During our business trips visiting customers and factories, many times we are asked, why Reno? Well, the secret seems to be out. Northern Nevada has become a popular place to expand or relocate a business. From large to small, many companies are seeing they can take advantage of what the State of Nevada has to offer. With a central location in the western US, tax advantages, recreational activities, and affordable living costs it is a wonder why it took so long.
Location
Whether by air, rail, or highway your products are easily transported wherever they need to go. The area boasts less than one 1-day truck service to more than 60 million customers, 8 states, 5 major ports and 2-day truck service to 11 states. The area has found itself attractive to companies seeking west coast warehousing and distribution hubs along with manufacturing facilities and data centers. Some of those that have come to the area are Amazon, Apple, RackSpace, Switch, Tesla/Panasonic Gigafactory, Zappos, and Zulily to name a few.
Tax Advantages
Nevada has no corporate or personal income tax, and no inventory or franchise tax. Many businesses that qualify with the State of Nevada’s criteria are also able to take advantage of other special tax abatement and deferral programs. For those interested in these incentives, a great place to start is www.diversifynevada.com, Nevada Governor’s Office of Economic Development. There you can learn all about what makes Nevada a great place to be in business.
Recreation
For the outdoor enthusiast, you can’t ask for a better location. Hiking, hunting, fishing, skiing, golfing, the recreational activities abound. At 191 square miles, Lake Tahoe is the largest alpine lake in North America and is a short 30-minute drive from Reno. Tahoe is home to 18 ski resorts, 14 golf courses, and all kinds of water sports. What a way to relax after putting in the hours at work.
Cost of Living
We enjoy many of the special events that go on in the area and supporting the local sports teams. It is certainly not a replacement for the Bay Area by any stretch of the imagination, but it doesn’t have the traffic or the ridiculously high cost of living either. As an example, in our office the longest commute is 30-minutes, and that is considered long for the area. By any search on the internet, the cost of living is roughly 1/3rd the cost of the Bay Area. According to www.bestplaces.net, the median house price in Reno is $355,100 vs. San Jose at $1,083,000.
Summitech has found success operating out of Reno for the past 20 years. The business and tax friendly area has allowed us to service our customers and factories at a much lower cost than if we were located elsewhere. If you are interested in doing business in Nevada or have any questions on loans, financing, etc., https://lendedu.com/blog/small-business-financing-in-nevada/ is a great website with a lot of helpful information.
Check out www.summitech.com to stay up to date on which factories we are working with and the products we offer.
