Nevada Businesses Receive Tourism Awards
The Saddle West Hotel, Casino and RV Resort in Pahrump was among 33 recipients of 2005 Tourism Development Awards, given by the Nevada Commission on Tourism for enhancing local visitor attractions and amenities. The rural resort organized a Wild West festival that drew 5,000 visitors to Pahrump. Among winners in other areas of the state, Corley Ranch in Gardnerville received an award for creating a Harvest Festival Extraordinary, and the Historic Front Street Metropolis project in Wells was honored for producing a walking tour and history book, a Cowboy Country ghost town book and billboards promoting Front Street and the ghost town of Metropolis.
SBA’s Nevada District Office Ranks First
The U.S. Small Business Administration’s (SBA) Nevada District Office was ranked first in the nation among 68 district offices in a three-way tie with San Diego and Los Angeles for the fiscal year ending September 30, according to SBA District Director John Scott. During fiscal year 2005, the Nevada SBA office approved 883 loans for $256.3 million, as compared to fiscal year 2004 with 807 loans for $201.1 million and fiscal year 2003 with 750 loans for $143.9 million. The Nevada SBA office set new statewide records in loans to African Americans (42), Hispanic Americans (82), Asian Americans (97), Native Americans (9) and women (193).
ORMAT Technologies Named “Distinguished Business of the Year”
ORMAT Technologies, Inc., was recognized as the “Distinguished Business of the Year” at the 21st Annual Governor’s Industry Appreciation Awards for Northern Nevada. ORMAT is one of 27 companies that received recognition for moving into or expanding in Northern Nevada. Since moving its corporate headquarters from the East Coast to Sparks, it has become the third largest geothermal power plant operator in the United States and a leading supplier of geothermal technology and equipment worldwide.
Assisted Living Community Sold
American Retirement Corporation recently announced it has completed the acquisition of EPOCH Assisted Living of Las Vegas, one of eight assisted living communities in six states acquired in the transaction. The purchase expands American Retirement Corporation’s reach from 15 states to 19 states nationwide. The Las Vegas facility has been renamed The Heritage Club of Las Vegas. It will continue to provide assisted living and Alzheimer’s care services, as well as short-term respite care stays. American Retirement Corporation now operates 42 assisted living communities and 34 retirement communities that provide independent living residences along with other levels of care.
Design District Slated for Reno
Developers International Real Estate and Lanier One LP have announced plans to break ground during the second quarter of 2006 for the 20-acre Reno Design District, located off Highway 395 in south Reno near the Barnes and Noble Distribution Center. The new retail center will feature more than 250,000 square feet of fine furniture, home accessory and home improvement showrooms and retail stores. Flooring, bathroom, window, furniture and specialty tile retailers are being courted as future tenants. The development will also include casual dining and coffee shops. Designed by WM Architects Nevada, Inc., the Reno Design District plans to open its doors during the first quarter of 2007.
Nevada Welcomes New Companies
Nevada Commission on Economic Development (NCED) awarded more than $200,000 in incentives to three new companies coming to Nevada at its December commission meeting. Eclipse Design and Materials, Inc. develops and manufactures solid-state, high-energy storage devices such as ultra-capacitors and batteries. The 10-year-old research and development company moved to Minden (Douglas County) earlier this year from Utah to take advantage of the “improved labor force and the general business growth trends in the state.” Builders Choice, Inc., a manufacturer of wood roofs and floor trusses for residential and commercial buildings, selected Silver Springs in Lyon County as the site for its new state-of-the-art wood truss manufacturing facility, expected to break ground in spring 2006. It is expected to bring more than 300 jobs to the county when its 29-acre facility is fully operational. InfoGenesis, Inc. will move its headquarters from Santa Barbara, Calif. to Las Vegas, with plans to create 60 jobs in Southern Nevada. InfoGenesis provides the tourism industry with customer demographics. At the same meeting, NCED awarded tax abatement to Sherwin-Williams, the largest producer of paints and coatings in the United States, for its expansion in Lyon County.
Bank of America Plaza Sold
Basin Street Properties, a Northern California developer of commercial and mixed-use properties, has acquired downtown Reno’s Bank of America Plaza, now called 50 West Liberty, for $34.6 million. The acquisition of the Class A, 12- story office tower marks Basin Street’s entry into the Reno market. With a connecting four-story building and parking structure, the complex consists of 248,000 square feet of office space. Current tenants include Bank of America, Deloitte & Touche, Lionel Sawyer & Collins Ltd., New York Life and HMC Architects. “Reno is in the midst of a major revitalization effort and this project is poised to help shape the city’s future,” said Matt White, president of Basin Street Properties. “Basin Street’s goal is to position the building as a contributing influence to the downtown core by adding ground floor retail that will provide our tenants and the surrounding community with convenient access to local amenities.”