Governor Joe Lombardo Announces New International Investments in Nevada at 2024 Select USA Investment Summit

This week, Governor Joe Lombardo and the Governor’s Office of Economic Development announced significant new international investments in Nevada at the 2024 Select USA Investment Summit.

“Nevada continues to lead the nation in economic development, and I’m proud to welcome five new international companies to our state,” said Governor Joe Lombardo. “Our low cost of doing business, favorable regulatory environment, and robust litigation ecosystem make us a top destination for companies seeking expansion in the United States, and we’re excited to continue diversifying our economy with international partners.”

Key International Investments

Five international companies have committed to business development in Nevada across strategic sectors, including battery technology, sustainable mining, research services, and energy-efficient manufacturing.

1. Capital Limited – Capital Mining Services

Capital Limited, a UK-headquartered global entity offering comprehensive drilling and mining services across more than 30 locations worldwide, will establish its U.S. presence as Capital USA in Elko. The facility will focus on geochemical analysis and mine drilling operations. Initially partnering with Barrick/Nevada Gold Mines, Capital and MSALABS plan to expand beyond these contracts in late 2024 (lab assays) and 2025 (mineral exploration). The Northeastern Nevada Regional Development Authority (NNRDA) played a crucial role in facilitating Capital Limited’s move to Nevada.

2. PCM RailOne Ag

PCM RailOne Ag, a global company based in Germany, plans a $20 million investment in North Las Vegas to establish a precast concrete railway tie-producing unit for the Brightline West High-Speed Rail Project. This investment is expected to create around 50 jobs and begin commercial operations in Q1 2026.

3. Urban Mobility Systems

Urban Mobility Systems B.V., a cleantech engineering company from the Netherlands, develops and manufactures battery-electric and hybrid fuel cell drive trains to replace traditional diesel engines in heavy-duty vehicles. Their Nevada operations are projected to create between 280-350 direct jobs and 100-150 indirect jobs.

4. FTE Drilling

FTE Drilling, a service provider from Quebec, Canada, is establishing its U.S. headquarters in Winnemucca. The Humboldt Development Authority and the Nevada 95-80 Regional Development Authority played significant roles in supporting this investment.

5. Noovo

Noovo, a French company specializing in creating tiny houses on wheels and converting vans into mobile offices and homes, is expanding its manufacturing facility in Las Vegas from 6,000 square feet to 20,000 square feet. The company plans to hire an additional 100 employees over the next two years.

Governor Lombardo’s office contributed to this report.

Source:2News