In April of 2020, with all nonessential businesses closed, unemployment in southern Nevada stood at just over 31 percent; in northern Nevada it was more than 18 percent. By December 2020 Las Vegas had dropped to 12.2 percent and Reno to 5.8. Put simply, that is the effect of diversifying the economy, a process that Nevada’s development authorities have built on experience from … [Read more...] about Nevada Governor’s Office of Economic Development
Mike Kazmierski
Economic Development in NevadaOpportunities and Obstacles
Economic development has been scaling up in recent years, working to diversify into a more stable state economy. “We work with all the regional development authorities,” said Bob Potts, deputy director, Governor’s Office of Economic Development (GOED). “They get state funding from us, and we contract with them for the scope of work.” GOED works the legislative and policy … [Read more...] about Economic Development in Nevada
Multifamily in NevadaDemand Outspaces Supply
Nevada continues to be one of the fastest growing states in the nation. The downside to population growth is the inability of the multifamily commercial real estate market to keep up with demand for space, leading to rising rents and increased values for buildable land. “From a housing perspective, apartments, condos and housing, right now there is a significant shortage of … [Read more...] about Multifamily in Nevada
Closed:The Great Resignation and Workforce Development
In August, 4.3 million U.S. workers quit their jobs, according to Department of Labor (DOL). Food services lost 892,000 workers, 721,000 employees quit the retail industry and even more workers left education and healthcare. The start of the pandemic saw record high unemployment and by July 2021 the United States hit another record high – 11.1 million jobs … [Read more...] about Closed:
Industry FocusEconomic Development
The importance of a diversified economy has never been clearer than in the aftermath of the COVID pandemic. Economic development agencies have an important role to play in bringing companies to Nevada and helping create that diversification. Recently, executives representing this industry met in a virtual roundtable, sponsored by City National Bank, to discuss these vital … [Read more...] about Industry Focus
Economic Development in the Time of COVID-19Diversify, Grow, Survive or Thrive
“Before March 2020, Nevada led the country in producing new jobs,” said Jonas Peterson, president and CEO, Las Vegas Global Economic Alliance (LVGEA). “Our economic development plan was working, and our economy was consistently becoming more diverse.” Across the state, manufacturing, logistics, distribution, technology and healthcare sectors were growing. In February, Nevada’s … [Read more...] about Economic Development in the Time of COVID-19
Industry FocusEconomic Development
The economy is constantly changing and, there are many factors at play when it comes to determining economic health. Thankfully, according to economic development leaders, Nevada is in a position to create positive outcomes. Recently, executives representing economic development in the Silver State met at the Las Vegas office of City National Bank to discuss Nevada’s future. … [Read more...] about Industry Focus
Business Roots: Nevada’s Economic Development History
The Silver State has a unique origin story. Despite being much less economically viable and populated, Nevada beat out the other territories to become a state in 1864 because of its Republican and pro-Union leanings. President Abraham Lincoln fast-tracked the process, surpassing Congress, to ensure ultimately three electoral votes for his re-election and bolster Republican … [Read more...] about Business Roots: Nevada’s Economic Development History
Kylie Rowe Appointed to EDAWN Board of Trustees
Reno – Kylie Rowe, Vice President of Relocation at Dickson Realty, has been appointed to the Economic Development Authority of Western Nevada’s (EDAWN) Board of Trustees. Rowe will bring her millennial perspective to the Board, as well as her experience with entrepreneurship. Rowe’s community impact spans across the University of Nevada, Reno and within Reno’s … [Read more...] about Kylie Rowe Appointed to EDAWN Board of Trustees
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...] about Executives Weigh In: Power Poll 2017
Economic Forecast 2016: Increasing Stability and Growth
According to analysts, Nevada’s economy will continue to show improvement in 2016, but with a few new wrinkles thrown in. Rising wages will mean more disposable income, which in turn boosts consumer spending. Job creation, described as the single best indicator of economic growth, is expected to add more than 52,000 workers to company payrolls this year, according to the Nevada … [Read more...] about Economic Forecast 2016: Increasing Stability and Growth
Unmanned Aerial Vehicles: Cultivating a New Industry in Nevada
Seeking to benefit from the anticipated, widespread commercial use of the unmanned aerial vehicle (UAV) nationwide, Nevadans have been working diligently to cultivate an industry around this type of aircraft. Integration of unmanned aerial vehicles into the U.S. would create more than 100,000 jobs and have an economic impact of $82 billion nationally by 2025, estimated the … [Read more...] about Unmanned Aerial Vehicles: Cultivating a New Industry in Nevada
Game Changers: Economic Development in Nevada
Nothing paints a clearer picture of the results of economic development than the Silver State. Nevada has transitioned from a state with the highest unemployment rates in the country to a state welcoming Tesla to its economy, breaking ground on a 12,000-home master planned community, launching one of the first-of-its-kind interactive medical communities with Union Village and … [Read more...] about Game Changers: Economic Development in Nevada
A Future of Change: Economic Development
Nevada, because of its narrow focus on three industries, was devastated by the recession and eventually led the nation in foreclosures and unemployment. As both the director of the Governor’s Office of Economic Development (GOED) and a resident of Nevada, Steve Hill believes there is a rising wave of economic development diversifying an outdated and vulnerable economy built on … [Read more...] about A Future of Change: Economic Development
Nevada’s 2014 Economic Forecast: The Way the Wind Blows…
When it comes to fortune telling, nothing is ever certain, but a handful of industry experts share their thoughts on Nevada’s economy in 2014. This year’s predictions offer more good news than has been reported in Nevada Business Magazine’s annual Economic Forecast in the last few years. While most business executives are proceeding with caution, they seem to agree the worst of … [Read more...] about Nevada’s 2014 Economic Forecast: The Way the Wind Blows…