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GOED reports fewer Q1 wins and jobs; board presses for accountability and a summer state-plan refresh
Summary
GOED reported 10 Q1 wins, lower projected near-term job counts but a higher weighted average wage; board members pressed staff on accountability for company projections and Burns said the state plan will be refreshed over the summer with proposals returned in August.
Steve Sheets, GOED research manager, presented first-quarter metrics showing 10 wins for the quarter, 151 jobs committed within two years and 261 buildout jobs in five years — metrics that both the executive team and several board members characterized as down from the prior period. Sheets told the board the weighted average hourly wage for the assisted wins was $33.61, up from $28.72 in the comparable period last year, and that assisted companies committed roughly $84.3 million in investment for the quarter.
Board member Deborah Jacob said she was "disappointed in the performance," asking what the agency would do to reverse the trend and suggesting the board increase accountability because she suspected some companies overreach their initial projections. "I would suggest that we create more accountability for them and keep their feet to the fire more because I think that they get overly aggressive in their numbers," Jacob said.
Sheets and Director Tom Burns responded that the downturn reflects current market headwinds — including geopolitical uncertainty and tariffs — and that some prospective deals withdrew from the agenda in recent weeks. Burns said the agency audits companies receiving abatements and adjusts abatements at year two and year five as part of the compliance process: "Each of those companies that presented these numbers were audited, and their abatements are adjusted accordingly," he said. Burns also announced that GOED will refresh the statewide economic-development plan over the summer and return to the board with proposals in August after the legislature has concluded.
Sheets also walked the board through pipeline detail, reasons for lost prospects (lack of shovel-ready sites, permitting/zoning issues, workforce gaps) and a list of site visits that included potential large manufacturing prospects for northern Nevada and renewables and logistics interest in other counties. He noted some prospects cited paid family medical leave as a factor in destination decisions.
The board asked for more granular metrics in future reports; director Burns and Sheets said they would refine the packet and reach out to board members about preferred formats for materials. Burns flagged upcoming outreach at SelectUSA and said the Battle Born Venture program recently surpassed $10 million (reported as $11 million in investments to date) in support of high-growth startups.
The board did not take formal enforcement action at the meeting; members instructed staff to return with updated state-plan proposals and to continue auditing abatement recipients per existing policy.
