reviewjournal | If you’ve got enough money, acres upon acres of undeveloped land and an “innovative technology,” you soon could form a new local government in Nevada.
When Gov. Steve Sisolak last month announced his plan to launch Innovation Zones in Nevada to jump-start the state’s economy by attracting new tech companies, the details of how those zones would operate proved scarce.
According to a draft of the proposed legislation, obtained by the Review-Journal but not yet introduced in the Legislature, Innovation Zones would allow tech companies like Blockchains, LLC to effectively form separate local governments in Nevada, governments that would carry the same authority as a county, including the ability to impose taxes, form school districts and justice courts and provide government services, to name a few duties.
Sisolak pitched the concept in his State of the State address as his plan to bring in new companies that are at the forefront of “groundbreaking technologies,” all without the use of tax abatements or other publicly funded incentive packages that had previously helped Nevada bring companies like Tesla to the state.
During his speech last month, Sisolak specifically named Blockchains, LLC as a company that had committed to developing a “smart city” in the area east of Reno that would run entirely on blockchain technology, once the legislation passes.
The draft, which could change before it’s unveiled as a formal bill, provides the first look into the details behind the concept.
The draft language of the proposal says that the traditional local government model is “inadequate alone to provide the flexibility and resources conducive to making the State a leader in attracting and retaining new forms and types of businesses and fostering economic development in emerging technologies and innovative industries.”
It adds that this “alternative form of local government” is needed to aid economic development within the state.
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