Organization to receive initial investment of $200,000 to help encourage students to pursue STEM-related careers LAS VEGAS — Jobs for Nevada’s Graduates (JAG Nevada), a nonprofit agency that partners with public education and private agencies to develop high school students into the talent employers want to hire using education and skills training, is proud to announce it … [Read more...]
Retail Summary: First Quarter 2017
SOUTHERN NEVADA The Las Vegas Valley’s overall industrial vacancy rate in Q1 2017 was 5.5 percent, 0.3 percentage-points up from the 4th quarter of 2016. The warehouse/distribution product type was responsible for the vacancy increase as vacancy was down in all other product types. A large amount of warehouse/distribution space came to market in the second half of 2016; and … [Read more...]
Nevada REALTORS Visit France to Show Off Silver State Real Estate Opportunities
LAS VEGAS – Leading REALTORS from throughout Nevada will be showing off real estate and investment opportunities in the Silver State by attending MIPIM, the world’s leading global real estate market, business conference and networking event, being held March 14-17 in Cannes, France. Seven Nevada real estate industry leaders are attending the event this week, representing the … [Read more...]
Help Wanted: Fortune-teller
Planning for Business Taxes in 2017 Although Nevada has one of the most business-friendly tax environments in the U.S., business owners still have to contend with (and plan for) local, state and federal taxation. In addition, planning for taxes in 2017 is a task made much harder due to recent political and legislative changes. Not only is President Trump’s proposed tax reform … [Read more...]
Industrial Summary: Fourth Quarter 2016
Southern Nevada The Las Vegas Valley’s overall industrial vacancy rate in Q4, 2016 was 4.8 percent. Since Q3, 2015 the Valley’s industrial market rate has been at full occupancy and has been absorbing new space while remaking the existing inventory to accommodate larger space demand. Q4 saw 2,045,634 square feet of completed space, all of it in the warehouse/distribution … [Read more...]
Want to Sustain Economic Growth? Invest in IT
First, the good news: Nevada’s economy is on the rebound. Now the daunting news: After a gut wrenching recession, the marketplace is more competitive than ever and the difference between success and failure is razor thin. But research suggests there is hope in the form of a strong information technology (IT) industry. Rising wages, job creation and record retail sales are … [Read more...]
Back to Work: Human Resource & Employment Issues
Gilda Radner’s comic creation, Roseanne Roseannadanna, pretty much summed up the situation of Nevada’s employers: “It’s always something.” The state’s economic recovery makes good workers harder to find, and top employees are beginning to hear the siren song of recruiters who want to woo them away. That’s putting upward pressure on wages just when employers are getting the … [Read more...]
ITS Logistics Launches New Website and Brand Refresh
RENO — Third-party logistics company, ITS Logistics, has launched a new website and brand refresh following the announcement of its large-scale move to a 630,000-square-foot campus in Sparks, Nev. Major changes to the website include a new responsive interface for potential clients to learn about the company's services and an aesthetic redesign to support its new branding … [Read more...]
How to Lease or Buy: A Guide to the Rebounding Commercial RE Industry
Buying or leasing commercial real estate is a stressful and complex process that can be difficult for even the best of brokers in Nevada. What about for entrepreneurs or business executives whose areas of expertise may be in gaming or healthcare? How should they evaluate the pros and cons of buying or leasing, choosing a location and making a purchase? Taber Thill, senior … [Read more...]
Developers: New Projects Signal Improved Markets
As the welcome sights and sounds of industrial construction continue to pop up all around the Silver State, business decision makers agree that economic good times are coming back. With 200 million square feet of development sprinkled around the U.S., Europe and Canada, developers at Panattoni Development Company, Inc. are happy to have stuck with in Nevada for 17 … [Read more...]
Raising the Grade: Higher Education in the Silver State
Education, economy, workforce, workers: pieces of a puzzle that come together to form economic development for Nevada and the ability to make a living for each individual. According to the U.S. Bureau of Labor Statistics, educational attainment and income are linked. Earnings and unemployment rates by educational attainment show national unemployment rates of 2.1 percent for … [Read more...]
Workforce Issues
As Nevada claims the distinction of having the highest private sector job growth in the country, according to the Nevada Department of Employment, Training and Rehabilitation (DETR), decision makers are focusing on how the Silver State can best respond to workforce needs in an ever changing and diverse economy. “The economy is diversifying based on the economic development … [Read more...]
Industry Focus: Commercial Real Estate
Commercial Real Estate in Nevada is recovering from a tough recession. Brokers agree that the industry has improved, but some markets are clearly bouncing back more quickly than others. Recently, commercial real estate experts met at the Las Vegas Law Offices of Snell & Wilmer to discuss the factors affecting the overall health of the industry in the Silver State. Connie … [Read more...]
Nevada’s Residential Housing Market
One of the first questions that comes up during a discussion of the residential housing market is whether it’s a buyer’s or a seller’s market – who’s got the advantage? After the housing bubble burst in 2006 and the events of the recession, Nevada’s housing market began to grow again over the last four years, with 2013 stronger than 2014, and 2015 looking a lot like 2013. … [Read more...]
Nevada’s Place Among the States
Nevada has always had a unique economy, based on volatile industries like mining, which fluctuates according to the price of metals, and tourism, which depends on the U.S. and world economy. Employment, construction and the housing market in the Silver State tend to follow these industries from one extreme to the other. In this year’s report comparing Nevada to other states, … [Read more...]
Tech in Nevada
Economic development in Nevada has a direct, deliberate, effect on Nevada’s technology industry. Then again, Nevada’s technology industry is having a definite effect on economic development. It’s like the old Reese’s Peanut Butter Cups commercials – where the collision of chocolate and peanut butter create a happy symbiosis. In this case, the combination is intentional. … [Read more...]
On the Rise: Commercial Building Rebounds
For the first time since 2007, when the recession decimated their industry, commercial builders in Nevada believe the industry is finally snapping back. “The recovery is slower than anybody wanted it to be, but the good news is that it is recovering,” says Ray Sedey, executive vice president of McCarthy Building Companies in Las Vegas. “Construction is recovering, but we’re … [Read more...]
Nevada Featured in CNBC Article
LAS VEGAS – Nevada’s economic recovery has been highlighted in an article published by CNBC. The article, which heralds the Tesla move to Nevada as telltale sign of future business predictors, emphasizes the state’s dedicated, educated and skilled workforce as an indicator of future economic successes. “When electric-car maker Tesla touched off a multistate bidding … [Read more...]
Around the State: April 2015
Chase International Installs Tesla Charging Station An independent real estate company, Chase International, has installed a Tesla charging station at the firm’s Zephyr Cove location. The high-power wall connector adds 58 miles of range per hour for the Model S vehicles. Chase is the latest in a growing network of businesses and resorts adding charging stations in anticipation … [Read more...]
Office Summary: Fourth Quarter 2014
Southern Nevada The Las Vegas office sector reported positive net absorption for three consecutive quarters in 2014. By the end of the year, the office market vacancy rate was 23.6 percent. The latest vacancy rate is up 0.2 percentage points from the prior quarter, but it has declined 0.7 percentage points from a year ago. During the fourth quarter of 2014, One Summerlin … [Read more...]
