Excerpt from article originally published in Northern Nevada Business Weekly.
By Kaleb Roedel
RENO, Nev. — Before the coronavirus pandemic pumped the brakes on the U.S. economy, Northern Nevada was on a roll.
Thanks to greater Reno-Sparks’ business-friendly climate, deepening talent pool, and access to a high quality of life, companies from across the country have been flocking to the region like clockwork over the past several years.
Though the growth stalled for a few months because of the COVID crisis, the economic engine is revving back up in Reno-Sparks as the state continues to gradually reopen.
With that in mind, the NNBW is checking in with CEOs of some of the companies that launched here, or migrated to the region, over the years to find out exactly why they chose Northern Nevada, and what opportunities and challenges they have faced since launching in Reno-Sparks.
Q: Why did ITS Logistics decided to establish the company in Northern Nevada?
Scott Pruneau: The first thing is the founders were all born and raised in Northern Nevada, and for their lives and their careers, they wanted to raise their families here. But, the second part of that is they thought there was a large opportunity in a very fragmented industry to grow a company in that region, specifically. Because Reno is really a centrally located western market — you’ve got overnight transit times to all the major metro areas in the west, low taxation structure, and the population even at that time was already starting to grow. Those factors also weighed into their decision.
Q: What is it about Nevada’s favorable tax climate that makes doing good business in the Silver State possible?
Pruneau: I think the first thing is you’ve got no personal income tax. So, it’s a great tool to use to attract talent, which we’ve been able to do over the years with not only people in the community — who we truly appreciate — but we can also bring folks in (from other areas). And the low corporate tax structure allows reinvestment strategies that help enable growth.