This month, we’ve chosen to share some important highlights that were recently published by Robert C. Hooper who is the president and CEO of the Northern Nevada Development Authority.
With an article in the new ViewPoint magazine that is published by the Authority, Hooper took some time to share recent stats about our state, and its sustained and growing benefits to the business market.
Here are a few of the highlights from the article that we thought would be of interest to companies who may be interested in moving their business to a commercial office space in Lake Tahoe or Northern Nevada.
- Nevada continues to be one of the top job-creating states in the nation with our job growth benefiting from the nationwide growth of manufacturing and construction.
- In late 2017, Applied Analytics reported that since 2011, manufacturing and logistics have grown two and a half times faster in the Silver State than in the rest of the country.
- Our state remains one of the top five business-friendly states on the Tax Foundation 2018 State Business Tax Climate Index.
- In November 2017, Forbes reported that the cost of doing business in the Silver State is 4.6% lower than the national average.
- Nevada is expected to have the highest population growth through 2021, with Moody’s Analytics projecting that the Silver State will have the fastest employment growth during that time.
All good news indeed, and we have to thank the Northern Nevada Development Authority, as well as the Economic Development Authority of Nevada, for their dedication, foresight, and relentless efforts to keep our state thriving for years to come.
Another point that we thought was of interest is their analysis of “economic development.” They clarified that the development is “typically defined by its accomplishments versus its objectives.” Further explaining that economic development is as much about the future as it is the present.
Hopper continued to expand on this subject:
“Fostering an economic ecosystem which is prosperous, resilient and sustainable requires continuous effort. Accomplishments, such as assisting with company expansions or relocations, reducing industrial vacancy rates, and creating jobs, typically focus on the current environment and undergo constant change.”
“On the other hand, objectives, such as economic impact, workforce development, obtainable housing, and raising household incomes, have a long-term focus which become the foundation for further accomplishments; therefore aggressive, on-going investment in economic development allows economic upticks to be leveraged and maximized, in order to mitigate and minimize the expected downturns.”
In closing, Hooper noted that the NNDA will remain focused on being “the connector and problem solver between the Sierra Region’s business communities, government, and the many resources to support business growth.”
At our commercial and office space in Incline Village, NV, we’re seeing the positive results of the organizations throughout the State who are diligently working to keep the larger cities healthy as well as the small towns like ours who benefit from all their efforts.
And we thank them for those efforts!
If you have any questions about the business climate in Nevada, or how we can help you move or expand your business to Lake Tahoe in particular, please contact our team at Tahoe Time Plaza at any time.