2024 Election Guide
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“Nevada continues to lead the nation in economic development, and I’m proud to welcome five new international companies to our state,” said Governor Joe Lombardo. “Our low cost of doing business, favorable regulatory environment, and robust litigation ecosystem make us a top destination for companies seeking expansion in the United States, and we’re excited to continue diversifying our economy with international partners.”
Five international companies announced business development in Nevada this week in key strategic sectors, including battery technology, sustainable mining and research services, and other energy-efficient manufacturing. The companies’ visions align with our five-year economic development strategy to realize Nevada’s electric, innovative and connected future. The five companies include:
Capital Limited - Capital Mining Services, a global entity with headquarters in the UK offering comprehensive drilling and mining services across more than 30 locations worldwide, has chosen to establish its presence in the United States under the banner of Capital USA in Elko, Nev. The Elko facility will comprise geochemical analysis and mine drilling operations. The entry to the US is with Barrick/Nevada Gold Mines, but Capital and MSALABS will be expanding beyond the initial contracts with Barrick/ NGM in late 2024 (lab assays) and 2025 (mineral exploration). Northeastern Nevada Regional Development Authority (NNRDA) worked extensively with Capital Limited to facilitate the company’s move to Nevada.
PCM RailOne Ag - PCM RailOne Ag is a global company with headquarters in Germany. They are a qualified partner for concrete ties and track systems and have been closely associated with the railway industry for over 100 years, as well as a leader for more than 70 years in development of high-quality concrete track and turnout ties. PCM RailOne Ag is planning a $20 million investment into North Las Vegas, Nev., which will provide a precast concrete railway tie-producing unit for the Brightline West High Speed Rail Project. Their investment will initially produce an estimated 50 jobs and is scheduled to begin commercial operations in Q1 2026.
Urban Mobility Systems - Urban Mobility Systems B.V. is a cleantech engineering company from the Netherlands that provides zero-emission construction equipment and mobility solutions. Urban Mobility Systems develops and manufactures battery electric and hybrid fuel cell drive trains to replace the diesel engine traditionally used in heavy-duty on- and off-road vehicles. Their entry into Nevada is slated to create between 280-350 direct jobs and 100-150 indirect jobs. Focused on series production for OEM customers, Urban Mobility Systems supports leading manufacturers and importers with zero-emission motive power and educational solutions. The modular electrification system developed by Urban Mobility Systems won the 2022 CES Innovation Award in the Smart Energy product category.
FTE Drilling - FTE Drilling is a service provider from Quebec, Canada and a key win from Canada Trade Mission where the company met with Governor Lombardo in Montreal. Following a series of successful drilling projects across the U.S., FTE Drilling is pleased to announce the establishment of its U.S. headquarters in Winnemucca, Nev. FTE chose Nevada for its vibrant mining industry, abundant business opportunities, and favorable tax advantages and legislation. The decision to invest in Winnemucca was greatly supported by the Humboldt Development Authority and the Nevada 95-80 Regional Development Authority.
Noovo - Noovo is a French company specializing in creating tiny houses on wheels, designed for comfort and safety while experiencing the outdoors. Based in Nevada, Noovo converts vans into mobile offices and homes. Noovo is in the middle of an expansion of its manufacturing facility, moving from a 6,000 square-foot facility in Las Vegas to a 20,000 square-foot facility. The company plans to hire an additional 100 employees within the next two years. Noovo adds unique value to the recreational and alternative housing market in Southern Nevada and across the country. Its expansion efforts are a testament to Nevada’s focus on making the Silver State a great place to sustainably build and grow businesses.
Background:
• This week, Governor Lombardo led the Nevada delegation at the 2024 Select USA Investment Summit in National Harbor, Maryland (just outside of Washington, D.C.). Governor Lombardo attended the conference to help recruit new international investment into Nevada to further his economic development and diversification goals.
• The delegation included local and regional economic development officers, in addition to Director Tom Burns of the Governor’s Office of Economic Development, Director Dwayne McClinton of the Governor’s Office of Energy, and Director J.J. Goicoechea of the Nevada Department of Agriculture.
• At the conference, Governor Lombardo announced that five new international companies would make significant investments into Nevada, creating hundreds of good-paying jobs in mining and drilling, battery materials, manufacturing, and transportation.
• B-roll and pictures can be found here.