EDAWN Reports Record Companies and Jobs
For the second consecutive year the Economic Development Authority of Western Nevada (EDAWN) has reported a record number of new and expanding companies, representing an economic impact of nearly $267 million to the region during the fiscal year ending June 30, 2005. The 40 companies that moved to or expanded in Northern Nevada is double the 20 companies EDAWN reported last year. EDAWN’s 2004-05 business report shows that the $267 million represents 29 new companies, 10 expansion projects and one retention project. The 40 companies generated 2,022 new jobs in the region – a 38 percent increase over the 1,470 new jobs created in 2003-04. Manufacturing led the types of industry with 22 companies, followed by 12 distribution companies and six tech-service companies. Geographically, the majority of businesses relocated from the West Coast, with California representing 15 companies, followed by six companies from the South and two companies each locating from the Midwest, Northeast and internationally.
BRAC Spares Two Nevada Facilities
The Base Realignment and Closure Commission (BRAC) has decided that two Nevada installations slated for closure by the Pentagon may remain open. The Hawthorne Army Depot and the 152nd Airlift Wing of the Nevada National Guard were spared by BRAC, which was created to review the list of bases and military installations recommended by the Department of Defense (DoD) for closure or realignment. DoD officials had proposed moving munitions currently stored at Hawthorne to Tooele Army Depot in Utah. The BRAC review pointed out flaws in the original report and said it also underestimated the economic impact on Mineral County, which would have lost an estimated 37 percent of its jobs if the depot closed. The Pentagon had also proposed sending the eight Nevada Air National Guard C-130 planes currently based at Reno-Tahoe International Airport to Little Rock, Ark. The planes will be allowed to stay to provide support for homeland security and emergencies, such as floods and wildfires.
Loews Hotels Planning Nevada Venture
Lake Las Vegas Resort recently announced that Loews Hotels will build its first hotel in Nevada at the master-planned resort in Henderson. The $200 million Loews Lake Las Vegas Resort will have an estimated 400 rooms and will feature 40,000 square feet of meeting space, two restaurants, two bars, two outdoor pools and a 20,000-square-foot spa. It will be situated on a 15-acre parcel near the 18th green of the Reflection Bay Golf Club, and will feature a white-sand beach on the 320-acre manmade lake. The project will also include a large exhibit center to accommodate meetings and conferences. Groundbreaking is scheduled for 2006, with a grand opening slated for 2008. Hill Glazier Architects, Inc. has signed on as the architectural firm. In staying with the resort’s theme, the Loews Lake Las Vegas Resort will feature Mediterranean architecture.
Sprint Nextel to Focus on Wireless
Sprint Corp. completed its purchase of Nextel Communications in August, forming a new company called Sprint Nextel Corp. The new company has applied to the Public Utilities Commission for approval to spin off its land-line operations in Nevada to another company called LTD Holding Co., allowing Sprint Nextel to focus on wireless services. LTD would take over the 900,000 phone lines in Southern Nevada that had been operated by Sprint before the merger. It would continue to provide long-distance services and other telephone products. Lou Emmert, vice president and general manager of Sprint, would continue in charge of LTD’s land-line operations. Sprint Nextel currently employs over 1,000 people in Southern Nevada.