presentation to the joint senate revenue & economic

Presentation to the Joint Senate Revenue & Economic Development & Assembly Taxation Committees

February 23, 2017

Faraday Future

page 1

Faraday Future – Trust Fund

page 2

TRUST FUND NON TRUST FUND

Clark County Taxation GOED Taxation

Year Month TOTAL PPT RPT SUT Catalyst Fund MBT

16

17

Jan

Feb

Mar

Apr

May

Jun 669

Jul 2,100 2,100

Aug 77,923 47,742 30,180

Sep 72,128 72,127 1,591

Oct 152,527 47,742 104,784

Nov 88,727 88,726

Dec

Subtotal $393,405 - $95,485 $297,921 - $2,261

Jan

Feb 2,260

Subtotal - - - - - $2,261

TOTAL $393,405 - $95,485 $297,921 - $4,522

Faraday Future

page 3

FF: Multi-staged Manufacturing Project

page 4

Tesla Gigafactory

page 5

Status

- Nearly 1,000 permanent employees- More than 90% Nevada residents

- Projected to be more than 3,000 by March 2018

- Over $1 Billion invested

- Investment projected to be $2.5 Billion by March 2019

- Approximately 2,500 construction workers on-site- Approximately 60% Nevadans

page 6

Drivetrain Factory

Manufacturing electric motors and drivetrain for Model 3

Additional $350 million investment

550 new jobs

page 7

The Convention Center Expansion

The Convention Center Expansion

Economic Summary

Annual Economic Impact (Output) $810 Million

Annual Incremental Visitors 610,000

Annual Incremental Room Nights 1,130,000

Construction Employment 13,800

Permanent Jobs (Incremental) 7,850

Avg. Annual Wage of New Jobs $39,000

Fiscal (Revenue) Summary

State General Fund Revenue $14.6 Million

Local Government Revenue $34.6 Million

Total Fiscal (Revenue) Impacts $49.2 Million

Education Funding (State & Local) $19.0 Million

The Stadium

The Stadium

Economic Summary

Annual Economic Impact (Output) $620 Million

Annual Incremental Visitors 450,000

Annual Incremental Room Nights 708,400

Construction Employment 18,711

Permanent Jobs (Incremental) 5,982

Avg. Annual Wage of New Jobs $38,500

Fiscal (Revenue) Summary

State General Fund Revenue $12.5 Million

Local Government Revenue $22.5 Million

Total Fiscal (Revenue) Impacts $35.0 Million

Education Funding (State & Local) $13.4 Million

Knowledge Fund

page 12

DRI Applied Innovation Center for Advanced Analytics $4,260,000

DRI Water Center of Excellence $2,470,000

DRI Cloud Seeding $750,000

DRI Unmanned Aerial Systems for Agricultural Applications $152,000

UNLV Institute for Personalized Medicine $3,250,000

UNLV International Gaming Institute $2,090,000

UNLV Nevada Center for Advanced Mobility $517,000

UNR Advanced Autonomous Systems Innovation Center $2,570,000

UNR Nevada Center for Applied Research $3,100,000

All 4 Unmanned Aerial Systems Projects $500,000

TOTAL $19,659,000

Building computational and scientific platforms with:

Skill - Flexibility - Scalability

Commercial Earth Science Addressing Climate Instability.

Overhead.

Underfoot.

At Eye Level.

Developing natural antifungal / antimicrobial chemicalscorrecting soil disease, rehabilitating agricultural lands.

Specialized forecasts for frost, agro-pests,crop yield, renewable energy.

World-class forecasts. Partners:Weather Forecasting

Environmental ConsultingAgrochemical

Energy/UtilitiesCommodities Trading

Farming

Institute for Health InnovationImprove the health outcomes of all Nevadans through data driven operational changes in healthcare delivery and health education

• New jobs in healthcare, medicine and analytics• New medical care expertise• Investments in health infrastructure• Healthcare intellectual property• New business development in pharma and

medical device technology

• Work with the largest utilities, water consumers and employers in Nevada• Define market demand to recruit innovative solutions globally to State• Facilitated projects with faculty and students from DRI, UNR, and UNLV• Funded $450,000 in pilots with $650,000 in matching funds from partners• Raised another $300,000 in memberships and service contracts• Signed agreement with Israeli Innovation Authority to co-fund additional projects

Our Approach

• Received proposals from over 150 tech companies• 11 commitments from companies to establish Nevada offices• 91 projected new jobs over the next 2-3 years

International Gaming Institute

page 20

The Vision

“UNLV will work with my Office of Economic Development to establish the university as the global

intellectual hub for gaming.”

Nevada Governor Brian Sandoval, 2013 State of the State

• 39 patents filed

• 6 IP options sold

• $1.4 million industry support

The Execution

GENOMIC MEDICINE IS POISED TO TRANSFORM HEALTHCARE GLOBALLY BY 2020 – GENETIC TESTS ARE HERE TO STAY

LAS VEGAS HAS SEVERAL SPECIAL COMPETITIVE ADVANTAGES FOR BECOMING A GLOBAL LEADER IN GENOMIC HEALTHCARE

IN 2016, UNLV ACCELERATED THIS PROCESS VIA FOCUSED GENE TESTING PROGRAMS – INCLUDING AN ACTIVE GENOMICS CLINIC AND A SPINOFF PHARMA VENTURE

page 22

Nevada Institute for Personalized Medicine

CURRENT NIPM FOCUS AREAS

1. Connective Tissue Genomics (Athletes, Performers ORTHOPEDICS)

2. Executive Health Genomic Services (Profitable Niche BROADER SERVICES)

Both are ‘stealth’ focus areas that NIPM can handle - but lead to Large Markets; arthritis affects half the population, and Private MDs growing 25%/y

NIPM will launch a Las Vegas Genomics Initiative in 2017-2018 with the LV community, and generate investment/income from GOED funded patents

page 23

Nevada Institute for Personalized Medicine

Nevada Center for Advanced Mobility

“Nevada Center for Advanced Mobility creates advanced mobility opportunities for visitors, residents and industry.”

• The initial period (end 30 June 2017) is experimental in nature and designed to validate the potential for

an ongoing project. The result is a refocus on the needs of transportation agencies (solving problems) in

Nevada while providing opportunities for industry (economic development).

Example projects:

• Partnership with GENIVI Alliance , with members such as Jaguar Landrover, Volvo, and Harman, to bring

advanced connected vehicle technology to Las Vegas to help increase awareness for pedestrian safety

and improve traffic flow.

• Mobility Challenge – Pedestrian Safety, 40+ technology solutions received resulting a 1-2 pilot projects

in early 2017.

page 24

Nevada CAM

Short Term

• Draft Proposal to Knowledge Fund for next biennium

• Team Building (currently only 1 employee)

Focus Areas

• Mobility Challenges – 1 to 1 solutions to local mobility challenges

• Consortia Projects – multiple providers collaborating on industry wide challenges

• GENIVI Alliance

• Community as a Service (Open City Data development environment)

• Fraunhofer Institute partnership - TBA

page 25

To be competitive, states must: Critical Partnerships:

Enable Innovation Institutions of higher education

Capture the talent pipeline Business Community

Improve the business climate Public sector

The Knowledge Fund has been a game-changer for facilitating these partnerships.

UNR is creating innovative models for leveraging Knowledge Fund dollars to:

Establish state of the art laboratories.

Recruit top-notch faculty expertise.

Make university resources and expertise available to businesses and entrepreneurs (including entrepreneurial faculty) at nominal cost.

Development, application,& commercialization of autonomous systems

2 Company Relocations: Flirtey; Alaska UAV

3 Pending Relocations: SmartPlanes, Sweden (in May 2017); VX Aerospace,

NC; Ausley Assoc., MD

Flirtey raised $16M in seed funding

GSE, Inc. secured $3.9M contract for developing and testing multi-use UAV engines

207 flights as PIC•Additional 255 flights in support role•Trained 83 Visual Observers

Hosted the first ever UAV Search and Rescue Symposium in the United States

Generated $1.55 M in grant funding

Crowd-aided Cooperative UAV Surveillance

UAS Inspection & Characterization of Nuclear Sites

Providing world-class facilities for use by “New Nevada” companies and startups

• Robotics & Evolutionary Computing

• High-Energy-Density and Material Characterization

• High Performance Computing Facility

• Scanning Electron Microscopy

• Mechanical Engineering & Earthquake Simulation

• Biotechnology & Molecular Medicine• Biosciences Entrepreneurial Laboratory (BEL)

Fee-for-Service Agreements: $397,000 since February 2016

Grants and contracts: $2.3 million

Donations: $1.7 million for state-of-the-art R&D facilities

Established $100,000 InNEVenture Fund for proof-of-concept and seed-funding

Intelligent Mobility Initiative with Fraunhofer, IVI; RTC; Proterra, Inc.; and others

4 UNR spin-outs & 3 start-ups; Advanced-stage negotiations w/ 3 out-of-state & 1 in-state start-up

page 30

NCARSome Companies & Entities Using Shared Research Facilities at NCAR

page 31

Learn & Earn Advanced-career Pathways

Learn & Earn Advanced-career Pathways (LEAP)

• Integrates education, government & industry in a standardized process

• THE standard template for career pathway development in Nevada

• Ensures that:

• Workers have the skills they need to succeed short- and long-term in the New Nevada

• Education institutions know what they need to teach

• Companies have a qualified workforce

• Dynamic framework and not a static concept

page 33

• Integrated into Nevada’s $2 million-winning New Skills for Youth Grant(January, 2017)

• Supported in joint resolution of Nevada Board of Regents and Nevada State Board of Education (October, 2016)

• WCSD awarded Workforce Magazine Optimas Silver award for Managing Change, utilizing LEAP (November, 2015)

LEAP - Support & Scale

page 34

LEAP Essentials• Fully integrated – credits transfer from high school to college &

university

• Standardized – qualifications obtained are recognized & applicable across an industry

• CTE foundation – pathways are rooted in statewide CTE standards

• Employer engagement – company participation is an essential component

• Life-long learning – enabled through “on” & “off” ramps

page 35

LEAP Manufacturing Framework (Northern Cluster)Framework resembles “Highway” with “on” and “off” ramps and flexible multiple Pathways

High School/ CTE

- Metalworking

- Welding Technologies

- Associated Certificates

- Manufacturing Technologies Program

All Programs starting in 9th

grade

2nd & 3rd tier Machining

2-Years at

TMCC / WNC

for A.A.S.

Advanced Manufacturing

K – 8+ outreach effort

Advanced Manufacturing TechnicianDiversified Industry Engineer

3-Years at UNR for

B.S.Mechanical Engineering

Transfer 12 – 15 credits

“2 +3”Skills Certificate (SC)

Certificate of Achievement (COA)Transfer

up to 34 credits

OSHA Safety

MSSCProduction Technician

NIMS

AWSWork-based learning

NCRC

NCRC

Dual Credit / Jump Start


Transfer up to 24hrs / 30 credits


SiemensMecha-tronics

OSHA Safety

MSSCProduction Technician

NIMS AWSMSiMT 1

SiemensMechatronics

Accelerated Employment Credential on-ramp:

e.g. P3 program M1 & M2

Variable Transfer credits

Accelerated Employment Credential on-ramp: e.g. P3 program M3* & M4*

* under development


Entry level Position

A D V A N C E D M A N U F A C T U R I N G S K I L L S O B T A I N E D

MSiMT 1

page 36

• Read and interpret blueprints, technical drawings, schematics, or computer-generated reports

• Research, design, evaluate, install, operate, or maintain mechanical products, equipment, systems or processes

• Confer with engineers to implement operating procedures, resolve system malfunctions

• Develop, coordinate, or monitor all aspects of production, including selection of manufacturing methods

• Investigate equipment failures or difficulties to diagnose faulty operation and recommend remedial actions

• Provide feedback to design engineers on customer problems or needs

• Research and analyze customer design proposals, specifications, manuals

• Apply engineering principles or practices to emerging fields: robotics, biomedical Supervision of production workers, technicians, technologists, or other engineers

• Solicit new business • Provide technical customer service • Study industrial processes to maximize the

efficiency of equipment applications• Establish or coordinate the maintenance or

safety procedures

• Employability Skills (work ethic, attendance/punctuality, communication, honest/candor, problem solving, career expectations/promotion)

• Critical Thinking & Problem solving

• Drawing & Reading Prints

• Safety • Pre-Engineering

Measurement• Math Skills (fractions,

decimals, conversion, dimensioning, tolerances, geometry)

• Reading comprehension skills

• Measurements• Attention to Detail• Multiple processes• Manufacturing Processes• Electromechanical basics• Introduction to

Automation• Diagnostic/Troubleshoot

ing

Additional Major Skills Taught• Career Awareness• Engineering

Familiarity• Inspection/Tool

Reading• Material Qualities

(temps, feeds, speeds)

• Injection Molding• Stamping/Piercing

Press• Fabrication Basics• Communication

Skills• Workplace

Expectations• Technical Writing• Basic Statistics

• Entry Level Machinist• Mechanical Assembler• Material Handler• Shipping & Receiving• Quality Control/Inspector• Assembler/Electro-mechanical• Set Up Laborer• Welders Helper• Operator• Packaging Operator• Seamster• Machine Setters, Operators (MT1) job titles per Dream

It Do It Virginia)

• General Assembler (COA)• Line Technician (COA)• General Technician (COA)• Senior Technician (COA+)• Maintenance Technician 1

(COA)• Manufacturing Lead (COA)• Machine Operator (COA)• Manufacturing Technician

1-3 (COA)• Tech Assembly I & II (COA)• Assembler (COA)• Set-up laborer (COA)• Process Specialist (COA)

• Assembler (COA)• Set-up laborer (COA)• CNC Tender (SC)• CNC Operator (SC)• SNC Senior Operator (SC)• CNC Technician (SC)• Panasonic Material Handler (P3

M1)• Panasonic Production Operator

(P3 M2)• Hamilton Comp. Entry level (P3

M1/2)

• Machine Technician• Facilities/ Maintenance Technician• Coordinator/ Lead• Supervisor• Process Lead• Production Worker/ Planner / Lead• Manufacturing Technician• Quality Inspector• Automation Technician• CNC Machine Operator / Machine

Operator• Maintenance Technician / Electrician• Welder

• Mechanical Engineer• Manufacturing Engineer• Production, Operations Manager• Process. Maintenance Engineer• Engineering Manager• Mechanical Design Engineer• Plant Engineer• Product Engineer

• Math• Blueprint Reading• Quality Control• Communications• Basic Measurement • Material Handling• (Practical) Problem Solving• Human Relations• OSHA• (Analytical) Problem Solving• Technical Drawings• Reading Shop Drawings

• Electrical Fluid• Automated Material Handling• Programming• Metallurgy• LEAN

• Math• Blueprint reading• Quality Control• Communications• Basic Measurement • Material Handling• (Practical) Problem Solving• Human Relations• Electrical Fluid• Automated material handling• OSHA• Programming• Metallurgy• LEAN

Matching Skills with Job TitlesIn the 21st Century need to view job titles as an agglomeration of Skills

page 37

High School/ CTE

Manufacturing Programs

All Programs starting in 9th

grade

2nd & 3rd tier Machining

LEAP Manufacturing Framework (Southern Cluster)Framework resembles “Highway” with “on” and “off” ramps and flexible multiple Pathways

2-Years at

CSNfor A.A.S.

Manufacturing Associate

Facilities Maintenance

K – 8+ outreach effort

Technician levelDiversified

Industry Engineer / Management

3-Years at UNLV for

B.S.(Engineering)

under development

Dual enrollment credits “2 +2”

Certificate of Achievement (COA)

NCCER Electrical Level 1

In-House Apprenticeship

NCRCNCRC

Transfer of 31.5 credits

MSiMT 1

NCCER CoreNCRC

MSi MT1(COA embedded)

Entry level Position

M A N U F A C T U R I N G S K I L L S O B T A I N E D

2-Years atNevada State

College for B.A.S.

Management

NCCER Plumbing Level 1

NCCER HVAC Level 1

Work-based learning / Internships (COA embedded)

DETR outreach effort

“2 +3”

CSN Entry level training

Transfer up 15 credits

under development

Transfer of 31.5 credits

LEAP Life Sciences Framework (Northern Cluster)Framework resembles “Highway” with “on” and “off” ramps and flexible multiple Pathways

• Biology • Chemistry • Microbiology • Neuro Science• Agricultural Science• Bio Chemistry & Molecular Bio• Biotechnology • Environmental Science• Nutrition Science• Veterinary Science

• Veterinary Science

2-Years at TMCC

for A.A.S. Vet. Technician

K – 8 outreach effort“Scholars” Program

M.S. /

Ph.D.

at UNR

Med School

Add 1 Year at TMCC for A.S.• Biology• Chemistry• Community Health

Sciences

3-Years at UNR for B.S.

• 9 – 12 CTE College credits

60 credits

2-Year at TMCC

for A.S. transfer degree

• Vet tech –18 credits

• Gen Edu –28 credits

Full-time

Part-time

NCRC

Internships Internships Internships

L I F E S C I E N C E S S K I L L S O B T A I N E D

Full-time

Part-time

2-3 Years at UNR for B.S.

Company Technical Development Program (TDP)

UNR – direct entry (4-5 Years for B.S.)• Biology• Chemistry• Microbiology• Neuro Science

• UNR Med School (BS-MD)

• Ag Science• Bio Technology

• Bio Chemistry & Molecular Bio• Environmental Science • Nutrition Science• Veterinary Science

• Advanced Placement Credits

Health Sciences (Career Cluster) Biomedical*Emergency Medical Tech*Nursing Assistant*Sports Medicine*

Agriculture & Natural Resources (Career Cluster)Food Sciences Tech*Veterinary Science*Animal Sciences*Natural Resource & Wildlife Management** programs highly relevant to Northern Industry Cluster

High School CTE

page 39

• Animal Care Assistant (CRL)• Animal Care Technician I,II,III (CRL)• Research Technician Assistant (CRL)• Research Technician I (CRL)• Necropsy Technician I (CRL)• Histology Technician I (CRL)• Lab Assistant I,II (CRL)• Clinical Pathology Assistant (CRL)• Clinical Pathology Technician I,II (CRL)• Clinical Path. Coordinator (CRL)• Site Clerk (CRL)• LAM Support Technician (CRL)• LAM Technician I,II (CRL)• Cage Sanitation Technician (CRL)• Sample Management Technician I (CRL)• QC Inspector I, II• R&D Lab Tech

• Technical Operations Technician I. – IV (CRL). • Animal Care Technician II, III (CRL)• Research Technician I (CRL)• Necropsy Technician I (CRL)• Histology Technician I (CRL)• Lab Assistant II (CRL)• Clinical Pathology Coordinator (CRL)• Clinical Pathology Technician III (CRL)• Report Writer (CRL)

• Technical Operation Team Leader (CRL)• Research Technician I,II,III (CRL)• Technical Trainer I,II (CRL)• Necropsy Technician I (CRL)• Histology Technician I (CRL)• Histology Coordinator (CRL)• Research Assistant I,II,III (CRL)• Clinical Pathology Coordinator (CRL)• Behavioral Technician I (CRL)• Scientific Coordinator (CRL)• Applications Specialist• Field Applications Specialist• Technical Project Lead• Chemist I, II, III• Microbiologist• Lab Tech I, II, III ; Lab Assistant• QC Inspector I, II, III• R&D Specialist I, II, III• Testing Coordinator• Customs Solutions Engineer• Market Segment Manager• Product Development (incl. Lead)• Product Manager, Product Support • Sales Representative

L I F E S C I E N C E S S K I L L S O B T A I N E D

LEAP Life Sciences Framework (Northern Cluster)In the 21st Century need to view job titles as an agglomeration of skills

page 40

WINN Fund

• Recruitment, assessment & training

• Foundational investments so that Nevadans can get high-skill, high-wage careers in the New Nevada

• New & expanding businesses

• Workforce diversity action plan required

page 42

ENERGIZE YOUR CAREERPANASONIC IS HIRING NOW AT THE GIGAFACTORY

Enroll at TMCC in the PanasonicPreferred Pathway:• Designed for individuals with

no manufacturing experience

• Train at your own pace for a new career in just a few weeks

• Scholarships may be available for qualified individuals

For more information, contact 775-856-5300 or [email protected]

P3 WINN - Phase 1Basic Advanced Manufacturing Curriculum

• Developed and approved with Panasonic & Hamilton Co.

Focus largely on developing Nevada worker pipeline

• 145 M1 Scholarships ($65k)

• 135 M2 Scholarships ($94k)

Materials & personnel ($16k)

page 45

Faraday Future

page 46

FF Curriculum - Phase One• National Center for Construction Education and Research

certified instructors

• Associate of Applied Science Degree and Certificate of Achievement

• 61 credits or 31.5 credits

• Core Requirements:• OSHA Safety First Aid/CPR• Six Sigma Yellow Belt Six Sigma Green Belt• NCCER Core NCCER Electrical• Industrial Controls Programmatic Logic Controllers

• TAACCT Grant

page 47

Phase One In Action with CCSD

page 48

95 students enrolled at SECTA62 SECTA students + 33 Mojave High School StudentsEarning 10 CSN credits towards an associates + OSHA 10 307 students enrolled at SECTA in STEM Robotics

Pre-cursor program leading into manufacturing

Moving Forward 2017-18Proposed Desert Rose/Jeffrey Tech Center partnership to add access and opportunity to students in North LV (400 + students year 1)

Manufacturing classes for 5 North Las Vegas High School Students

Curriculum for direct entry into the Workforce

• Practical Workplace Skills• Reading Prints/Schematics• Tools of the Trade• Troubleshooting• Working as a Team

and much more...

page 49

FF WINN – Phase One

page 50

CAPITAL EXPENSES

Equipment Description Source Per Unit Quantity Total

FY16 Robotic Trainers LabVolt $23,684 4 $94,736

FARO Arms FARO Scanarm $43,500 1 $43,500

Pneumatic Trainers LabVolt $40,000 2 $80,000

Hydraulic Trainers LabVolt $75,000 2 $150,000

FY 16: $368,236

CAPITAL EXPENSE SUBTOTAL $368,236

PERSONNEL EXPENSES

Description Source Quantity Total

FY16 0 $-

PERSONNEL EXPENSE SUBTOTAL $-

MATERIALS & VARIABLE EXPENSES

Description Source Per Unit Quantity Total

FY16 Training Materials: Green Belt Instructor Manual Open Source Six Sigma $35 5 $175

Green Belt Student Workbook Open Source Six Sigma $25 150 $3,750

Green Belt Assessment Open Source Six Sigma $5 150 $750

Yellow Belt Instructor Manual Open Source Six Sigma $25 5 $125

Yellow Belt Student Workbook Open Source Six Sigma $15 150 $2,250

Yellow Belt Assessment Open Source Six Sigma $5 150 $750

Soft Skills Materials: Communication Skills CSN $65 175 $11,375

Time Management CSN $65 175 $11,375

Critical Thinking Skills CSN $65 175 $11,375

Inter-Personal Skills CSN $65 175 $11,375

Teamwork CSN $65 175 $11,375

Managing Conflict CSN $65 175 $11,375

Leadership Skills CSN $65 175 $11,375

Assessments: WorkKeys Assessment ACT $130 175 $22,750

Administrative: Accreditation (Initial) Open Source Six Sigma $20,000 1 $20,000

FY 16: $130,175

MATERIALS & VARIABLE EXPENSE SUBTOTAL $130,175

TOTAL FY 16-FY18: $498,411

Phase One Focus: • Equipment ~$370,000• Curriculum ~$130,000

Training to begin Q2/Q3 2017

WINN Fund EstimatesProject Name

Authorized Provider

FY 2016 FY 2017 FY 18-19 TOTAL

Faraday Future - Phase 1 CSN 500,000 500,000

Faraday Future - Phase 2 CSN 750,000 750,000

Faraday Future - Phase 3 CSN 1,825,000 1,825,000

Panasonic Preferred Pathway – NNVAM Phase 1 TMCC 175,000 175,000

Advanced Manufacturing – NNVAM Phase 2 TMCC/WNC/UNR 825,000 1,750,000 2,575,000

Advanced Manufacturing – Food TBD 700,000 700,000

Advanced ICT – Network Operations TBD 750,000 750,000

Advanced ICT – Cyber Security CSN/UNLV/UNR 250,000 750,000 1,000,000

Industrial Controls & Heavy Equipment GBCC 250,000 500,000 750,000

Life Sciences (Lab Technician) TBD 500,000 500,000

Life Sciences (Home Health) TBD 500,000 500,000

Recruiting (TBD) TBD 1275000 1275000

500,000 2,250,000 8,550,000 11,300,000

WINN FUND REVENUE (Requested: FY18-19)

FY16-17 FY18 FY19 Total

State General Fund - 3,500,000 4,500,000 8,000,000

Catalyst Fund (TTC) 1,500,000 1,500,000

OSIT Transfer (GF) 1,000,000 1,000,000

Governor's Reserve (WIOA) 800,000 800,000

Total 3,300,000 3,500,000 4,500,000 11,300,000

page 51

State Small Business Credit Initiative

Federal funding to help provide loans to small businesses; Invests in startups and other

emerging businesses

Accomplishments

• 14 Nevada businesses, $5,357,922 in Collateral Support

• 8 venture capital investments $3,100,000

page 52

Rural Community Development

Encourages sustainable community and economic development for the benefit of primarily low-to-moderate

income persons and communities; funded primarily with Federal Community Development Block Grant

funds.

Accomplishments

• 19 grants awarded in 16 local jurisdictions totaling $2,512,326

• Local jurisdictions and other funders provided an additional $907,479 in matching funds

• An estimated 37,475 individuals will benefit when these projects are completed

page 54

Procurement Technical Assistance & Emerging Small Business

Provides assistance to Nevada businesses to enable them to identify potential contractual opportunities with

federal and/or state and local governments, government prime contractors, and to obtain or perform under

contracts with these entities.

Accomplishments (FY 15-16)

• More than 2,000 clients, 140 outreach events

• More than 650 government prime contracts worth more than $100 million awarded to

Nevada small businesses

• More than 70 government subcontracts worth more than $16 million awarded to Nevada

small businesses

page 55

presentation to the joint senate revenue & economic

Documents