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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
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...]
Legal Elite 2017: Nevada’s Top Attorneys
This year marks Legal Elite’s tenth year of presenting Nevada’s top attorneys. The annual list showcases attorneys whose peers have named them amongst the best of the best. The list has come a long way since it’s inaugural issue in June 2008. Since it’s inception, the voting process has become more streamlined and each year more and more attorneys participate in the … [Read more...]
Beyond The Basics: Education in Nevada
Education is critical to Nevada’s workforce, economy and lifestyle. But Nevada’s public education ranks at or near the bottom of national rankings, and only 30 percent of Nevadans hold post-secondary education degrees or certificates. In the K-12 system, rankings are created from more indicators than simply academic, according to Traci Davis, superintendent, Washoe … [Read more...]
Slow & Steady: Economic Development in Rural Nevada
From McDermitt and Montello in the north to Laughlin in the south, Nevada’s rural cities struggle to foster economic development but desperately need it. Each locale differs, in terms of primary economic sectors, natural assets and location for instance. However, common themes have been for some, and continue to be for others, dilapidated downtowns, struggling businesses and … [Read more...]
Executives Weigh In: Power Poll 2017
Most executives would agree, 2016 saw a boost to industry across the Silver State. From call centers and manufacturers to new sports teams and residential and commercial development throughout the state, Nevada is on the rise. This boom in industry is also prompting many business leaders to question when the other shoe will drop. “Cautiously optimistic” has been the phrase … [Read more...]
