Mirroring the vibrancy of Nevada’s economy, the state’s banking industry is robust, expanding and expected to remain strong throughout 2019, experts said. “It’s a great time to be a bank in Nevada,” said Stan Wilmoth, president and CEO of Heritage Bank of Nevada. Loans and deposits at the Northern Nevada community bank increased about 8 to 10 percent last year, and Wilmoth … [Read more...] about Banking
Cover Story
Living LargeNevada’s Luxury Home Market
In late 2018, a condo in the Waldorf Astoria Las Vegas sold for a record-setting $1,633 per square foot. Despite this being an impressive luxury home record sale, it could be eclipsed if a home listed at Crystal Pointe, Lake Tahoe, sells – that listing is for $75 million. Nevada’s luxury home market is growing. New residents flocking to our state bring with them equity from … [Read more...] about Living Large
The New Generation Gap: Five Diverse Groups
Millennials, Generations Z and X, baby boomers and the traditionalists or silent generation is a diverse list of titles to represent an even more diverse group of people. Today there are five generations in the workforce, each with their own characteristics and commonalities, strengths and weaknesses. The generations differ in work styles, communication styles, what … [Read more...] about The New Generation Gap: Five Diverse Groups
Best Companies to Work for in 2018: Defining the Times
Today’s workplace is changing at a rapid rate due to the wants and needs of the modern employee. From flexible hours to accessible and open leadership, workers in 2018 are demanding more than just money and benefits; they want to be a part of something special. The companies featured in the following pages have managed to create that special environment and offer … [Read more...] about Best Companies to Work for in 2018: Defining the Times
The Drive: Automobiles in Nevada
Automobile sales in Nevada are following the national trend of keeping steady after years of growth. Following seven years of steady, and at times rapid, increases in sales, volume is beginning to flatline and the future is uncertain, according to multiple car dealership executives in Nevada. In the previous eight years, new car sales had grown by an average of 5 percent … [Read more...] about The Drive: Automobiles in Nevada
How We Stack Up 2018
Each year, Nevada Business Magazine collects data comparing Nevada to other states and to past years, tracking economic cycles and delivering a snapshot of what it’s like to live in the Silver State. In the first edition 12 years ago, Nevada was riding high economically, with 4 percent unemployment and the challenge of finding enough workers to fill available positions. Then … [Read more...] about How We Stack Up 2018
2018 Women to Watch
Women are making their voices heard, both in Nevada and across the world. A vital part of the business community, female executives and business owners are impacting and mentoring the next generation of leaders. These women continue to break through the glass ceiling with their drive and determination. Representing a variety of industries, this year’s Women to Watch … [Read more...] about 2018 Women to Watch
Healthcare Check-Up: Nevada’s Hospitals
Nevada’s population is growing as new businesses locate in the state, and existing businesses expand. As the population increases, it’s also shifting. Along with the rest of the nation, the state’s population is aging. At the same time, with the addition of new and startup businesses, millennials are locating within the state. To meet the different needs of varying … [Read more...] about Healthcare Check-Up: Nevada’s Hospitals
Legal Elite 2018: The Silver State’s Top Attorneys
Now in its eleventh iteration, Legal Elite presents Nevada’s top attorneys as chosen by their peers. This annual list showcases the attorneys the legal industry has named as the best of the best. Polling for Legal Elite 2018 began at the end of February and nearly 6,000 nominations were submitted by licensed attorneys in Nevada. Each submission then went through an extensive … [Read more...] about Legal Elite 2018: The Silver State’s Top Attorneys
Higher Learning: Education in Nevada
The Nevada System of Higher Education (NSHE) is in the process of becoming a true system as Nevada’s educational climate shifts to meet the needs of Nevada citizens and businesses. Those needs are creating a change from individual institutions working alone to meet those needs to a system of institutions working together. “There’s quite a bit that’s new in higher education,” … [Read more...] about Higher Learning: Education in Nevada
Moving People
“Transportation is one of the highest priorities for the state as far as building industry, being productive and making things happen,”said Dawn Gibbons, chairwoman of the Nevada Transportation Authority (NTA). Highlighting the state’s emphasis on transportation, an 18-month process is currently underway to develop the One Nevada Transportation Plan. It’s a collaboration … [Read more...] about Moving People
Game On: The Business of Hockey in Nevada
Bill Foley manages to get home from a Vegas Golden Knights game at 11:30 p.m., but his head doesn’t hit the pillow until at least 1:30 a.m. “The adrenaline flows,” said Foley, the majority owner of National Hockey League’s newest franchise. “I’ve been in a lot of different businesses in my career and this has been the most enjoyable, entertaining and fun time that I’ve … [Read more...] about Game On: The Business of Hockey in Nevada
Banking on Nevada: Nevada Financial Institutions by the Numbers
Nevada’s Financial Institutions Division (FID) maintains and supervises Nevada’s banking industry. According to FID, the industry is growing stronger. Some of the positive indicators include loan concentrations – those concentrations that indicate what loan growth is, what loan activity is actually taking place, and whether individual banks have too large a concentration in … [Read more...] about Banking on Nevada: Nevada Financial Institutions by the Numbers
Nevada’s Economic Outlook: 2018 Blue Skies Ahead
It’s been a decade since the great recession hit Nevada. As we start the new year of 2018, the state’s economy overall remains in recovery mode, with the majority of related metrics remaining below their peaks in 2006 and 2007. Looking forward, we can expect continued steady, incremental growth of the economy in the Silver State at both regional ends, experts said, which is … [Read more...] about Nevada’s Economic Outlook: 2018 Blue Skies Ahead
The Succession Plan: An Often Overlooked Necessity
When asked the significance of a company succession plan, experts were united when they explained the absolute necessity of a good plan. “[Succession planning] may be the most important thing for a business and it is for sure the thing that is done less well,” said Carl Rowe, founder and senior consultant of Clarity Advisors to Management, which provides solutions to … [Read more...] about The Succession Plan: An Often Overlooked Necessity
Transformers: Retailers Change Tactics
To attract a new generation of shoppers and keep up with competition from online retailers, Nevada shopping malls are transforming into “mixed-use lifestyle centers” and encouraging their tenants to profit from online shopping instead of fighting it. Their tactics seem to be working, as mall owners report record numbers of shoppers and few vacancies. Malls’ success … [Read more...] about Transformers: Retailers Change Tactics
Nevada Strong: The Impact Of The Armed Forces In The Silver State
The U.S. Armed Forces are doing work in Nevada that’s critical to the defense and security of the nation and the state — training pilots, testing drones, fighting overseas remotely, storing munitions and helping battle fires, to name a handful. The numerous installations throughout the Silver State — those of the National Guard, Air Force, Navy, and Army — contribute to the … [Read more...] about Nevada Strong: The Impact Of The Armed Forces In The Silver State
Taking Nevada to the World: Globalization and Nevada’s Place in the International Market
Dublin, Ireland, Santiago, Chile, Poland and Germany are just some of the places you can buy Nevada-made items. Nevada products aren’t just for Nevadans anymore and Nevada companies aren’t just thinking local – they’re taking their products around the world. At the same time, foreign companies are looking to operate in Nevada, bringing new jobs to the state. “Nevada … [Read more...] about Taking Nevada to the World: Globalization and Nevada’s Place in the International Market
The Silver State & So Much More: Mining in Nevada
Nevada has been known as “The Silver State” since it entered the Union in 1864, but these days, it’s equally famous for gold, lithium, molybdenum and a host of other minerals. Nevada has 119 mines, located in every county except Douglas, and even has six producing oil fields. Mining represents a vital component of the state’s economy. Its total economic output in 2015 … [Read more...] about The Silver State & So Much More: Mining in Nevada
Healthcare Checkup: Employers and Health Insurance in Nevada
When it comes to health insurance in Nevada’s employer market, the past year has seen some small changes and developing trends. What the industry looks like in the future, however, remains uncertain as the American Health Care Act of 2017 remains pending in the U.S. Senate. When it comes to health insurance in Nevada’s employer market, the past year has seen some small … [Read more...] about Healthcare Checkup: Employers and Health Insurance in Nevada