Nevada Governor Proposes City-Like Innovation Zones
The new Innovation Zones will function like regular cities, but how are they different from a company town? Marcia Wendorf
On February 26, 2021, Nevada Governor Steve Sisolak was joined by Michael Brown, the Executive Director of the Governor’s Office of Economic Development, and Jeremy Aguero, principal analyst at Applied Analysis to discuss the state’s Innovation Zone proposal.
As we previously reported, Governor Sisolak first unveiled plans for Innovation Zones during his 2021 State of the State address on January 19, 2021.
At the press conference, Sisolak described the unprecedented economic impact COVID-19 has had on Nevada s tourism and gaming industries, and he described the Innovation Zones as a way to lure to the state companies that are at the forefront of groundbreaking technologies , such as blockchain, autonomous technology, robotics, artificial intelligence, the internet of things, wireless technology a
Governor Steve Sisolak
Nevada’s governor Steve Sisolak has outlined more details of his controversial proposal to allow technology companies to establish Innovation Zones in the state. The developments are pitched as an “alternative form of local government political subdivision” with powers similar to those of county governments.
The plan for the greenfield smart cities is a bid to diversify Nevada’s economy through technologies such as blockchain, autonomous systems, Internet of Things (IoT), robotics, artificial intelligence, renewables and biometrics, without the need for incentive packages, tax credits or public funding.
Companies in an Innovation Zone would pay taxes like other Nevada businesses as well as an additional special fee placed on the technology that is the focus of the district.
Toyota Motor Corp said it plans to sell as much as 500 billion yen (US$4.7 billion) in yen and foreign currency sustainability bonds, in what would be one of the biggest offerings globally in the booming market to fund environmental and social projects.
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