In today's episode, we're joined by Melanie Sheldon, the senior director of business development at the Nevada Governor's Office of Economic Development. Through her work at GOED, Melanie has witnessed a lot of change in Nevada's business climate over the years as more innovative companies move to the state.
In today's episode, we're joined by Melanie Sheldon, the senior director of business development at the Nevada Governor's Office of Economic Development. Through her work at GOED, Melanie has witnessed a lot of change in Nevada's business climate over the years as more innovative companies move to the state.
Clarification: Nevada has a fully statutory incentive program, not a discretionary one.
00:00
Welcome. You're listening to Diversify Nevada, a podcast produced by the Governor's Office of Economic Development. Diversify Nevada provides insightful discussions and expert analysis on the driving forces behind our state's economic, workforce, and community development. I'm Tom Burns, the executive director of the Governor's Office of Economic Development. We're your hosts, Evan Haddad and Carli Smith.
Speaker 1 (00:28)
Today's guest is Melanie Sheldon, GOED's senior director of business development. Since joining the GOED team back in 2016, has assisted in bringing over 100 businesses to Nevada, as well as 16,000 jobs and 11.4 billion capital investment to the state. She works to administer Nevada's tax incentive programs, support company expansion, and maintain relationships with the business community. Before GOED, Mel worked for the Australian Taxation Office, which is the Australian federal government's equivalent to the IRS.
She was just recently named Trailblazing Woman of the Year at the 2025 Fast Markets Awards and recognized for her leadership in innovation and growth across Nevada's critical minerals ecosystem. We have so much to talk about and we are extremely excited to have her as today's guest. Ms. Melanie Sheldon, welcome to the show. Welcome. Tell us a bit about your background in business development and what you do here at GOED. Kind of take us up to now from the past few years?
Speaker 2 (01:23)
So I oversee international and domestic business attraction and retention. That includes the other tools that we can deploy to make that occur, whether that's the tax abatement program, workforce development programs, connecting companies to other resources and support, business support programs that occur outside of our agency. It's very much just meeting a company where they're at, determining where they're going to find the best value, and then tailoring our approach to make their growth or their location here as seamless as possible. And that can look different. If you've seen one project, you've seen one project. But that can be everything from demographics to uh helping a company inform its due diligence models to site selection to business incentives, right through to assisting them through navigating the permitting process and getting them introduced to their local economic development teams.
Speaker 1 (02:29)
Cool. When did you move to the US? I've always wanted to ask you this. How did you get to Reno and Nevada in particular?
Speaker 2 (02:36)
I moved here 11 years ago. Wow, that doesn't time fly. I've only ever lived in Las Vegas, but then again, it's Nevada is such a great place. I see no reason to live anywhere else in the US. Now you get to visit us up north too sometimes, which is always a treat. That's exactly right. And I very much enjoy that as well. I mean, it's just a great state everywhere. Couldn't agree with you more.
Speaker 3 (03:05)
So from a business development perspective, tell us about where Nevada is now compared to when you started 10 years ago. Has it changed if at all?
Speaker 2 (03:15)
Oh my goodness. It has changed significantly. mean, even 10 years ago, there was a shift in economic development. I think after the Great Recession, it was very obvious there did need to be economic diversification to bring in that economic reinforcement and resilience. Our legacy industries, mining and gaming, they are our legacy industries and we love and appreciate them.
However, um there was the need to diversify as well and that would bring in new opportunities and also some stability to the Nevada economy. So I look back 10 years ago when I first started and there was no Google, Tesla was in its infancy. We didn't have a lot of the data centers we have now. There was no Redwood materials.
Nevada wasn't being talked about as a leader in the critical mineral, lithium and clean energy space. That wasn't even something that was making its way into conversations. I mean, now we look back, I mean, from a very tourism and mining dominated economy, I think we've really been able to bring some balance. And I think now we are truly seeing Nevada as a leader in the critical minerals and lithium space, as well as being a very innovation driven economy. We've got strategic investment, public private collaboration. I think we're really positioned to compete on a national and global level. And I don't think we're showing any signs of slowing down. Nevada is open for business. That is right.
Speaker 1 (05:00)
So if you could tell our listeners, what does diversification mean in an economy? You've talked about how it's grown and developed here in Nevada, like what does that mean and why is that important for someone who might not be plugged into economics and markets and stuff like that?
Speaker 2 (05:15)
I think the diversification I think is so important because that brings with it a range of opportunities. That's new tax revenue, that's educational opportunities, that's community growth as well, everything from your usual community services up to growing industries where maybe Nevadans can graduate from university and want to stay in the state because there are so many opportunities and they can bring their expertise and skills, apply them to somewhere where they have family and history. So I really think it's about providing those opportunities.
And from that flows so many benefits from community development right up to, you know, I think it just, I think it has an impact on everyday life.
Speaker 1 (06:07)
What makes Nevada such a great place to do business? Like when you're out there meeting companies, what are some of the ways that you're trying to sell our state? Like, why is this a cool place to not only do business, but live?
Speaker 2 (06:20)
So I think we have like a really powerful mix of strategic advantages. We are a pro-business climate. We are a low tax climate. And I think we've been shown ourselves to be very forward thinking in economic development as well. So I think that really is attractive to companies looking to expand or relocate. um I definitely think that we're agile and we showed that we're invested in building out this opportunity. Also, maybe I'm biased here, but I think...
To me, Nevada offers a stake in something that's very transformative. We are constantly evolving. And I go back to question one where I talk about what's just happened in the last decade. So I just think that we're showing ourselves to actively shape a new generation of industries, everything from renewable energies to logistics tech. And I just think that the blend of entrepreneurial spirit, bold policy thinking, a great tax climate. and also a great place to live, think that combines to put together a really compelling story. Well, you sell it well, that's for sure. Good, because that is my job.
Speaker 3 (07:35)
Well, you're doing an excellent job at it. uh So how does Nevada's incentive package stand out in competing with other states to attract companies? And what strategies do you see other states using to stay competitive? What are some of our competitors? What are we doing to kind of stand out in the crowd?
Speaker 2 (07:48)
I think we stand out a lot. I will say that a lot of states are very heavy on front loading their incentives. So they do large upfront giveaways and I understand that that has a value to a company, especially as they become established somewhere. But I do think in comparison, we have a very smart balance between business friendly tax policy, targeted incentives and also long-term strategy as well.
Our incentives are performance based and I think that does contribute to long term growth alliance and also just strategic partnerships as well. So this is a not upfront deal. This is something that you will be working with the state for up to, you know, some of our incentives go for 20 years. So we're in partnership with you and you will receive the benefits of those tax abatements, but this is more than just a one shot offer.
And I think as well, like we can combine those with cost advantages and you know, just I think that that probably sets us apart. We are one of the few states that has purely *statutory incentives. A lot of states will have a mix of statutory and discretionary. So we do stand out a little bit there, but I do think the way our packages have been crafted has been very smart, has been very strategic, and a lot of companies have found them to be incredibly useful, not just as they locate here, but also as they grow here as well.
Speaker 3 (09:25)
We're in it for the long haul. And do you mind going in a little bit about the auditing process? Because I know we audit every two and five years, and kind of just bring what we do as a state to ensure that these companies that are moving over here are doing their due diligence and they're following the rules and that they're being good stewards of our tax dollars.
Speaker 2 (09:42)
Absolutely. So when a company is approved for tax abatement, they actually enter into a contract with the state. And part of that contract is a two year and five year compliance audit. And that's conducted by the Department of Taxation, if a company will be deemed compliant or non-compliant.
Luckily, the majority of the time they are deemed compliant, but that is actually the Department of Taxation just verifying that the company has adhered to its statutory requirements, which are our wage, job creation, uh capital equipment investment, payment of healthcare employment premiums. And if at any stage a company is deemed non-compliant, there are recapture provisions and that does involve recapture of the entire amount of abatements received plus the interest rate of the day. We do check our compliance levels on an annual basis and sometimes even more frequently and we do have a very high compliance rate. It is pretty unusual for a company to be deemed non-compliant but unfortunately it does occur.
Speaker 3 (10:59)
Thanks for going into that because I think that is one of the things that doesn't get said enough is that we are double checking, triple checking these things before we bring companies into Nevada because we want to make sure they stay here.
Speaker 1 (11:12)
And speaking of companies who go through this process, can you share with us a success story, something that kind of sticks out in your mind of a company that came to Nevada and had a lot of uh success and we helped them along the way?
Speaker 2 (11:26)
This is such a hard question. Oh, I'm sure it is. It's only because I've worked with some amazing, amazing companies. uh I have worked with companies that are globally known, but look, I've worked with companies that started at somebody's kitchen table or at someone's garage or once a company that went on to be quite successful that was started in a church basement that they were given the space for free so they could grow. So I mean, oh every business is so vital and offers infinite opportunity to Nevada's economy and to its citizens. um my goodness, it's a privilege to be able to work with any and all companies that locate in this state. And I want to choose a favorite and there's... uh How do you do it? How do you do it? That's a theory in there.
Speaker 3 (12:26)
That is a fair one, exactly. And Nevada is so great that there's great ones up north, there's some down south, there's some across the state in our rural, so I completely understand that. Let's talk about the business pipeline. What kinds of companies have been moving to Nevada recently?
Speaker 2 (12:43) You know, Nevada continues to be an emerging hotspot for relocation and expansion, and that's everything from small, medium to very large enterprises and international companies. And I think just the natural advantages of being in Nevada has really seen us to be able to diversify out. Some of the, what we've really seen growth in, I mean, got to start with lithium, right? Why wouldn't a company want to locate in the only US state that has a fully closed lithium loop? I know some states are coming up behind us, but we're still leading the way, naturally.
And you know, we've got data centers and IT. Our lack of natural disasters is actually a really big draw card as well. But once again, why wouldn't you want to be in the company of Apple, Google, Nova, Vantage, Switch? And that's just to name a few. And these big names have shown that they can locate in Nevada successfully and also operate in Nevada successfully. And I think that speaks volumes.
Speaker 1 (13:50)
For those who might not know, just give us a quick breakdown of what the lithium loop is. I don't know if we've talked about it yet.
Speaker 2 (14:00)
Actually, that's a really good point. I'm so used to saying the lithium loop. are like, what are you talking about? So that is everything from mining and extraction right through to the finished product and then recycling. So recycling is really the component that closes that loop.
And in 2022, we had Redwood Material open a very large recycling facility that was also dealing with the production of anodes and cathodes. And that was the moment where I think we realized that we had that end to end. And now we are just focused on building out each part of that process so that we can only strengthen what we already have.
Speaker 1/2 (14:42)
Redwood Materials is a lithium battery company. They're working in that space with EVs, right? When did they come to Nevada? They recycle everything. Yeah, so we mine it, then we extract it, and then they build the batteries. So Tesla builds the batteries. And then after their life cycle is complete, then Redwood takes it over and then recycles it.
Speaker 2 (15:03)
They are the main one. They actually started in the state, I believe it was around 2018, and they were recycling consumer electronics. And somehow from that, I think that just the demand and the need became obvious and they really had their finger on the pulse and were very quick to then address that demand. When we talk about recycling batteries, they draw those components that are in demand and they repurpose them for different things.
But it was really amazing to go to their facility recently and see that they are using some of these midlife batteries to power a microgrid out there as well. wow. So super interesting. Yeah, big things happening over there. It would be remiss of me to not mention manufacturing. Once again, you're in great company here. You're among some of the largest technologically advanced manufacturing organizations in the world.
And that goes for Northern and Southern Nevada. I don't believe that Nevada comes to the forefront of people's minds as a manufacturing hub, but I think our manufacturing sector and its amazing growth and the international interest it receives, I think that would beg to differ. And also I've got to add in tech, AI, clean tech, and of course, logistics and distribution. And that's really down to Nevada's logistical advantages.
Southern Nevada enjoys access to five major USC ports and you're within a day's drive of major population centers. You've got access to 60 million consumers and also 9 % of the population. So if you're somewhere in the logistics space and you're looking to ship a product, it's hard to go past Nevada's logistical advantages and then.
Of course, this all speaks to our low tax regulatory climate, speed to market. That's what I think plays a big part in bringing in these amazing, innovative, diverse companies across these highly sought after sectors.
Speaker 1 (17:07)
When you're talking to a company that's interested in Nevada, what are some of the most common questions that you get asked? And what are some topics that come up often when they're looking at sites and just figuring out whether Nevada is the right place for their business?
Speaker 2 (17:21)
You know, I think I would have to start with the common misconceptions. And this is nothing against anybody. My goodness, I had these same misconceptions 11 years ago before I moved to Nevada. But I have to say, the first thing and what we often see is, isn't Nevada just casinos? Right. Isn't it just Las Vegas? Yeah.
Yeah, it's just wonderful when you're able to talk to companies about the diverse high-tech industries and this is growing by the day. They're often surprised to just know how much activity is going on in various sectors across our state. It's just something that doesn't come to the forefront of their mind. They think, know, Nevada, they might think... uh weekend in beautiful Lake Tahoe or maybe a weekend on the strip, but there's so much more and it's really great to, I think, go beyond the company's expectations when you're able to tell them some of this amazing stuff. Another common question, I hear there's no water and businesses can't thrive. Once again, not true. Look, water is managed and recycled here and it's recycled with growth in many sectors. It is highly managed, but water users must plan responsibly.
But that doesn't stop industrial development growing. And as long as it's responsible growth and it's done in concert with the partners that we work with in the water space, then companies have no issue thriving, even if they're a slightly heavier water user. Another thing I hear is Nevada doesn't have a skilled workforce. Absolutely not true. For a start, these companies that I have alluded to earlier, they're getting good people from somewhere. And I think that's really due to, you we have an amazing community college ecosystem that works very much in conjunction with our office to stand up training programs. You know, year upon year, we're seeing that skilled and expanding workforce as well. You know, we have UNLV and UNR and they serve as the state's flagships for education, research and innovation.
The workforce is there and I was actually speaking to a company the other day that was mentioning how surprised they were at the quality of workforce that they had been able to attract and maintain since moving here. Well, that's good. And that's a nice compliment here. Yeah. Once again, I think this is one of the questions or maybe a misconception as well.
And I have to say another question -- Las Vegas is not for families. You can't raise a family in Las Vegas. Now it's a different story maybe for companies looking at Northern Nevada. Maybe they've spent time there. They've seen the wonderful outdoor recreational lifestyle. Maybe they've spent time in Lake Tahoe. So the perception might come across a little bit different.
But I think it's maybe lesser known in the Southern Nevada part. And so that's another thing we come across. And of course, you know, we know that Las Vegas functions like any other city. They have quiet neighborhoods, nine to five jobs, Sunday brunches. You know, we have an increasing number of live theater, music festivals, charter and magnet schools. That's also another thing. What I really like to do is when a company comes out to see a site, I love to take them for a drive around certain communities so maybe they can see the beautiful master plan activity that's going on out here or just the wonderful vibrant culture that occurs maybe away from what they're familiar with. As I said, anybody going to Northern Nevada probably don't have to go too far to see that.
And once again, like you go up to Northern Nevada, you see those unique cultural events as a tech and innovation boom going on up there as well. It's more about having fun, exceeding expectations. It's okay if there's a misconception because I do think, I think we've got an answer to everything and it's good. Yeah, a little bit of everything here.
Speaker 1 (21:30)
Yeah, for sure. I mean, what I always tell people is when I moved to Las Vegas, I only lived there very briefly, like nine months during the pandemic but I didn't have a car and one of my impressions was how bikeable Las Vegas is. I mean, in the summer it's too hot, honestly, which is unfortunate, but you can still do it. But it's incredibly bikeable. It's really flat and you can just like go all across the city on a pretty average road bike. And it was like kind of shocking for someone from the East Coast. I did not expect that. You just never would have known being an outsider, I guess, or like someone from another place.
Speaker 2 (21:58)
No, and look, to be fair, I certainly didn't either. I always joke that I am more outdoorsy in Las Vegas than I've ever been in my life, obviously, as you mentioned though, there are some days you're not feeling that. And so there's absolutely no judgment on my part of people having these misconceptions. had them myself, but it is really just amazing what exists beyond what's commonly known. Totally.
Speaker 3 (22:24)
So final question, we ask everyone that is on the show, why do you care about economic development?
Speaker 2 (22:33)
And please don't think this sounds cliche, but I do like I honestly do believe at my core that it is about improving lives. I think that it's about creating opportunity, mobility, community resilience. And I think economic development is the engine that powers better schools, safer neighborhood, health care, know, high quality of life.
Look, I very much love this state. think in some instances it's been underestimated and it's such a privilege to actually be part of really like basically showing what the state can do, especially because as I said earlier, I don't believe that there's any signs of it slowing down. I do feel like it's about people first and it is about building an economy that works for everyone.
And um I think that's why I will continue doing this job with purpose and pride.
Speaker 3 (23:30) Love it. Fantastic. You get my stamp of approval for that answer. Well, Melanie, thank you so much for your time. This is great talking to you. Yeah, thank you for being here. Thank you for having me. Thank you so much.
Speaker 3 (23:45)
That's all for this episode of Diversify Nevada. This podcast was created by the Governor's Office of Economic Development with the help of our sound editor, Michelle Rebaleati. If you'd like to learn more about our agency, can visit our website at goed.nv.gov. And if you'd like to share feedback about the show or suggest a topic you'd us to cover, send us an email to goed at goed.nv.gov. Thanks for joining us and we'll be back soon.