Around the State - September 2009

Around the State

WaterSmart Innovations Conference Garners International Support

The second WaterSmart Innovations Conference and Exposition presented by the Southern Nevada Water Authority (SNWA) in conjunction with the U.S. Enviornmental Agency’s (EPA) WaterSense Program and the American Water Works Association (AWWA) is slated for October 7 -9, 2009 in Las Vegas..  The conference has garnered support from several prominent organizations such as Alliance for Water Efficiency, Audubon International and the International Center for Water Technology.  This is the largest conference of its kind in the world.

Secretary of State’s Office Now Responsible for Business Licenses

Effective October 1 of this year, the Secretary of State’s office will be responsible for all Nevada business licenses.  The change stemmed from AB 146 which was approved in the 2009 Legislature.  The bill transfers authority to issue annual business licenses and collect business license fees from the Department of Taxation to the Secretary of State.  For more information visit www.nvsos.gov.

Recovery Act Expands SBA Microloan Program

The U.S. Small Business Administration (SBA) is expanding its Microloan program and increasing access to capital for small businesses across the country.  The program is shifting to funding provided under the Recovery Act now that it has exhausted the regular FY 2009 appropriations for $20 million in loans and $20 million in technical assistance.  The Recovery Act funds an additional $50 million in loans and $24 million for technical assistance.

Sierra Nevada forms Joint Venture with GA-SNC Solar, LLC

Sierra Nevada Corporation has formed a joint-venture between GA-SNC Solar, LLC, a renewable energy company.  Through the venture, GA-SNC Solar will design, build and install photovaoltaic solar generation facilities that generate energy.  This is Sierra Nevada Corporation’s first push into renewable energy.

Nevada State Bank Assists FDIC with Resolution of Community Bank of Nevada

Nevada State bank is assisting the Federal Deposit Insurance Corporation (FDIC) by acting as Payout Agent in the resolution of Community Bank of Nevada, which was closed by the Nevada Financial Institutions Division.  The FDIC was appointed as receiver and has established a temporary institution, Deposit Insurance National Bank of Las Vegas (DINB).  The FDIC insured DINB will assume transactional accounts and certain other deposits of Community Bank of Nevada.

Small GDP Contraction Signals the Recession is Winding Down

According to a Marcus & Millichap report on the gross domestic product (GDP) from the second quarter of this year, the GDP beat expectations, declining at a far more modest rate than preceding quarters.  While the report shows that the ecomony is still contracting, the recent data suggests that the recession is nearing an end and recovery could begin to take shape in the coming months.  The GDP fell at an annualized rate of one percent in the second quarter compared to 6.4 percent in the first quarter of this year and 5.5 percent in the fourth quarter of 2008.