Bankruptcies might not be hitting Nevada as hard as they were during and immediately following the Great Recession, but they’re still impacting the state’s economy. At the height of the recession’s bankruptcy fallout in 2009, 60,837 businesses filed in the U.S., according to the American Bankruptcy Institute (ABI). That number was down to 22,232 in 2018, the last full year … [Read more...] about Everything Must Go
Feature Story
Banking on NevadaA New Decade is Dawning
The economy and the banking industry mirror each other, and both are doing well in Nevada as the new decade begins. “We have one of the best economies in the country as measured by employment growth and in-migration, all those key metrics that we watch so closely, those are really strong right now. That generally means that the banking industry’s going to do … [Read more...] about Banking on Nevada
From Seed to SaleNevada’s Cash Crop Cannabis Industry
Adult recreational use was legalized in 2017 after voters approved the 2016 Ballot Question 2, Initiative to Regulate and Tax Marijuana. On January 1, 2017, adults in Nevada could purchase up to one ounce of marijuana from legal dispensaries. The regulatory authority changed to the Nevada Department of Taxation under Chapter 453D of Nevada Revised Statutes (NRS). In August … [Read more...] about From Seed to Sale
Credit UnionsCommunity Banking
As banks continue to consolidate and grow as national corporations, credit unions likewise continue to provide financial connections to local communities. Clark County Credit Union President and CEO Matt Kershaw said the philosophy of “people helping people” has propelled state-charted credit unions to be the largest group of locally-owned financial institutions in Nevada. … [Read more...] about Credit Unions
Minority Owned Businesses in NevadaLeveling the Playing Field
Nevada is open for business. The state is considered business friendly, and that goes for international corporations and small minority owned businesses equally. “With my business, one of the things I observed is that Nevada is truly open for business, whether you are a minority or any other ethnic type of individual doesn’t make any difference,” said Bob Daniel, owner, … [Read more...] about Minority Owned Businesses in Nevada
Nevada MiningContinued Transition Into High-Tech
Imagine if mining companies could send an unmanned aerial vehicle, instead of a person, into a dark, narrow underground area to document the landscape or the scene following an industrial accident. Well, the Autonomous Robots Labs (ARL) at the University of Nevada, Reno is developing the technology for autonomous aerial robots to do just that, to explore, survey, map and … [Read more...] about Nevada Mining
Technology’s RoleIn Nevada’s Economy
A diverse economy is stronger than one based on only one or two industries. Traditionally, Nevada’s economic foundations have depended on mining and travel, tourism and hospitality. When the last recession hit even the hospitality industry, a serious move to diversify the economy began. “The biggest impetus that started everyone down the path of the new innovations and … [Read more...] about Technology’s Role
Investment StrategiesA Look at Today’s Market
While every investor should have their own financial goals and strategies to achieve those goals, 2019 is proving to be a solid year for most of those goals. Investment advisors are quick to recommend investors meet with advisors to best analyze their long-term and short-term financial goals and build those strategies, but that advice doesn’t change the general rules of … [Read more...] about Investment Strategies
Moving Goods from A to BNevada’s Logistics Industry is Strong
When imported merchandise arriving on the West Coast can’t be sold due to some type of problem, such as incorrect labeling, loose threads, minor damage and the like, Quality Corrections & Inspections (QCI), a company with a base in Henderson, resolves the issue, quickly returning the merchandise to first quality and the supply chain. In doing so, QCI mitigates the potential … [Read more...] about Moving Goods from A to B
Taxes and NevadaThe Give and Take
The Nevada State Legislature kept the business community waiting until the end of the 80th legislative session last month. On June 3, the last day the legislature was in session and on deadline, the Senate and Assembly passed several key bills that will affect taxes for years to come and kept some taxes on businesses from expiring. These actions are cause for … [Read more...] about Taxes and Nevada
Adaptive TrainingWorkforce in Nevada
Numerous factors are contributing to today’s dynamics of workforce training in Nevada—the approach, the offerings and the delivery—which continue to evolve to meet the needs of employers and employees. The Silver State keeps creating jobs at a record pace, the fastest in the United States for the sixth consecutive month as of the end of March 2019. Then, the year-over-year … [Read more...] about Adaptive Training
Power PollNevada: Under New Management
After the November 2018 election, Nevada saw a regime change in Carson City. The Silver State has a new governor and legislators, several of whom are inexperienced. This has led to a difficult legislative session which, many have said, has been more contentious than is typical. “We’re way behind,” explained Senator Keith Pickard, a republican member of the Nevada Senate … [Read more...] about Power Poll
Protecting Your Intellectual PropertyLaw Practices Booming
Ask an attorney who specializes in intellectual property (IP) law just about any question, and the answer is likely to be the same. Should a company file for a patent? It depends. Should a business file for an injunction to stop unauthorized use of a trademark? It depends. But one question isn’t getting the stock answer these days. How’s business for intellectual property … [Read more...] about Protecting Your Intellectual Property
Spotlight on Rural NevadaA Snapshot of the Silver State’s Frontier
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
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