Lake Mead Hospital Changes Hands
IASIS Healthcare Corporation purchased Lake Mead Hospital Medical Center in North Las Vegas in a $25 million deal effective Feb. 1, 2004. IASIS, located in Franklin, Tenn., is a leading owner and operator of medium-sized acute-care hospitals in high-growth urban and suburban markets. With the addition of the 198-bed hospital, IASIS Healthcare owns or leases 15 acute-care hospitals with a total of 2,222 beds in service. The facility was purchased from a subsidiary of Tenet HealthSystem. The hospital is expected to remain open during the transition, and IASIS has announced it plans to invest more than $13 million into the facility, expanding services, including ambulatory surgery and obstetrics, and upgrading technical components such as ultrasound and MRI equipment.
Mt. Rose-Ski Tahoe To Expand
After years of working with the Humboldt-Toiyabe National Forest to complete a new master development plan, Mt. Rose-Ski Tahoe is planning to unveil several improvements for the 2004-2005 ski season, including a new six-passenger chair lift in the East Bowl (formerly Slide Mountain). The detachable chairlift will result in high-speed, base-to-summit access to the East Bowl’s 550 acres of blue and black runs, as well as Double Down and Badlands terrain parks. Winter 2004-2005 will also see the opening of new lift-accessed terrain commonly referred to as “The Chutes.” Boasting almost 200 skiable acres and dropping nearly 1,500 vertical feet, this north-facing bowl will add double-black-diamond terrain to the facility. Terrain expansion, including both The Chutes as well as a former “out-of-bounds” bowl on the northwest side of the mountain, will increase the skiable acreage to over 1,200 acres, while the total vertical rise at Mt. Rose will increase to 1,800 feet. Additional future plans include a new East Bowl Lodge and the introduction of top-to-bottom snowmaking at the East Bowl.
Historic Moulin Rouge Purchased
A group of African-American businessmen has purchased the historic Moulin Rouge resort property in Las Vegas for $12.1 million. The Moulin Rouge Development Corp. plans to build a $200 million hotel and casino on the 15-acre property, which opened in 1955 as the first racially integrated hotel in Las Vegas. A succession of owners over the years have attempted unsuccessfully to reopen the property, and the main building was gutted by fire in 2003. Plans call for the building’s façade, neon sign and tower, which survived the fire, to be incorporated into a new 40,000-square-foot casino. The new owners also announced plans for a 500-room hotel, a 117,000-square-foot events center and a museum and cultural center to inform the public about the history of the property, which is listed on the National Register of Historic Places.
Films Bring Nevada Over $104 Million
The Nevada Film Office recently hosted a press conference and awards event in Las Vegas at which Anthony E. Zuiker, creator/executive producer of the television series CSI, received the fifth annual Silver Nitrate Award for his “outstanding contribution to the success and quality of television programming that benefits the citizens and the state of Nevada.” Lieutenant Governor Lorraine Hunt, chair of the Nevada Commission on Economic Development, which oversees the film office, also announced Nevada received filming revenues of $104,440,000 for calendar year 2003 – the fourth consecutive calendar year with revenue numbers surpassing the $100 million mark. Television represented the lion’s share of production activity – approximately 60 percent – followed by commercials, feature films, still photography, documentaries, music videos, corporate/industrial projects, and miscellaneous production encompassing student films and other media.
Washoe Manufacturing to Expand
According to a survey conducted by Business Builders, the business retention and expansion arm of the Economic Development Authority of Western Nevada (EDAWN), Washoe County manufacturing is forecasting positive expansion and job growth over the next three years. The Business Builders phase two report shows that the 61 Reno/Sparks companies surveyed are projecting planned expansion resulting in 1,851 new jobs, 487,000 in additional square footage and $55 million in new capital investment by 2006.
The data supports a recent report by the Washington, D.C.-based Economic Policy Institute indicating Nevada and Nebraska were the only two states that saw the creation of higher-paying jobs, such as in manufacturing and technology, since 2001. Nevada gained 1,940 manufacturing jobs from January 2001 to October 2003, for a total of 43,600 manufacturing jobs or a 4.5 percent increase. The survey conducted from October 2003 to January 2004 asked manufacturing companies open-ended questions about the community’s strengths as a place to do business. The top three strengths mentioned most often were: central location to the West Coast; good tax environment and cost of living; and positive workforce and educational system. The companies cited a lack of a qualified workforce and better planning and vision as areas needing improvement.