LVGEA RELEASES PERSPECTIVE Update Newsletter- Accounting for Infrastructure

by LVGEA

 

 

 
PERSPECTIVE Update: Infrastructure | Winter 2015
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Southern Nevada’s future in the global economy largely depends on our connectivity to regional and global markets.

GUEST COLUMNIST

I think most would agree that two of the most important topics for the committee will be the future of the Las Vegas Convention Center, and a football stadium for UNLV.  There seems to be a foundation of agreement to work from – investment needs to be made to upgrade and update the current convention center and UNLV needs a new stadium.  The size and scope of those projects – does the convention center expand and, if so, by how much, and does a football stadium add additional seats and a roof – will be important topics during the first quarter next year.
RTC will present needs and recommendations for roads and mass transit at the January meeting – a topic certain to make the “most important” list.
Following work sessions and report drafting from February through June, the work of the Committee will culminate in July 2016 with a report to Governor Sandoval.  That report will identify and prioritize tourism improvement projects and will identify and suggest funding mechanisms needed to make those projects happen.
Every community and state has limits on available resources, but very few cities or states have both the opportunity and the responsibility to protect and grow a world-class brand and experience.  Over the past 60 years, many community leaders have shaped Las Vegas into what it is today – the global leader of hospitality and gaming.  Now it’s our turn.

                                             INFRASTRUCTURE STATISTICS

This quarter, Perspective’s survey asked Southern Nevadans about the state of our transportation infrastructure. The survey gauged opinions at a time when Congress was debating federal highway transportation funding and mega-projects like the I-15 overhaul dubbed “Project Neon” and Interstate 11 project were in the news.
The survey found strong support for renewable energy policies and connectivity
projects including regional high-speed rail and local transit and pedestrian projects.
As various groups study connectivity in our heavily trafficked resort corridor, survey respondents say that improving pedestrian flow and encouraging Strip employees to take public transit are two of the most important ideas for upgrading connectivity in local major employment and tourism areas like the Strip.
The Las Vegas Perspective quarterly survey examined opinions and attitudes of the Southern Nevada workforce on the state of infrastructure in our community. The Las Vegas Global Economic Alliance commissioned the web-based survey between August 13-17, 2015.
Because this survey is intended to poll the Clark County workforce, results remove self-selected retirees and self-selected residents of other counties. Results were post-weighted to the 2010 demographic Census report for Clark County. The sample size of the survey is 500 with a margin of error of +/- 3.68 percent at the 90 percent confidence interval.

For questions about the survey results, its methodology, and its crosstabs,
please contact Andrew Doughman at andrewd@lvgea.org

TRANSPORTATION INFRASTRUCTURE PROJECTS

ECONOMIC PERSPECTIVE

Auto traffic on Interstate 15 at the California border, which supplies about one in three Las Vegas visitors, is up 9.1 percent over the pre-recession peak. Meanwhile, taxicab trips and bus ridership also continue to climb, creating more congestion on already crowded roads, especially in and around the resort corridor. Congestion costs the typical southern Nevada commuter an estimated $984 a year in wasted fuel and lost time at work or at home. The total cost of congestion for all drivers, including commercial vehicles and visitors, sits at a combined $1.4 billion a year, and congestion is projected to worsen as more people move into southern Nevada.
By 2040, the region is projected to add 900,000 residents, 15 million annual visitors and 400,000 workers. If the transportation system does not adapt, it will grind to a halt, hindering growth of the tourism-based economy and undercutting efforts to diversify and stabilize the economy as a whole. To prevent such a scenario, initiatives are underway to study shortcomings in the region’s transportation systems and lay a framework for future infrastructure that meets the economy’s long-term needs. The efforts of the Regional Transportation Commission’s Transportation Investment Business Plan and the Southern Nevada Tourism Infrastructure Committee, among others, will help ensure that our community has the necessary transportation network to provide for the people who live and work here while supporting the needs of our economy, tourism-based and otherwise, for decades to
come.

Each of these free newsletters features:

  • An introductory column by LVGEA President and Chief Executive Officer Jonas Peterson
  • A guest columnist from Southern Nevada who addresses topics in the theme of the newsletter
  • Data and an Economic Perspective from Applied Analysis
  • Polling data and analysis of the poll around the theme of the newsletter
  • For more information about Perspective and to view this newsletter in your browser, see LVGEA.org/PerspectiveThe Las Vegas Global Economic Alliance and its partners in the LVGEA Community & Economic Research Council publish this Perspective newsletter on a quarterly basis. In addition to the annual research book and comprehensive economic update event in May, the Perspective quarterly newsletters address themes of Education, Infrastructure, and Regional Economic Competitiveness.
This newsletter is made possible with the support of our CERC members:
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