Sen. Rosen touts Inflation Reduction Act benefits in Nevada

As the one year anniversary of the Inflation Reduction Act approaches, Rosen visited Unimacts, a clean energy manufacturing company, which has been able to take advantage of several tax credits afforded by the law to expand its operations into Nevada and increase revenue. (Greg Nash/Pool via AP, File)

By Isabel Soisson

August 10, 2023

As the one year anniversary of the signing of President Biden’s Inflation Reduction Act (IRA) approaches, Nevada Democratic Senator Jacky Rosen is reminding voters of the benefits she helped bring to the state, and highlighting one of the key projects the law spurred.

“The Inflation Reduction Act is projected to bring over 30,000 new jobs in the next five years to Nevada, possibly more, as we see more and more factories like this come on board,” Rosen said in a press release.

On Monday, Rosen also visited Unimacts, a clean energy manufacturing company in Las Vegas that has benefited from the IRA. The company has been able to move their production out of China and Mexico and into the United States as a result of the bill’s passage in 2022.

The company was able to take advantage of the law’s manufacturing incentives, hiring 80 people and opening a new facility that makes metal torque tubes in Las Vegas in early 2023. These metal tubes allow solar panels to rotate during the day, which boosts efficiency by about 10%, according to CEO Matt Arnold.

Unimacts is also taking advantage of a specific credit in the law that will help the company get a credit of $870 for every ton of torque tubes produced, according to CEO Matt Arnold.

These tax credits are something that Sen. Rosen emphasized during her visit to the Las Vegas facility.

“The tax credits that manufacturers get for bringing back manufacturing jobs to America, bringing jobs to Nevada, those kinds of credits make a huge difference,” she said.

Unimacts is also looking to triple the size of its operations in the near future so that it can build enough capacity to support six gigawatts worth of solar panels and employ over 200 people, something that Arnold says wouldn’t have been possible without the passage of the IRA.

“We wouldn’t be here without the IRA — full stop,” he said.

  • Isabel Soisson

    Isabel Soisson is a multimedia journalist who has worked at WPMT FOX43 TV in Harrisburg, along with serving various roles at CNBC, NBC News, Philadelphia Magazine, and Philadelphia Style Magazine.

CATEGORIES: CLIMATE | HEALTHCARE | POLITICS

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