Education: The Key to Success

Education affects more than workforce, more than the economic development that comes as a result of the talents and training of employees.

A high school graduate, entering the workforce in Southern Nevada directly after graduation, earns on average $6,000 more annually than a non-graduate. At a very basic level, that’s the effect of education on the economy. Education affects more than workforce, more than the economic development that comes as a result of the talents and training of employees and more than the … [Read more...]

Trending in Henderson

Today, Henderson is Nevada’s second largest city and consistently ranked on “Best Of” lists from safety to livability.

From a company town to a city companies want to be in: Henderson has trended towards the feel of a hometown community while evolving to meet the needs of residents and businesses. In the 1930s, Henderson housed builders working on Boulder Dam. During World War II the Basic Magnesium Plant in Henderson processed magnesium. Those workers left after the war, but Henderson … [Read more...]

Building a Healthy Economy

Until recently, the term “medical tourism” largely referred to Americans traveling out of the country looking for affordable healthcare.

Until recently, the term “medical tourism” largely referred to Americans traveling out of the country looking for affordable healthcare in technologically advanced but less expensive venues, from Mexico to Thailand and parts in between. Now the term is starting to come home, often referring to domestic travel of American citizens within U.S. borders, traveling to find the … [Read more...]

A Developing State: Growing Economy Encourages New Projects

Business is growing across the state. Those who survived the recession are going back to work developing.

As Nevada’s economy picks up the pace, businesses are returning to Nevada and Nevada is returning to business – mostly. In Southern Nevada there’s no real wage growth, gaming revenues are down, home sales are slowing. At the same time, industrial property vacancies are dropping, flex space rents are low but flex spaces themselves are filling, and big box industrial space is … [Read more...]

Game Changers: Economic Development in Nevada

Nothing paints a clearer picture of the results of economic development than the Silver State.

Nothing paints a clearer picture of the results of economic development than the Silver State. Nevada has transitioned from a state with the highest unemployment rates in the country to a state welcoming Tesla to its economy, breaking ground on a 12,000-home master planned community, launching one of the first-of-its-kind interactive medical communities with Union Village and … [Read more...]

Go Anywhere From Here: Nevada’s Transportation System

Making transportation plans a community effort led to collaboration between stakeholders in transportation groups concerned with moving people.

When Tina Quigley became general manager of the Regional Transportation Commission of Southern Nevada (RTC) she and her team went promptly to talk with officials in metropolitan areas where they’ve created transportation plans that were both funded and built, and had community support behind them. The common message from leaders in those communities was that even a public … [Read more...]

NAIOP Works for Southern Nevada’s Commercial Real Estate Industry

NAIOP gives everybody a seat at the table and allows the leaders of the Southern Nevada’s commercial real estate industry the opportunity to work together.

As an organization, it’s clear that NAIOP works. The commercial real estate development association serves as the premier trade organization for commercial real estate development professionals in Southern Nevada. Membership includes brokers and developers as well as general contractors, bankers, architects, engineers, title companies and attorneys. In large part, it’s the … [Read more...]

Nevada’s Residential Market: A Season of Change

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices.

For the last two years, Nevada’s residential housing market has seen substantial rebound, with significant effect on prices. Lowered median home prices have created low inventory and a seller’s market, which in turn impacted distressed properties and neighborhoods. “People are a lot smarter today, having learned from mistakes that occurred in the market; buyers are much … [Read more...]

Hospitals in Nevada: An Industry in Transition

Hospital administrators are working very closely with purchasers of care and insurance carriers, to needs while striving to be competitive with costs.

Some things that don’t change in healthcare: the importance of patient outcome, patient experience, patient compliance and patient ability to pay for services. Other things in healthcare are changing rapidly: bio-engineered medications to treat specific patients, imaging devices take the place of exploratory surgery, the model for healthcare, the way hospitals are reimbursed … [Read more...]

Connecting the Dots: Nevada’s Place in the Global Economy

In Nevada where the need to diversify the economy continues even as recovery takes hold, increasing the businesses that export could bolster the economy.

Ninety-six percent of the world’s population lives outside the U.S. Yet only 1 percent of American businesses export their products and services. In countries like Germany and Japan, some 40 to 60 percent of GDP is in export. Still, our 1 percent translates to trillions of dollars coming into the U.S. economy, according to Randy Innis, chair, Nevada District Export … [Read more...]

Builders and Developers: Bullish on Nevada

Commercial real estate, which saw many projects stalled mid-recession, is finally moving in Nevada: contractors are hiring and builders are returning.

Nevada’s skyline is once again changing. Commercial real estate, which saw many projects stalled mid-recession, is finally moving: contractors are hiring and builders are returning. But is there activity across the board in all industry sectors – industrial, office, retail, mixed-use – or are some moving faster than others? Does it spell recovery? Or another boom and bust … [Read more...]

Educating Nevada’s Workforce: Higher Education in Nevada

Education and economy go together. It’s almost like an equation: education plus workforce equals a healthy economy.

Education and economy go together. It’s almost like an equation: education plus workforce equals a healthy economy. A top flight, community-involved system of higher education is a draw for new industries looking to locate within a state. There’s a need for research institutions, an educated, trainable workforce and a healthy feeder K through 12 school system that prepares … [Read more...]

Banking on Nevada: A New Day Dawning

Banking doesn’t exist in a vacuum; the industry is affected by the economic environment.

Banking doesn’t exist in a vacuum; the industry is affected by the economic environment which, in turn, can be directly affected by practices and realities within the banking industry. So it should be good news that Nevada bankers are feeling optimistic about 2014. The banking industry has stabilized, according to George E. Burns, commissioner, Nevada Financial Institutions … [Read more...]

Betting on Gaming in Nevada

Nevada and gaming go together like peanut butter and jelly, it has been Nevada’s foundation for so long it’s hard to think of one without the other.

Nevada and gaming go together like peanut butter and jelly. The industry has been Nevada’s foundation for so long it’s hard to think of one without the other. However, as gaming changes, Nevada has found itself adapting and learning to find new ways to earn revenue in a market that, it would appear, everyone wants a piece of. The bill allowing online poker in Nevada was … [Read more...]

Nevada’s 2014 Economic Forecast: The Way the Wind Blows…

This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years.

When it comes to fortune telling, nothing is ever certain, but a handful of industry experts share their thoughts on Nevada’s economy in 2014. This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years. While most business executives are proceeding with caution, they seem to agree the worst of … [Read more...]

Rural Nevada: Independent Spirit Alive and Well

Rural Nevada seems to be rebounding in most communities that were hit the hardest, and recovering in a very positive manner.

Nevada’s rural economies are microcosms of the state’s economy, each with its own characteristics, strengths and weaknesses. While the rest of the country experienced the economic downturn, several of Nevada’s northeastern rural counties barely even blinked. As the economy dove and gold prices rose, mining counties like Elko are just now catching their breath as rapid growth … [Read more...]

The Cyber State: Nevada’s Burgeoning Technology Industry

So what’s next? In terms of the next big technology, the crystal ball is fuzzy. But in terms of Nevada technology, growth is in the works.

The Brookings Report; Unify, Reorganize, Diversify: An Economic Development Agenda for Nevada, commissioned by the Governor’s Office of Economic Development in 2011, identified seven industry clusters Nevada should develop, specifically naming the technology and aerospace industries. In 2013, many in those industries are looking at and locating in, Nevada. Tech Comes to … [Read more...]

In the Black: A Look at Retail in Nevada

A Look at Retail in Nevada

Nevada’s retail industry, both from the brokerage and the retailer’s side, is guardedly optimistic. The optimism is driven by general economic indicators coupled with national retailer behaviors and Nevada sales performances in 2012. Let’s Go Shopping When locating stores, retailers look at sales performance in a city. “We’re seeing sales performance continue to increase in … [Read more...]

Heart of Our Cities: A Look at Nevada Downtowns

A healthy center reflects a healthy community. For a city to thrive and prosper, downtown needs to be a draw for visitors and residents alike.

Downtown is the heart of a city. Traditional wisdom states that a healthy center reflects a healthy community. For a city to thrive and prosper, downtown needs to be a draw for visitors and residents alike. Economically, a robust, vital midtown attracts businesses, which in turn employ residents and pumps money into the economy. A healthy downtown creates sustainability, as … [Read more...]