Virginia City in Storey County, Nevada, is a treasure trove of history. The county boasts a rich Old West legacy with the Comstock Lode in the 19th century and modern tax abatements attracting billionaires to the Tahoe-Reno Industrial Center. County Manager Austin Osborne recently presented SB69 in the state Legislature requesting companies benefiting from large tax breaks to help defray the impact on government services. The bill applies to businesses promising at least $1 billion in economic development, offering significant tax abatements. Osborne highlighted the challenges facing Storey County, including the strain on infrastructure and county budgets. The county has benefited from tax abatements brought by companies like Tesla, but also faces challenges in meeting growing needs without corresponding tax benefits. Despite opposition, Storey County stresses that SB69 is pro-economic development and necessary to ensure fair agreements between businesses and the community. The outcome will determine whether Storey County can strike a fair balance in the negotiations and secure a better future for its residents.
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