Regional Collaboration Leads to $450 Million in New Capital Investment for Southern Nevada

The Las Vegas Global Economic Alliance provided assistance to 62 businesses creating more than $450 million in new capital investment for Southern Nevada.Las Vegas – The Las Vegas Global Economic Alliance announced that during the most recent fiscal year, the organization and its regional economic development partners provided start up, expansion and relocation assistance to 62 businesses which will create 2,640 new jobs, provide more than $450 million in new capital investment and generate a total economic impact of more than $1.5 billion for Southern Nevada.

“By working together, the State of Nevada, local municipalities, nonprofit economic development groups, Clark County and the LVGEA were able to provide extensive and consistent services to prospective businesses,” said LVGEA Chief Operating Officer Jonas Peterson. “As the economy improves and our collective outreach capacity continues to grow, we’ll deliver even better results. All of our results are verified by clients and we use IMPLAN, the gold standard of economic impact modeling. These robust numbers show how important it is that the region work together to realize shared economic prosperity.  Collaboration makes us stronger, and we believe our increasing efforts to diversify and grow the regional economy will lead to even more success next year.”

Since 2012, the Las Vegas Global Economic Alliance has worked cooperatively with the Nevada Governor’s Office of Economic Development, Clark County, and the economic development entities from the Cities of Las Vegas, Henderson, North Las Vegas, Boulder City, and Mesquite to diversify the economy, maximize available resources and bring new industries to Nevada.

Highlights from FY2012/13: 

  • LVGEA provided direct assistance to 31 businesses, which will provide more than $370 million in new capital investment
  • According to IMPLAN, a nationally recognized economic impact model, the projected five-year direct and indirect economic impact of LVGEA assisted businesses is more than $1.5 billion
  • LVGEA-assisted businesses are projected to generate more than $51 million in local and state tax revenue over the next 5 years
  • Manufacturing, distribution, and technology firms found Southern Nevada a connected and cost effective place to do business

Selected Company Success Stories:

SolarCity

The Las Vegas Global Economic Alliance, Clark County, the Las Vegas Metro Chamber of Commerce, the Governor’s Office of Economic Development, and The inNEVation Center put together a full-court press to attract SolarCity, one of Fast Company’s “50 Most Innovative Companies” to Southern Nevada. Working with regional economic development partners, SolarCity was able to secure a Catalyst Fund grant in the amount of $1.2 million and tax incentives to encourage the growing company to open a “second headquarters” in Clark County.  SolarCity is poised to open its facility on Aug. 14. In the coming years, SolarCity expects to create hundreds of good paying jobs in Southern Nevada.

“Clark County was pleased to assist in a collaborative effort to bring business and investment to the region,” said Economic Development Manager Lesa Coder. “Companies like SolarCity will help to diversify our economy, grow our tax base, and create jobs. I look forward to working with the LVGEA to help them expand and grow in our community.”

Take-Two Interactive Software

Efforts by the city of Las Vegas and the state of Nevada to recruit high-tech industries paid off in 2013. Take-Two Interactive Software, Inc., the company behind top video games such as “Grand Theft Auto” and “2K Sports,” moved its testing and quality assurance studio to Downtown Las Vegas, bringing 150 jobs to the area and accelerating downtown’s evolution as a technology hub. Working cooperatively with the City of Las Vegas, the Las Vegas Global Economic Alliance assisted the company with its application to the Nevada Catalyst Fund. Created in 2011, the Catalyst Fund incentivizes the expansion or relocation of businesses that will quickly result in the creation of high quality, primary jobs in Nevada.

“The city of Las Vegas is pleased to have played a significant role in restructuring of our regional development organization to become the LVGEA, and it has led to a more effective alliance that is now showing great progress,” said City of Las Vegas Deputy City Manager Scott Adams.

FedEx Ground

In 2013, FedEx Ground, a leading small-package ground carrier and an operating company of FedEx Corp. (NYSE:FDX), selected a site in Henderson, Nevada, for a new 296,000 square-foot package distribution center scheduled to be completed in February 2014.  The company chose this site because it offers easy access to local highways, is close to customers, and has a large population from which to recruit future employees.

“Having FedEx, one of the most recognized corporate brands in the nation, locate to the South 15 Airport Center will attract additional business to the area surrounding the Henderson Executive Airport and create considerable employment opportunities,” said Barbra Coffee, Economic Development/Redevelopment Manager for the City of Henderson. “This in turn enhances the quality of life for all Henderson residents.”

Nicholas & Company

Founded in 1939 by Nicholas Mouskondis, Nicholas & Co. prides itself on delivering the highest quality food products and services to its valued customers throughout the Intermountain West. Because of its focus on customers and team members, the company has earned numerous awards; including the Best of State for food distribution awards in 2003, 2006, 2009, 2010, 2011, 2012, and 2013, and recognized as the Best Company to Work for in 2005 and 2011 from Utah Business Magazine. Nicholas & Co. has a business culture focused on creating mutual success with customers. During the third quarter of 2013, Nicholas & Co. will commence construction on an all new distribution facility in North Las Vegas, creating more than 100 jobs.

“I’m very pleased to have been a part of the progress we’ve made this year,” said Terri Sheridan, Economic Development Administrator for the City of North Las Vegas. “Working cooperatively, our agencies made a sizable impact on this region and improved the lives of thousands of people in our community.”

Chilly Jilly’z

Chilly Jilly’z has been serving ice cold beverages and coffee drinks in Boulder City for a little over a year. With the help of the Boulder City Chamber of Commerce, Chilly Jilly’z expanded its business and now serves Boulder City from two convenient locations.

“No matter how small our impact may be, Boulder City truly appreciates the Alliance’s future goals,” said Jill Lagan, chief executive officer of the Boulder City Chamber of Commerce. “Boulder City was excited to work together to bring business and investment to the region. We are proud to help reestablish the economic diversification of the region. I look forward to working with the LVGEA to help them expand and diversify the growth in our community and state.”

Mesquite Regional Business, Inc.

In 2012, the City of Mesquite reorganized its economic development efforts and recruited Gaye Stockman to take the helm of the city’s new economic development organization, Mesquite Regional Business, Inc. An IEDC certified economic developer (CEcD) with over 24 years of experience, Stockman and her team have made positive strides in economic development in Mesquite, recruiting two new businesses to the community and helping others to expand.

“Mesquite Regional Business Inc. was thrilled to have been a part of the progress the Las Vegas Global Economic Alliance made in pursuing economic diversification in the state of Nevada,” said Stockman. “Every helping hand is essential to the progress of our community.”

About Las Vegas Global Economic Alliance

The Las Vegas Global Economic Alliance is a 501(c)6 membership organization dedicated to diversifying the economy in Southern Nevada and building the foundations for long-term economic growth.  For more information, call 702.791.0000 or visit www.lvgea.org. The Las Vegas Global Economic Alliance is located in The Rob Roy inNEVation Center.

About Switch

Switch is the world’s most reliable technology ecosystem, in the country’s safest desert. Switch is a Nevada-based technology ecosystem that includes the Switch SuperNAP, a 407,000-square-foot facility that houses the servers of Google, VMWare, HP, Intuit, eBay, Zappos, and many more. The SuperNAP has gained global attention through its use of patented technology to house servers at a density that far surpasses industry standards, with additional safeguards provided by armed security and Las Vegas’ unique geography as a city free from natural disasters. The company provides colocation, connectivity and cloud services, all on an expansive technology campus in Las Vegas. Switch also powers the inNEVation Center – the first public/private economic diversification effort of its kind. For more on Switch, visit switchlv.com or contact Kristi Overgaard at ko@switchlv.com.

About the Rob Roy InNEVation Center

The Rob Roy inNEVation Center is the first public/private economic diversification effort of its kind. It was developed by Rob Roy, the Founder and CEO of Switch, Nevada’s most successful tech start-up to date. The more than 40,000-square-foot center is a COWORKING environment where start-ups and entrepreneurs (inNEVators) converge with business luminaries, political leaders, and investors (COLLABORATORS) to launch and nurture new ventures. It’s also a thriving business community complete with networking opportunities and educational and promotional events held at a state-of-the-art venue. The inNEVation Center is powered by Switch, the Las Vegas-based technology superpower whose globally dominant SuperNAP provides 100% secure uptime for the servers of Google, VMWare, HP, Intuit, eBay, Zappos, and 462 others. For more on the inNEVation Center, visit inNEVation.com or contact Richard Ethington at rethington@innevation.com.

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