Nevada’s rural areas often get outshone or out-reported by their larger urban counterparts, which is an oversight for at least two reasons. One, the state is primarily rural, defined by statute as cities and towns with a population under 150,000 people. Second, the rural regions warrant mention in their own right regarding business and economic development, as many are doing … [Read more...] about Spotlight on Rural Nevada
Feature Story
How About Now?Exit Planning
Business owners have an exit strategy issue. There’s a consensus among exit planning professionals that their clients often don’t think about their plans until it’s too late. “It’s one of those things, like an estate plan, that everyone knows they should do but it’s easy to put off,” said Shawn Pearson, an attorney at Woodburn and Wedge in Reno. “It’s like exercising and … [Read more...] about How About Now?
2019 Economic Forecast for NevadaUpward Trends
According to experts, the outlook for Nevada’s economy this year is positive and projected to fare at least as well as it did, or perhaps even better, in 2018. However, one or more known or unknown wild cards could have a dampening effect. Some of the indicators that support the forecast in Southern Nevada include strong employment and population growth, robust consumer … [Read more...] about 2019 Economic Forecast for Nevada
Tax Changes: What Nevada Companies Need to Know to Benefit
To fully realize available tax benefits resulting from the Tax Cuts and Jobs Act of 2017 Nevada businesses should assess, plan and, if necessary, make changes, now. “My best advice is run some projections on your income right now. See if you run into any problems or limitations on being able to maximize deductions, and look at what you need to do to restructure to make sure … [Read more...] about Tax Changes: What Nevada Companies Need to Know to Benefit
The Business of Credit Unions: The “Own-Your-Own” Financing Institution
“Credit unions have a different structure and business model than banks do, but they’re still depository institutions, so safe and sound is still safe and sound,” said George Burns, commissioner, Nevada Financial Institutions Division (NFID). They’re also the largest state-chartered, locally owned financial institutions in the state, according to Matt Kershaw, CEO, Clark … [Read more...] about The Business of Credit Unions: The “Own-Your-Own” Financing Institution
Medical Education in Nevada: Progress Made, Long Way to Go
Great strides in expanding medical education in Nevada have been made in the past few years. Yet the effects have been minimal so far and won’t kick in until years in the future. In addition, much more work needs to be done, experts said. “[Medical education] is improved and has a long way to go,” said Shelley Berkley, CEO and senior provost of Touro University’s … [Read more...] about Medical Education in Nevada: Progress Made, Long Way to Go
Guarding Business: Cybersecurity in Nevada
Earlier this year, the malware program VPNFilter infected hundreds of thousands of office and home routers and networked devices around the world. The cities of Atlanta and Baltimore experienced ransomware attacks, the latter causing the 911 dispatch system to be offline for 17 hours. Confidential data were breached at numerous companies—Adidas, Dignity Health, Honda, LabCorp, … [Read more...] about Guarding Business: Cybersecurity in Nevada
Something for Everyone: Tourism in Nevada
Nevada is still finding its place in the modern tourism world, but that isn’t hurting tourism numbers. Fiscal year 2018 was a turbulent year for tourism, in Las Vegas especially, but the year still set records and showed no signs of slowing down. Statewide, shifting consumer interests and demands and diversifying economies are helping drive continued strong tourism … [Read more...] about Something for Everyone: Tourism in Nevada
Creating a Brand: Business Marketing 101
When starting a business many think coming up with a name, developing a logo or even crafting a slogan or catchphrase is the extent of branding. The reality is, there is so much more. “It’s a mistake to think, ‘My brand is my graphic identity,’” said Flip Wright, executive vice president of strategy and innovation at Wide Awake. “That’s a very small part of the overall mix. … [Read more...] about Creating a Brand: Business Marketing 101
The Business of Art: Nevada’s Cultural Scene
Twenty years ago, Nevada’s arts and culture sector was not a huge economic driver. Organizations were forming. Audiences were being sought. “There’s a group of us in this community, and in Reno, too, who all started out on the ground level, and there’s been this evolution of arts and culture [in the state],” explained Jeri Crawford, president and CEO of the Las Vegas … [Read more...] about The Business of Art: Nevada’s Cultural Scene
Wealth Management: Setting and Obtaining Financial Goals
Short and long-term financial goals for CEOs, other executives and business owners might include buying a home, putting their children through college, retiring at a certain age or leaving a legacy, perhaps their business, to their heirs. It’s important for high net worth people to determine now what they’d like to achieve, develop a plan to reach their goals, write it down and … [Read more...] about Wealth Management: Setting and Obtaining Financial Goals
The Insured State: Health Insurance in Nevada
Businesses can expect health insurance costs to continue to rise in the short term, but stabilization might be in sight. Nevada health insurance executives suggest a number of factors could indicate relief for businesses when it comes to health insurance costs in the long-term future. Following years of negative reaction to the Affordable Care Act (ACA), signed into law in … [Read more...] about The Insured State: Health Insurance in Nevada
Perspective Shifts: Power Poll 2018
Last year was a year of change in many ways, especially in the Silver State. With mid-term elections coming up in November and a changing of the guard in the Governor’s office, this year will shake up the status quo even more. As Nevadans look at the economic progress made since the downturn, executives on both ends of the state are hopeful. “I’ve been doing this for a long … [Read more...] about Perspective Shifts: Power Poll 2018
The Communications Landscape: Connectivity in Nevada
Nevada companies want to be more efficient, expedient and cost effective, and so, they’re demanding more and more out of the available technologies for communicating. Firms providing those continue to develop and offer related products and services that enhance businesses’ connectivity to not only people but, also, objects. “It’s a brave new world,” said Jace Barbin, the … [Read more...] about The Communications Landscape: Connectivity in Nevada
Wages and the Worker’s Market: Nevada Staffing
Nevada’s employment landscape is one with numerous available jobs but an insufficient number of qualified people to fill them, experts said. “It’s an employee’s market,” said Peggy Walker, referring to Northern Nevada. “If somebody’s not working, there really is no excuse. They’re able to pick and choose.” At the same time, she said, “there are not enough skilled workers.” … [Read more...] about Wages and the Worker’s Market: Nevada Staffing
Legal Concerns: Law Firms Today
Lawyers have always served as society’s designated worriers, but Nevada’s legal practitioners seem to be wringing their hands a little more than usual these days for several reasons. While the resurgent state economy is creating lots of opportunities, a strong economy also creates its own set of challenges. Lawyers worry about the arrival of big competitors from out of … [Read more...] about Legal Concerns: Law Firms Today
Credit Unions: The Growth of Financial Cooperatives
Even in an era filled with bright economic statistics, the mid-year report from the Credit Union League of Nevada stood out. The industry group reported that credit union deposits in Southern Nevada rose by 8 percent year-over-year while total loans were up 10 percent. In booming Northern Nevada, mid-year deposits rose 12 percent over year-earlier numbers and loans … [Read more...] about Credit Unions: The Growth of Financial Cooperatives
Generation Innovation: Technology Advances Nevada Economy
New, existing and relocating technology companies are making Nevada home in both metro and rural areas, bringing innovation across the board. So far, specific technology clusters have not developed. Nevada is seeing everything from bioscience to construction and telecommunications to entertainment. “In a lot of cities you have a sector that’s doing well or a place where it’s … [Read more...] about Generation Innovation: Technology Advances Nevada Economy
The Full Focus: Economic Development in Nevada
In 2012, The Silver State released “Moving Nevada Forward: A Plan for Excellence in Economic Development,” a three-year roadmap for continuing to advance from post-recession doldrums and a 12 percent unemployment rate toward “a vibrant, innovative statewide economy,” Gov. Brian Sandoval wrote in the document. Since the plan was released, Nevada’s leadership and … [Read more...] about The Full Focus: Economic Development in Nevada
Nevada’s Place Among the States 2017
Each year, “Nevada’s Place Among the States” compares Nevada to other states, competing markets and the U.S. in general, on several key measures of economic and social health. In this 11th edition of comparing Nevada to other states, statistics show that Nevada has almost fully recovered from the recession. At one point, the Silver State led the nation in foreclosed homes and … [Read more...] about Nevada’s Place Among the States 2017