Sephora to greenlight Las Vegas distribution center after US$3.12 million in tax incentives signed off?

Sephora to greenlight Las Vegas distribution center after US$3.12 million in tax incentives signed off?

Sephora is considering the construction of a new 715,000 square foot regional distribution center in Southern Nevada. The proposed project will ship products to stores and customers located in 11 western states. The company requested US$3.12 million in abatements, including US$2.25 million in sales taxes, US$688,013 for personal property taxes and US$190,695 in modified business taxes.

The LVMH-owned specialty retailer was one of nine companies to receive approval for state incentives by the Nevada Governor’s Office of Economic Development (GOED) last Thursday. Others include CVS and KRS Global Biotechnology.  

“The Las Vegas Global Economic Alliance (LGVEA) and our partners in economic development are proud to announce the expansion of these nine companies – the largest number of projects our organization has ever presented in a single GOED board meeting,” said LVGEA Chief Operating Officer Jared Smith in a statement. “Nevada’s pro-business climate, ready workforce, and strategic location encourages the growth of these dynamic companies choosing our region and strengthens our economy.”

Sephora’s new center is projected to create 460 new jobs in the state over the next five years. If the perfumery chain rubber stamps the project, construction is expected to start in August.

Leave a reply

Your email address will not be published. Required fields are marked *