Stewarding Regional Economic Development

Economic Development is central to everything we do at the LVGEA. Find out how we are coordinating and elevating Southern Nevada’s economic development infrastructure.

 

header_RELOCATION1

 

 

Fostering Region-wide Collaboration on Economic Development

Prior to the formation of the LVGEA, regional economic development efforts in Southern Nevada were significant but disorganized. Municipalities in Southern Nevada battled, sometimes bitterly, for new economic development projects. Legislation passed by the Nevada legislature in 2011 called for better coordination of municipal economic development efforts, and LVGEA, as the new regional economic development authority, took up this call.

Southern Nevada’s Comprehensive Economic Development Strategy (CEDS)

In the fall of 2012, the Las Vegas Global Economic Alliance (LVGEA), the Governor’s Office of Economic Development (GOED) and more than 300 community stakeholders from all over the region began work on a Comprehensive Economic Development Strategy (CEDS).  The CEDS document includes demographic information, economic analyses, and information on the strategies and tactics that the LVGEA and its regional partners will use to develop new industries and diversify the economy in Southern Nevada.  In writing this document, the community came together like never before to support economic development.  The LVGEA and its community partners feel confident about the quality of the document and the goals contained within.

The CEDS was accepted by the U.S. Economic Development Administration in September of 2013.

Cover image of CEDS reportClick to read the Southern Nevada Comprehensive Economic Development Strategy. 

Please see these links for supporting documents:

Las Vegas Regional Cluster Analysis
Las Vegas Regional Economic Assessment
CEDS Performance Indicators

Southern Nevada’s Economic Development Advisory Group

In 2013, the LVGEA took steps to form what later would be known as the Economic Development Advisory Group (EDAG). The group meets monthly and includes the heads of economic development staff members from the following organizations:

  • Clark County
  • City of Las Vegas
  • City of Henderson
  • City of North Las Vegas
  • Mesquite Regional Business, Inc.
  • Boulder City Economic Vitality Coalition
  • Laughlin Economic Development Corporation
  • NV Energy
  • Southwest Gas
  • Southern Nevada Water Authority
  • University of Nevada Las Vegas
  • College of Southern Nevada
  • Nevada State College
  • Workforce Connections, the Southern Nevada Workforce Investment Board
  • Nevada Department of Employment, Training, and Rehabilitation
  • Nevada Governor’s Office of Economic Development

Together, EDAG members share information and talk about ways they can collaborate on issues important to the region as a whole. In 2014, LVGEA solicited legislative recommendations on economic development from EDAG for the 2015 Legislative Session. EDAG members also assist LVGEA in putting on occasional familiarization (FAM) tours for corporate site selectors and are integral to LVGEA’s trade show and marketing strategy.

Introducing Global Business Leaders to Southern Nevada

As the lead organization for economic development in Southern Nevada, LVGEA is tasked by the State of Nevada to develop a global marketing and outreach plan for the region. LVGEA approaches this effort in several different ways.

Facilitating Familiarization (FAM) Tours

Several times a year, the LVGEA, in partnership with the Governor’s Office of Economic Development and its municipal economic development partners, facilitates familiarization (FAM) tours of the region for global corporate site selectors. These site selectors are very important to economic development: they advise corporate clients on the region’s operating environment, community, tax structure, and economic development incentives, and they can make or break an economic development deal. By making in-person connections, FAM tours introduce site selectors to the region and develop connections that pay long-term dividends.

Hosting Global Delegations

Las Vegas has a unique advantage when it comes to economic development: people from all over the world travel here for business and pleasure. LVGEA sees this as a business opportunity, so in partnership with the World Affairs Council of Las Vegas and the City of Las Vegas, LVGEA hosts dozens of foreign delegations and cultural groups each year. LVGEA’s Chief Protocol Officer, Gayle Anderson, has decades of experience hosting foreign delegations, and LVGEA’s economic development staff works with area municipalities to ensure that foreign delegations know of the opportunities for investment in Las Vegas.

Collaborating on Global Outreach

LVGEA, in partnership with the Governor’s Office of Economic Development and its regional economic development partners, conducts periodic economic development outreach to specific countries to drive foreign investment in Southern Nevada. Since its inception in 2013, LVGEA economic development staff has conducted multiple business outreach missions, including visits to Canada, Mexico, China, Korea, Singapore, and Taiwan. These missions have yielded dozens of economic development leads and millions of dollars in new capital investment.

Leading the Conversation on Economic Development

LVGEA leads the economic development conversation in Southern Nevada through a best-in-class strategic communication and public policy effort. Since its inception in 2013, LVGEA has hosted thousands of Southern Nevadans at its policy events, and has truly changed the conversation around economic development in the region.

LVGEA “Connection Points” Events

LVGEA hosts speakers and panels to address themes and trends affecting economic development in the Las Vegas Valley. Several hundred members of the Southern Nevada community attend these occasional events to network and hear directly from decision-makers in the region.

Past speakers include:

  • Dean Nelson, VP of Global Foundation Services for eBay
  • Michael Gallis, globally recognized regional master planner, Michael Gallis & Associates
  • Barry Cornish, Commander, 99th Air Base Wing, Nellis Air Force Base
  • Pat Skorkowsky, Superintendent of Schools, Clark County School District
  • John Entsminger, General Manager, Southern Nevada Water Authority

LVGEA’s Public Policy Priorities

LVGEA collaborates with its regional partners to find consensus on public policy issues related to economic development. In 2014, LVGEA collaborated with its partners on the Economic Development Advisory Group to identify policy priorities for the 2015 Nevada legislative session. Those priorities include:

  • Specific and targeted six-year investments in PK-12 education using new tax dollars generated from a variety of sources, including the business community.
  • An independent allopathic public medical school in Southern Nevada
  • Tax incentives to grow the unmanned aerial systems industry statewide
  • Increases to the allocations in the state’s Catalyst Fund
  • Increases to allocations in the State’s Knowledge Fund
  • The creation of new incentives to support business retention in target industries
  • Initiatives that will ensure that the state has sufficient, development ready industrial land
  • The creation of a dedicated revenue stream for regional economic development

Modification of the statute that indexes Clark County’s fuel tax to inflation

Tying Regional Economic Development to Las Vegas’ Convention Market

Las Vegas has a valuable asset in the Las Vegas convention market. For more than 20 years, Las Vegas has been North America’s leading convention and meeting market. From the globally renown International Consumer Electronics Show to the dozens of smaller conventions that draw a few thousand people apiece, Las Vegas has the opportunity to see millions of people each year that other regions do not see.

A Trade Show Economic Development Strategy

With members of Southern Nevada’s Economic Development Advisory Group, LVGEA has formed a strategy for strategic marketing at Las Vegas trade shows and conventions. Las Vegas hosts more than 7 million conventioneers every year, and many of them work at companies that LVGEA targets for business relocation. LVGEA partners with Southern Nevada municipalities to attend more than a dozen trade shows each year in target sectors to market Las Vegas as a premier global business destination.

International Economic Development Council (IEDC) Leadership Conference – 2018

LVGEA is pleased to announce that Las Vegas will host the 2018 IEDC Leadership Conference. The conference, one of the premier economic development events of the year, will showcase Southern Nevada to hundreds of the world’s top site selectors and economic development professionals. In 2014, LVGEA and its partners on the Economic Development Advisory Group went through a competitive process to secure the conference, and preparations are now underway for what is sure to be a landmark event in Southern Nevada’s economic development.