Thanks to your support, our team at LVGEA is on pace to deliver a record setting year for assisted new job creation! Although much work remains, we’re increasingly optimistic about the future of our region and humbled to be your boots on the ground for strengthening and diversifying our economy. Please join us for our annual Perspective event on August 13th and check out the latest updates from our team below.
Read about what has been going on at LVGEA.
LVGEA Helps Bring Jobs
With approval by Nevada’s GOED board of directors, six companies will relocate or expand in Southern Nevada with the assistance the LVGEA. Fresh N Lean, Sunshine Minting, Warby Parker, Pitney Bowes, TCP Global, and Spreetail will add 1,512 regional jobs in the next five years. Read more here.
Annual Perspective Event
Vegas Perspective will be taking place on August 13th with simultaneous in-person and digital experiences. Now in its 41st year, Perspective is the region’s premier source for community and economic development information, analysis, and forecasting. Click here to buy in-person and digital tickets and learn more about the event. Perspective books are also available.
Here, we spotlight our investors at the Champion level and above, showcasing the work they are doing to improve Southern Nevada.
Expanding the View of Vegas, Clark County Wants Your Input!
For businesses who value direct access to the western U.S. and Pacific Rim countries, all in a lower cost environment, Clark County is a premier business location. At a population of 2.3 million, it is the 11th largest county in the United States. Clark County has jurisdiction over the world-famous Las Vegas Strip and covers an area the size of New Jersey. Offering the best of both worlds, the county is a mix of urban and rural locales that put all of the benefits of city living within easy reach of both new and established residential areas. World-class outdoor recreation further enhances quality of life with myriad adventures for the whole family just a short drive away.
Clark County is taking a strategic approach to economic development with the establishment of a new Office of Community and Economic Development. The office will focus on programs that invest in people and community to drive economic success. A primary goal is diversifying our economy through improved educational outcomes, skilled workforce development, expansion of entrepreneurship and enhanced neighborhood services. In addition, the office strives to make it simple for prospective and existing business clients and commercial developers to do business here by curating the customer experience with county departments that participate in the development process such as Comprehensive Planning, Public Works, Building and Fire Prevention, and Business License.
Clark County is devoted to recruiting interest and investment that benefits everyone across the region. The County is currently conducting a research initiative to identify what is distinct and ownable for the County which can then inform how we present and articulate those advantages to a range of audiences. There is much to be proud of here, and we are eager to hear from you and your neighbors and colleagues in Clark County. What do you enjoy most about living here? What makes our place special? Please take 15 minutes and complete our survey at www.BrandingClarkCounty.com before July 19. We appreciate your time and input.
Eight companies considering relocation or expansion in Nevada may have a sweeter deal after the Governor’s Office of Economic Development approved $8.9 million in tax incentives Thursday.
The tax abatements may help create 2,000 jobs in the next five years, three-quarters of which are expected in or near Las Vegas.
“We’re thrilled to welcome these companies to our region,” Jonas Peterson, president and CEO of the Las Vegas Global Economic Alliance, said in a statement. “Our team is excited to see an increase in companies, like these, choosing to invest in our community and help diversify our local economy. As we continue to push through the challenges of the pandemic, I’m optimistic about Southern Nevada’s economic outlook.”
Nine companies that are considering building or expanding operations in Nevada were awarded $4.7 million in tax abatements from the Governor’s Office of Economic Development on Wednesday.
Four of the companies, helped by the Las Vegas Global Economic Alliance, will relocate or expand in Southern Nevada.
“We’re thrilled to welcome these innovative companies to Southern Nevada,” Jonas Peterson, president and CEO of LVGEA, said in a statement. “After a challenging year for our region, these companies will create jobs for many and help diversify the Southern Nevada economy.”
When the coronavirus pandemic sparked retail hoarding and other chaos last year, job losses skyrocketed across the U.S. as businesses locked their doors and people stayed home over fears of getting infected.
Plenty of workers have since returned to their jobs, but through it all, Las Vegas has been ground zero for America’s COVID-19 financial pain.
The economy “was gradually becoming more diverse,” with growth in target industries such as corporate headquarters, logistics and health care, but “much of our positive momentum ground to a halt” after the pandemic hit, said Jonas Peterson, president and CEO of Las Vegas Global Economic Alliance, a business booster.
In collaboration with SRI International, a nonprofit research institute, Las Vegas Global Economic Alliance (LVGEA) has released a Target Industry Validation Study to facilitate intentional economic growth and diversification in Southern Nevada.
Prior to the COVID-19 pandemic, the Southern Nevada economy was gradually becoming more diverse and seeing consistent job growth. Much of that momentum, however, ground to a halt as a result of the pandemic.
“This past year, the COVID-19
pandemic has significantly impacted our global, national, and especially regional economy,” said Jonas Peterson, President and CEO of LVGEA. “By re-examining our region’s target industries, we can now refocus our job creation and community building efforts to position Southern Nevada for success in a post-COVID economy.” Continue reading here. →
Four companies will relocate to or add operations in Southern Nevada with the assistance of Las Vegas Global Economic Alliance (LVGEA): Kolay Flooring, ClearBags, Holda and Uniworld Omniport. The companies will add a total of 185 jobs in the next five years. LVGEA assisted in each company’s expansion by providing information around potential incentives, real estate, licensing, workforce, and the advantages of doing business in Southern Nevada.
“We’re excited to see these companies choosing to invest and create new jobs in Southern Nevada,” said Jonas Peterson, President and CEO of LVGEA. “Thanks to companies like these, our economic recovery is accelerating.” Continue reading here.→
LVGEA’s Economic Snapshot tracks the following data in Southern Nevada currently and compared to the prior year: demographics, such as population and median household income; labor force employment, unemployment, and percentage with a Bachelor’s Degree or higher; economic figures, including taxable retail sales, average weekly wages, average weekly hours worked, and per capita personal income; tourism, visitor volume, gross casino gaming revenue, convention attendance, and airport passengers; and the real estate markets for offices, industry, retail, and residential.
Readers are invited to visit the Data Portal to search, access, and export important information. Continue reading here. →