Each year, Nevada Business Magazine compiles data comparing Nevada to other states and to U.S. averages. A big part of these annual exercises is tracking how the state responds to the ups and downs of economic cycles. However, assessing the damage done by the economic fallout of the COVID pandemic is rather like taking stock after a Category 5 hurricane. Although the sun is … [Read more...] about How Nevada Stacks Up
Features
Industry FocusBankers
As the pandemic took its toll on businesses throughout Nevada, bankers were called upon to implement the Paycheck Protection Program (PPP), a loan program intended to provide American small businesses with cash flow. They did so efficiently while also overcoming new challenges to banking arising from a myriad of sources. Recently, bankers met in a virtual roundtable, hosted by … [Read more...] about Industry Focus
Healthcare Heroes2021
Corporate Sponsor It means the world to us to provide care to the communities where we live and work. At Southwest Medical, part of Optum Care, it’s something we have been doing for nearly 50 years. Across each passing decade, the health and well-being of our patients, our community and our team members continues to be our top priority. We want to see patients stay … [Read more...] about Healthcare Heroes
A Place to Call HomeNevada’s Residential Housing Market
In southern Nevada, between 13,000 and 14,000 new home permits have been pulled in 2021, up 11 percent from 2020, said Nat Hodgson, CEO, Southern Nevada Home Builders Association (SNHBA). “We thought we were going to get about the same as last year, so an 11 percent increase when we were factoring zero is pretty good. We’re actually tracking over 14,000 right now, but I don’t … [Read more...] about A Place to Call Home
Women to Watch 2021
Over Nevada’s diverse business landscape stands a group of women who have served as mentors, change agents and influencers for their communities. These women have proven time and again that limits can be pushed and determination is essential to a successful career. The 2021 class of Women to Watch represent this classification of female business executive. They’ve stood through … [Read more...] about Women to Watch 2021
Investment StrategiesA Guide for Business Owners
One of the top questions for business owners looking for solid investment strategies is: “Why are you in business?” That question, said Brian Loy, president, Sage Financial Advisors, applies both to why business owners get out of bed in the morning, and to one of the reasons for running a business; to make money. The answer to the question becomes one of the three legs of a … [Read more...] about Investment Strategies
Higher EducationA Cornerstone of Nevada’s Recovery
Nearly 20 years ago, economic development officials in Nevada wondered what the state could do to attract employers in the fast-growing biotechnology sector. Industry officials told them flat-out that Nevada simply didn’t have the skilled professional workforce to support biotechnology companies. Flash forward to this spring, when StemExpress announced plans to launch a … [Read more...] about Higher Education
Industry FocusGovernment
From red tape to oversight committees, government agencies often have more challenges than private enterprise when trying to improve or change processes. They are working with taxpayer dollars and fiscal responsibility is an imperative. Recently, executives from government agencies in Nevada met in a virtual roundtable, sponsored by City National Bank, to discuss their … [Read more...] about Industry Focus
Safety on the JobResponsibilities on Site
Construction as an industry, including commercial real estate construction, is subject to safety rules and regulations from federal and state agencies. Federal requirements are implemented by the Nevada version of OSHA – the Occupational Safety and Health Administration, which operates under the U.S. Department of Labor. Nevada’s state-level OSHA is administered through the … [Read more...] about Safety on the Job
Bank of Nevada – Preparing Your Business Exit StrategyAdvice from the Experts
While some members of the baby boomer generation are already retired, many more among this demographic are expected to retire in the next several years. Baby boomers are born between 1946 and 1964 and are currently between 57 and 75 years of age. Since many baby boomers are also business owners, some estimates expect the rate of business sales to increase in the next five … [Read more...] about Bank of Nevada – Preparing Your Business Exit Strategy
First Independent Bank – Preparing Your Business Exit StrategyAdvice from the Experts
While some members of the baby boomer generation are already retired, many more among this demographic are expected to retire in the next several years. Baby boomers are born between 1946 and 1964 and are currently between 57 and 75 years of age. Since many baby boomers are also business owners, some estimates expect the rate of business sales to increase in the next five … [Read more...] about First Independent Bank – Preparing Your Business Exit Strategy
Restarting TechnologyThe Future Flickers Into View
Faced with a bulky office computer, any technician worth their salt begins by telling the frustrated user to try turning the computer off, then back on again. But how will that strategy work when it’s the entire tech economy that’s turned off, then back on again, as the COVID-19 pandemic begins to wane? The screen is flickering to life, and while the picture of the … [Read more...] about Restarting Technology
Mining for TaxesRaising State Revenues in Nevada
It is well known that any debate in the Nevada Legislature over raising mining taxes has been a controversial topic since prospectors first struck gold in the 19th century. Previous efforts to raise the tax or reduce the ability of companies to deduct net proceeds have come up short. Opponents have argued successfully that any increase in the tax rate would severely … [Read more...] about Mining for Taxes
Industry FocusResidential Brokers
Nevada’s housing market has seen a boom in the past year as sellers receive multiple bids above asking price and buyers scramble to find homes within their budget. Caught in the middle are residential brokers who had to find new ways to show homes in the pandemic and help their customers navigate the hectic marketplace. Recently, residential brokers met in a virtual roundtable, … [Read more...] about Industry Focus
Southern Nevada CCIMWrite the Next Chapter
The commercial real estate industry is constantly changing. Navigating and thriving in that world requires expertise, education, stability and knowledge. Certified Commercial Investment Members earn their designation as CCIMs through extensive and ongoing education, and submission of a portfolio of real-world deals. Before they ever guide a client through a transaction, … [Read more...] about Southern Nevada CCIM
Commercial Real Estate FinancingNavigating a Post-Pandemic Market
Fickle – that’s one word to describe the commercial real estate market as the COVID-19 pandemic winds down and the accompanying economic development downturn looks likely to take 18 to 24 months to resolve. For individuals or companies wanting to buy or build commercial real estate (CRE) properties, there’s money available – for the right person, with the right deal … [Read more...] about Commercial Real Estate Financing
Tiny Homes May Be the SolutionTo the Affordable Housing Problem
By Melissa Eure, president of G.C. Garcia, Inc. Housing attainability is a discussion item in Nevada as well as many other states. Factors such as the high price of land, limited supply, cost of regulatory approvals for zoning, increasing costs of building supplies and an ever-decreasing number of laborers makes affordable housing seem unobtainable. Recently, the Nevada … [Read more...] about Tiny Homes May Be the Solution
High ReturnsInvesting in People Pays Dividends for Vegas Lawyer, International Firm
In 1987, I read an article in the New York Times about Eugene Lang, a millionaire who told sixth-grade students in East Harlem that he would fund their college education if they stayed in school. Immediately, I wrote Mr. Lang to see how I might support his mission. A year and a half later – somewhat to my surprise – Eugene landed in Las Vegas and contacted me. As a result of … [Read more...] about High Returns
Summerlin Landscape Conversion Projects Save WaterBy Replacing Decorative Grass
For the past 30 years, the master-planned community of Summerlin® has set high standards for urban and residential development. A development of The Howard Hughes Corp.® (HHC), Summerlin is again leading by example as it creates a more sustainable, water-efficient community by replacing more than 120,000 square feet of grass along Summerlin Parkway and at residential community … [Read more...] about Summerlin Landscape Conversion Projects Save Water
Legal Elite 2021The Silver State’s Top Attorneys
Now in its fourteenth year, Legal Elite is an annual list showcasing Nevada lawyers. These attorneys represent the best of the best and have been recognized by their associates for their work and dedication to the legal field. Polling began in mid-February of this year and several thousand nominations were submitted by licensed attorneys in the state. Each submission then went … [Read more...] about Legal Elite 2021