Estate committee is a cornerstone of NNDA’s economic development success.

By Roger Diez

Andie Wilson

BradBonkowski

ChadCoons

DanOster

BruceRobertson

Greg Shutt

JohnUhart

Jack Brower

SamuelDouglas

BrianArmon

TomMiller

Bill Miles

NNDA’S: COMMERCIAL REAL

ESTATE TEAM


Jack Brower

BrianArmon

Bill Miles

Andie Wilson, Principal, NAI Alliance in Carson City. Andie co-chairs NNDA’s Commercial Real Estate committee. Formerly with Coldwell Banker, Andie and her partner Brad recently affiliated with NAI Alliance in order to better serve Carson City and the surrounding area. Andie is a recognized expert in industrial sales, leasing, and multi-family developments. She has been one of the top producing agents in the office for over fifteen years, and holds the CCIM (Certified Commercial Investment Member) designation.

Brad Bonkowski, Principal, NAI Alliance in Carson City. Brad has extensive experience in commercial and residential land purchase and devel-opment. He is the only member of the Sierra Nevada Association of Realtors to receive the coveted Realtor of the Year award twice, in 2002 and 2007. Brad also holds the CCIM designation, and has been active on numerous real estate com-mittees both as a member and officer. In addition, he currently serves as Carson City Supervisor, Ward 2.

Chad Coons, Principal, Gillmor Coons Real Estate Group. Chad is a co-chair of the committee, based in historic Genoa in the Carson Valley. A UNR alumnus practicing real estate since 2001, Chad holds the CCIM designation and is a broker in both Nevada and California. He specializes in commercial property in northern Nevada and South Lake Tahoe and works with wife Gina to provide clients with everything from horse property to industrial development.

Dan Oster, NAI Alliance in Reno is the Senior Vice President/Principal and Industrial Specialist in the Reno office. Dan has been in the commercial real estate field specializing in the sale and leasing of industrial properties since 2004. Dan is a graduate of the University of Nevada, Reno with Bachelor of Science in Management, a Masters in Business Administration, and is currently an Adjunct Professor in the Graduate School of Business there. He teaches an advanced seminar in Supply Chain Management.

Bruce Robertson, Senior Advisor at Sperry Van Ness in Carson City, has over 14 years of brokerage experience. Bruce has successfully completed over 500 commercial real transactions in industrial property, land, retail, office, and multi-family projects. He holds a Certified Commercial Investment member (CCIM) designation, and has qualified for the Sperry Van Ness Partners Circle and Achiever Awards four times since 2007.

Greg Shutt of Avison Young in Reno has been in industrial real estate since 1998, and has leased millions of square feet of warehousing, manufacturing, and distribution facilities in northern Nevada. Greg is a member of the Society of Industrial & Office Realtors (SIOR), a LEED Accredited Professional, and a CCIM candidate. He has been with Avison Young since 2012, and is recognized for his expertise in both the local market and his clients’ industries.

John Uhart is the owner of Uhart Commercial Real Estate Services. He is a native northern Nevadan, and has been a Nevada real estate broker for over 35 years. John has held CCIM designation since 1995, and was active pres-ident of the Northern Nevada CCIM chapter in 1997. Working in the industrial, land, office, retail, medical, and multifamily markets, Uhart Commercial special-izes in sales, leasing, asset management, and property management.

Samuel Douglas, with Uhart Commercial Real Estate Services, has held a Nevada real estate license since 2007. He is a fourth generation Nevadan and proud graduate of the University of Nevada, Reno with a Bachelor of Science in Business Administration. In addition to NNDA’s Commercial Real Estate Committee, he is a member of the Sierra Nevada Association of Realtors and the Northern Nevada CCIM chapter.

Tom Miller is the president of Miller Industrial Properties. The compa-ny celebrated 21 years in business In April 2014. With a Bachelor of Science de-gree in Civil Engineering from Syracuse University, Miller switched careers from construction to commercial real estate in 1993 to start his own firm. He became a Certified Property Manager in 2008 and received his CCIM designation in 2013. Miller has brokered hundreds of industrial transaction in northern Nevada, including land, properties, and build to suit

Jack Brower, senior advisor for Sperry Van Ness in northern Nevada, has extensive experience in industrial, retail, and office properties. A former restaurant owner, Brower has worked with nationally known restaurant clients. Brower is a Certified Commercial Investment Member designee and has received the Sperry Van Ness Achiever’s award four times, 2004 through 2007. A broker since 1998 with a sales volume of over $100 million, Brower has been with Sperry Van Ness since 2003.

Brian Armon is Managing Partner of the Cushman & Wake-field|Commerce office in Reno. He was previously a Principal with Trinity Commercial, working with national corporations and individual investors on leasing, acquisition, and disposition of real estate assets. Armon holds a Bachelor of Science degree in Business Administration from the University of Nevada, and is a designated Certified Commercial Investment Member (CCIM) and member of the Society of Industrial and Office Realtors (SIOR).

Bill Miles is the owner of Miles Construction and has been with the company since its founding 1986. Miles holds a Nevada General Contractor’s License, Class B – Unlimited, and a Nevada General Engineering License, Class A. He has managed a wide variety of projects, including large and small industrial buildings, government buildings, mining facilities, office buildings, warehouses, and tenant improvement projects. Miles sits on numerous boards and associations relating to economic development and building trades.

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“Those who hope in the Lord will renew their strength.They will soar on wings like eagles.” Isaiah 40:31


The “Margins Tax” A TROJAN-HORSE

VIRUS FOR OUR ECONMY

This fact was demonstrated recently in Lyon County at a commissioner budget meeting, when the County Manager, Jeff Page, announced that the county was once again in the black. This is tremendous news. After years of being the worst hit county in the nation, Lyon is regaining its momentum.

This is further true throughout the region. We are seeing businesses expand, new businesses arrive, houses being built, incomes going up… The economy is coming back and it bodes well for all Nevadans. However, before we get too giddy and order the hors d’oeuvres for the celebration party; STOP, LOOK and LISTEN! Nevada is on the precipice of a major pit fall. An onerous and horrible nemesis that could derail our entire recovery and hurt every family. This is the Margins Tax. Shortly stated; a very bad tax for Nevada.

For those not acquainted with the Margins Tax Initiative, I recommend you spend a few moments to educate yourself and those around you. Our mutual futures may be dependent on it. You can get great information on it at a web site that was put up by a group of businesses, chambers and a diverse group of organizations that

have looked at this tax and have chosen to fight it. This organization is called “NO on 3: Coalition to Defeat the Margin Tax Initiative”. Their web site address is: www.stopthemargintax.com

The margins tax will appear as a ballot issue this November. It is a tax that will impact businesses large and small. It will try to be sold to you by its supporters as a way to better fund education, however, this could not be farther from the truth providing it the “Trojan Horse Virus” approach. When Nevadans go to the polls to vote they could be fooled into voting for something that is billed to help our education system but in reality will not help education but it will shut down businesses, slow growth and in a cyclic connectivity hurt education.

The Coalition on their web site provides this critical information:

Under the Margin Tax Initiative, every business with total GROSS revenues exceeding $1 million per year would be subject to a new 2% Margin Tax – regardless of whether any of that revenue is actual profit. Overall, it would dump a massive $750 million increase on the costs of

doing business for Nevada employers. That would severely damage our state’s already struggling economy and job market.

Imposing the initiative’s tax on top of the state’s existing Modified Business Tax would create the equivalent of an almost 15% state corporate income tax – nearly twice as high as the corporate income tax rate in California.

In fact, for businesses, the Margin Tax Initiative would make Nevada one of the highest taxed states in which to operate. This would severely damage our state’s struggling economy, cause the loss of thousands of existing jobs and make it nearly impossible to attract new businesses and jobs to Nevada.

And worse yet… there is no guarantee of more money for education. We all want to help our schools, but the Margin Tax Initiative does nothing to guarantee more money for education.

Technically, the dollars generated from the measure would be put into the “Distributive School Account,” which is used to fund K-12 education. However, under the initiative, the state legislature could simultaneously take

By Rob Hooper, Executive Director, Northern Nevada Development Authority

The past year has shown many signs of an accelerating economy in Nevada. After many hard years of struggling, families, businesses and our local and state governments, are starting to see good things happen.


money from the regular budget away from education to fund other things. The District Court held in October 2012 that “the initiative does not prevent the Legislature from supplanting existing educational funds with the margin tax.”

The Margins Tax would threaten Jobs. Nevada’s unemployment rate is still one of the highest in the nation and the Margin Tax Initiative would only make it worse. Large employers like gaming companies, banks, hospitals, and manufacturing companies would be forced to lay off workers, and many small businesses would be forced to downsize or close altogether. This would damage Nevada’s economy and drive unemployment even higher.

Do you want to pay more for your goods? The margins tax would create increases in consumer costs. The Margin Tax Initiative would impose a new 2% tax on revenues generated by almost all types of goods and services sold in Nevada, including: food, clothing and other retail store products; gas, electricity and telephone services; prescription medicines sold by pharmacies; and, medical care provided by doctors and hospitals. Ultimately, the providers of these goods and services would pass on some or all of their tax increase to Nevada consumers.

The bottom line is that this is a bad, bad; let me say again, bad tax. Just the discussion of it is hurting our economy as companies considering their move to Nevada are on hold to see if we are really going to have it.

My appeal to you is simple. Get informed, understand the pending danger, warn all that you know to do the same and then Vote NO on 3 and let’s defeat this tax at the polls.

When Nevadans go to the polls to vote they could be fooled into voting for something that is billed to help our education system but

in reality will not help education but it will shut down businesses, slow growth and in a cyclic connectivity hurt education.

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Adams Hub: INSPIRING ENTREPRENEURS &

INNOVATION IN THE COMMUNITYBy Rob Griffin, Executive Director, Adams Hub

The ultimate objective of Adams Hub is to help Carson City become a hub for innovation and entrepreneurship. To achieve this goal the following core services are provided for aspiring entrepreneurs:

STATE-OF-THE-ART INFRASTRUCTURE

Adams Hub 6,500 sq. ft. two-story facility amenities include:

• Receptionist Mon-Fri, 8AM-5PM

• T1 ultra-high speed fiber connection and Wi-Fi

• Wi-Fi rooftop work patio

• Full-service business center – copier, scanner, fax, printer

• Secure server infrastructure

• Video surveillance & key card security system

• Conference rooms with large HDTV internet-connected monitors

• Fully-outfitted kitchen & endless supply of coffee

• Mailboxes with large package delivery acceptance

• Shared break-room and secure storage lockers

• Historic vault conference room

• Clerical support services

• For select, qualifying businesses seeking business coaching and mentorship, Adams Hub offers dedicated, furnished offices with dedicated, transferable phone lines.

“Higher. Stronger. Faster.” The Olympic motto for athletes and the mission of Adams Hub for entrepreneurs are one in the same. The Adams Hub is a new initiative of the Hop & Mae Adams Foundation and is located in the heart of downtown Carson City at 111 West Proctor Street. As a full-service business incubator, Adams Hub offers an inspired workspace for entrepreneurial knowledge sharing, networking, and collaboration to help launch, grow and accelerate the success of start-up businesses. Inside the state-of-the-art facility, Adams Hub offers both private offices as well as co-working space for local entrepreneurs.


EDUCATIONAL, MENTORING & START-UP RESOURCES

To cultivate an entrepreneurial culture in the community, Adams Hub hosts educational events and workshops, entrepreneurial speaker series, brown-bag lunches with successful business executives, and start-up networking and mixer events. Future activities designed to inspire local entrepreneurs to think bigger and drive innovation, will include hackathons, idea launch weekends, business plan competitions, acceleration programs and more.

Adams Hub incubator program is designed for entrepreneurs with a scalable, innovative or technology business concept, as these businesses typically create high-paying jobs as they grow. Start-ups that meet the selection criteria and are approved by Adams Hub Selection Advisory Board will also receive access to Adam Hub’s knowledge network of one-on-one business coaching and consulting, in addition to dedicated offices. Adams Hub’s mentor network of successful entrepreneurs, senior executives, and angel-investors also assist incubator clients in achieving their milestones. Mentors provide advice, act as a sounding board, and provide the guidance that a start-up needs at each critical stage of their growth.

Adams Hub also offers a network of service providers that are critical to a start-up’s needs. We know entrepreneurs are short on time so Adams Hub has vetted and selected a network of providers that are available for support and consultation.

Finally, Adams Hub assists entrepreneurs in accessing capital at each stage of their start-up. Financial assistance includes helping entrepreneurs apply for loans, access angel investors, navigate and apply for state and federal grants, create crowd-funding campaigns, and for a few, select clients, Adams Hub provides up to $25,000 for incubator program clients to help get their business launched.

CO-WORKING SPACE

Coffee shops are crowded and distracting. Executive suites are lonely. And an entrepreneur’s house is not inspiring. Adams Hub’s co-working space is the ultimate collaborative work environment full of entrepreneurs, energy, and serendipitous networking. From freelance designers, to programmers, and visionaries, members pay a monthly member fee to make Adams Hub their business home.

Adams Hub’s mission is to help inspire entrepreneurs with big ideas and support them in turning their dreams into reality. “Entrepreneurs building innovative start-ups are the launching pad for a vibrant economy and community. Adams Hub will grow this entrepreneurial culture to inspire entrepreneurs to dream bigger, innovate higher and grow faster”, says Steve Neighbors, Trustee of the Hop & Mae Adams Foundation.

For more information, or to schedule a tour, visit the website, www.AdamsHub.com, or call 775-222-0001 and ask to speak to Adams Hub Executive Director, Rob Griffin.

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22 VIEWPOINT SUMMER/FALL 2014

According to the U.S. Department of Housing and Urban Development; nationally building permits are up by 11.2% this year, compared to March of 2013. New housing starts are steadily increasing by 2.8% per month; the highest since 2008.

These are wonderful indicators for the building industry, and are ringing true in Northern Nevada as well. Carson City has seen an increase in new single family residential permits by 1.57%, Douglas County has increased by 1.77%, Washoe County saw an increase of 1.04% and the largest increase was realized in Lyon County with a 2.13% increase.

We are beginning to see the rental vacancy rate dwindle, causing a broad demand in housing; thus the need to employ workers again. Construction related payroll has increase 3.5% since the first quarter of 2013, although nationally the industry has only recovered 14.2% of the workforce. This shows some reservation in the housing sector. As employment sectors improve the job situation for “millennials”, interest rates remain low and everyone adjusts to new lending standards; construction is in the forefront for a steady rebound. This has created the perfect climate to build now and get the best value for your dollar. It appears that all signs point to a steady rise in construction throughout 2014; the numbers show a hopeful horizon.

HOPE IN THE

NUMBERS

By Builders Association of Western Nevada

As we continue our accent out of the “great recession” the construction industry is seeing hope in the numbers. Slowly we are hiring back our labor force and collecting projects along the way.

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NV Lic.: #0023686ACA Lic.: #899189







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22 VIEWPOINT SUMMER/FALL 2014

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